Hi-Crush Partners LP (HCLP) Upgraded by TheStreet to “C+”
Hi-Crush Partners LP (NYSE:HCLP) was upgraded by research analysts at TheStreet from a “d+” rating to a “c+” rating in a report released on Wednesday.
Several other research firms have also weighed in on HCLP. Zacks Investment Research lowered Hi-Crush Partners from a “hold” rating to a “sell” rating in a report on Wednesday, July 12th. Credit Suisse Group lowered their target price on Hi-Crush Partners from $24.00 to $12.00 and set an “outperform” rating on the stock in a report on Thursday, July 20th. BidaskClub lowered Hi-Crush Partners from a “hold” rating to a “sell” rating in a report on Thursday, July 27th. Cowen and Company lowered their target price on Hi-Crush Partners from $22.00 to $12.00 and set an “outperform” rating on the stock in a report on Friday, August 4th. They noted that the move was a valuation call. Finally, UBS AG lowered their target price on Hi-Crush Partners from $23.00 to $17.00 and set a “buy” rating on the stock in a report on Friday, August 4th. One investment analyst has rated the stock with a sell rating, three have issued a hold rating and ten have issued a buy rating to the stock. The stock presently has a consensus rating of “Buy” and a consensus price target of $16.60.
Hi-Crush Partners (NYSE:HCLP) last announced its quarterly earnings data on Tuesday, October 31st. The basic materials company reported $0.32 earnings per share for the quarter, missing the Zacks’ consensus estimate of $0.40 by ($0.08). Hi-Crush Partners had a return on equity of 5.01% and a net margin of 7.09%. The business had revenue of $167.58 million for the quarter, compared to analyst estimates of $168.95 million. During the same period in the prior year, the company earned ($0.21) EPS. The company’s revenue was up 259.9% on a year-over-year basis.
Hi-Crush Partners announced that its Board of Directors has initiated a stock buyback plan on Tuesday, October 17th that authorizes the company to repurchase $100.00 million in outstanding shares. This repurchase authorization authorizes the basic materials company to repurchase shares of its stock through open market purchases. Stock repurchase plans are usually a sign that the company’s leadership believes its shares are undervalued.
Several large investors have recently modified their holdings of HCLP. Strid Group LLC purchased a new position in Hi-Crush Partners during the second quarter worth about $109,000. S. Muoio & CO. LLC purchased a new position in Hi-Crush Partners during the second quarter worth about $111,000. Deprince Race & Zollo Inc. purchased a new position in Hi-Crush Partners during the first quarter worth about $191,000. GSA Capital Partners LLP purchased a new position in Hi-Crush Partners during the fourth quarter worth about $222,000. Finally, Quantbot Technologies LP purchased a new position in Hi-Crush Partners during the third quarter worth about $172,000. Institutional investors and hedge funds own 50.59% of the company’s stock.
Hi-Crush Partners Company Profile
Hi-Crush Partners LP is an integrated producer, transporter, marketer and distributor of monocrystalline sand, a specialized mineral that is used as a proppant to manage the recovery rates of hydrocarbons from oil and natural gas wells. Its reserves consist of northern white sand, a resource in Wisconsin and limited portions of the upper Midwest region of the United States.
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