Smart Sand (SND) Rating Lowered to Hold at Zacks Investment Research

Smart Sand (NASDAQ:SND) was downgraded by Zacks Investment Research from a “strong-buy” rating to a “hold” rating in a note issued to investors on Saturday.

According to Zacks, “Smart Sand, Inc. is a producer of northern white raw frac sand for the oil and gas industry. It offers proppant and related logistics services for oil and gas recovery from unconventional wells. Smart Sand, Inc. is headquartered in the Woodlands, Texas. “

Several other research analysts have also commented on SND. BidaskClub raised shares of Smart Sand from a “buy” rating to a “strong-buy” rating in a research note on Thursday, January 25th. Piper Jaffray Companies set a $12.00 price objective on shares of Smart Sand and gave the stock a “buy” rating in a research note on Wednesday, January 10th. TheStreet raised shares of Smart Sand from a “d” rating to a “c-” rating in a research note on Tuesday, January 2nd. Janney Montgomery Scott lowered shares of Smart Sand from a “buy” rating to a “neutral” rating and set a $13.00 price objective for the company. in a research note on Tuesday, January 2nd. Finally, Jefferies Group lowered shares of Smart Sand from a “buy” rating to a “hold” rating and set a $7.00 price objective for the company. in a research note on Wednesday, November 15th. Five analysts have rated the stock with a hold rating and six have assigned a buy rating to the company’s stock. The company presently has an average rating of “Buy” and a consensus price target of $12.80.

Smart Sand (SND) opened at $7.94 on Friday. Smart Sand has a fifty-two week low of $4.81 and a fifty-two week high of $21.99. The firm has a market cap of $326.78, a price-to-earnings ratio of 12.22 and a beta of 3.33.

Smart Sand (NASDAQ:SND) last posted its earnings results on Thursday, November 9th. The company reported $0.17 earnings per share for the quarter, beating analysts’ consensus estimates of $0.10 by $0.07. Smart Sand had a net margin of 18.67% and a return on equity of 14.41%. The firm had revenue of $39.33 million during the quarter, compared to analyst estimates of $33.60 million. During the same period last year, the firm posted $0.06 earnings per share. Smart Sand’s revenue for the quarter was up 259.8% compared to the same quarter last year. analysts anticipate that Smart Sand will post 0.41 EPS for the current fiscal year.

Several institutional investors and hedge funds have recently modified their holdings of SND. Parametric Portfolio Associates LLC raised its holdings in shares of Smart Sand by 22.1% in the second quarter. Parametric Portfolio Associates LLC now owns 32,621 shares of the company’s stock valued at $291,000 after acquiring an additional 5,901 shares in the last quarter. Royal Bank of Canada raised its holdings in shares of Smart Sand by 1,651.3% in the second quarter. Royal Bank of Canada now owns 11,436 shares of the company’s stock valued at $101,000 after acquiring an additional 10,783 shares in the last quarter. Alliancebernstein L.P. raised its holdings in shares of Smart Sand by 83.5% in the second quarter. Alliancebernstein L.P. now owns 24,400 shares of the company’s stock valued at $217,000 after acquiring an additional 11,100 shares in the last quarter. Rhumbline Advisers raised its holdings in shares of Smart Sand by 103.1% in the second quarter. Rhumbline Advisers now owns 21,979 shares of the company’s stock valued at $196,000 after acquiring an additional 11,157 shares in the last quarter. Finally, Bank of New York Mellon Corp raised its holdings in shares of Smart Sand by 17.4% in the third quarter. Bank of New York Mellon Corp now owns 90,539 shares of the company’s stock valued at $614,000 after acquiring an additional 13,406 shares in the last quarter. 49.73% of the stock is owned by hedge funds and other institutional investors.

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About Smart Sand

Smart Sand, Inc is a producer of Northern White raw frac sand, which is a proppant used to enhance hydrocarbon recovery rates in the hydraulic fracturing of oil and natural gas wells. The Company sells its products primarily to oil and natural gas exploration and production companies and oilfield service companies under a combination of long-term take-or-pay contracts and spot sales in the open market.

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