Investment analysts at B. Riley assumed coverage on shares of Hi-Crush Partners (NYSE:HCLP) in a research note issued to investors on Wednesday, Marketbeat Ratings reports. The brokerage set a “buy” rating and a $16.00 price target on the basic materials company’s stock. B. Riley’s price objective suggests a potential upside of 60.00% from the company’s previous close.

Other equities analysts have also recently issued research reports about the stock. Cowen reissued a “buy” rating and issued a $12.00 price target on shares of Hi-Crush Partners in a research report on Sunday, September 17th. BidaskClub raised shares of Hi-Crush Partners from a “hold” rating to a “buy” rating in a research report on Tuesday, September 26th. Jefferies Group set a $15.00 price target on shares of Hi-Crush Partners and gave the company a “buy” rating in a research report on Monday, August 28th. Piper Jaffray Companies set a $12.00 price target on shares of Hi-Crush Partners and gave the company a “buy” rating in a research report on Tuesday, October 31st. Finally, Johnson Rice raised shares of Hi-Crush Partners from an “accumulate” rating to a “buy” rating and set a $15.00 price target for the company in a research report on Monday. One analyst has rated the stock with a sell rating, two have given a hold rating and twelve have issued a buy rating to the company’s stock. The company currently has an average rating of “Buy” and an average target price of $16.36.

Hi-Crush Partners (HCLP) opened at $10.00 on Wednesday. The company has a current ratio of 1.77, a quick ratio of 1.29 and a debt-to-equity ratio of 0.24. The firm has a market cap of $960.37, a P/E ratio of 32.97 and a beta of 0.94. Hi-Crush Partners has a 1 year low of $7.25 and a 1 year high of $23.30.

Hi-Crush Partners (NYSE:HCLP) last posted 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). The company had revenue of $167.58 million for the quarter, compared to analysts’ expectations of $168.95 million. Hi-Crush Partners had a return on equity of 5.01% and a net margin of 7.09%. The business’s revenue for the quarter was up 259.9% on a year-over-year basis. During the same period in the previous year, the business posted ($0.21) EPS. analysts expect that Hi-Crush Partners will post 0.97 earnings per share for the current fiscal year.

Hi-Crush Partners announced that its Board of Directors has authorized a stock buyback plan on Tuesday, October 17th that permits the company to repurchase $100.00 million in outstanding shares. This repurchase authorization permits the basic materials company to buy shares of its stock through open market purchases. Shares repurchase plans are typically an indication 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 stake in shares of Hi-Crush Partners in the second quarter valued at about $109,000. S. Muoio & CO. LLC purchased a new stake in shares of Hi-Crush Partners in the second quarter valued at about $111,000. GSA Capital Partners LLP purchased a new stake in shares of Hi-Crush Partners in the third quarter valued at about $129,000. Advisor Group Inc. boosted its holdings in shares of Hi-Crush Partners by 80.5% in the third quarter. Advisor Group Inc. now owns 15,780 shares of the basic materials company’s stock valued at $151,000 after acquiring an additional 7,036 shares in the last quarter. Finally, Pinnacle Associates Ltd. purchased a new stake in shares of Hi-Crush Partners in the second quarter valued at about $157,000. 44.03% of the stock is currently owned by institutional investors and hedge funds.

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About Hi-Crush Partners

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.

Analyst Recommendations for Hi-Crush Partners (NYSE:HCLP)

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