Hi-Crush Partners’ (HCLP) “Buy” Rating Reaffirmed at B. Riley

Hi-Crush Partners (NYSE:HCLP)‘s stock had its “buy” rating restated by stock analysts at B. Riley in a note issued to investors on Friday. They presently have a $16.00 price objective on the basic materials company’s stock. B. Riley’s price objective points to a potential upside of 29.55% from the stock’s current price.

HCLP has been the subject of a number of other research reports. Piper Jaffray Companies began coverage on shares of Hi-Crush Partners in a research note on Monday, September 25th. They set an “overweight” rating and a $11.75 target price for the company. BidaskClub raised shares of Hi-Crush Partners from a “hold” rating to a “buy” rating in a research note on Monday, October 23rd. ValuEngine raised shares of Hi-Crush Partners from a “sell” rating to a “hold” rating in a research note on Monday, October 2nd. Zacks Investment Research raised shares of Hi-Crush Partners from a “sell” rating to a “hold” rating in a research note on Tuesday. Finally, Johnson Rice raised shares of Hi-Crush Partners from an “accumulate” rating to a “buy” rating and set a $15.00 target price for the company in a research note on Monday, December 4th. Three equities research analysts have rated the stock with a hold rating and fourteen have issued a buy rating to the stock. Hi-Crush Partners currently has an average rating of “Buy” and an average price target of $16.15.

Shares of Hi-Crush Partners (NYSE HCLP) traded up $0.40 during trading hours on Friday, hitting $12.35. 2,000,000 shares of the company’s stock were exchanged, compared to its average volume of 1,690,000. The firm has a market cap of $1,120.00, a price-to-earnings ratio of 38.59 and a beta of 0.96. Hi-Crush Partners has a 52 week low of $7.25 and a 52 week high of $23.30. The company has a quick ratio of 1.29, a current ratio of 1.77 and a debt-to-equity ratio of 0.24.

Hi-Crush Partners (NYSE:HCLP) last issued its earnings results on Tuesday, October 31st. The basic materials company reported $0.32 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.40 by ($0.08). The company had revenue of $167.58 million for the quarter, compared to analyst estimates of $168.95 million. Hi-Crush Partners had a net margin of 7.09% and a return on equity of 5.01%. The company’s quarterly revenue was up 259.9% on a year-over-year basis. During the same period last year, the business earned ($0.21) EPS. sell-side analysts expect that Hi-Crush Partners will post 0.97 earnings per share for the current year.

Hi-Crush Partners announced that its board has initiated a stock repurchase plan on Tuesday, October 17th that allows the company to repurchase $100.00 million in shares. This repurchase authorization allows the basic materials company to reacquire shares of its stock through open market purchases. Shares repurchase plans are generally an indication that the company’s management believes its shares are undervalued.

Several hedge funds have recently added to or reduced their stakes in the stock. ING Groep NV lifted its stake in shares of Hi-Crush Partners by 72.6% in the 3rd quarter. ING Groep NV now owns 2,400,552 shares of the basic materials company’s stock valued at $22,805,000 after purchasing an additional 1,010,000 shares during the last quarter. Ninepoint Partners LP acquired a new stake in shares of Hi-Crush Partners in the 3rd quarter valued at $15,200,000. Clear Harbor Asset Management LLC lifted its stake in shares of Hi-Crush Partners by 69.5% in the 3rd quarter. Clear Harbor Asset Management LLC now owns 796,137 shares of the basic materials company’s stock valued at $7,563,000 after purchasing an additional 326,414 shares during the last quarter. Tocqueville Asset Management L.P. acquired a new stake in shares of Hi-Crush Partners in the 3rd quarter valued at $1,972,000. Finally, Raymond James Financial Services Advisors Inc. lifted its stake in shares of Hi-Crush Partners by 42.4% in the 3rd quarter. Raymond James Financial Services Advisors Inc. now owns 159,963 shares of the basic materials company’s stock valued at $1,520,000 after purchasing an additional 47,593 shares during the last quarter. 43.88% of the stock is owned by institutional investors and hedge funds.

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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.

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

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