Hi-Crush Partners (HCLP) Stock Rating Lowered by Zacks Investment Research

Zacks Investment Research cut shares of Hi-Crush Partners (NYSE:HCLP) from a hold rating to a strong sell rating in a report issued on Wednesday.

According to Zacks, “Hi-Crush Partners LP engages in the production of monocrystalline sand, a specialized mineral that is used as a proppant to enhance the recovery rates of hydrocarbons from oil and natural gas wells. The Company reserves consist of Northern White sand, a resource existing in Wisconsin and limited portions of the upper Midwest region of the United States. It owns, operates and develops sand reserves and related excavation and processing facilities. Hi-Crush Partners LP is based in Houston, Texas. “

HCLP has been the topic of a number of other reports. Cowen restated a buy rating and issued a $12.00 price target on shares of Hi-Crush Partners in a research note on Sunday, September 17th. BidaskClub downgraded shares of Hi-Crush Partners from a hold rating to a sell rating in a research report on Wednesday, September 13th. Piper Jaffray Companies initiated coverage on shares of Hi-Crush Partners in a research report on Monday, September 25th. They set an overweight rating and a $11.75 target price on the stock. Johnson Rice upgraded shares of Hi-Crush Partners from an accumulate rating to a buy rating and set a $15.00 target price on the stock in a research report on Monday, December 4th. Finally, Jefferies Group set a $15.00 target price on shares of Hi-Crush Partners and gave the stock a buy rating in a research report on Thursday, October 5th. One investment analyst has rated the stock with a sell rating, two have issued a hold rating and fourteen have assigned a buy rating to the company’s stock. The company presently has a consensus rating of Buy and a consensus target price of $16.08.

Hi-Crush Partners (NYSE:HCLP) traded down $0.10 on Wednesday, hitting $11.40. 1,249,592 shares of the stock were exchanged, compared to its average volume of 1,546,483. Hi-Crush Partners has a one year low of $7.25 and a one year high of $23.30. 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 $1,037.75, a P/E ratio of 35.63 and a beta of 0.93.

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

Hi-Crush Partners declared that its board has initiated a stock repurchase program on Tuesday, October 17th that permits the company to buyback $100.00 million in shares. This buyback authorization permits the basic materials company to reacquire shares of its stock through open market purchases. Stock buyback programs are generally an indication that the company’s board believes its shares are undervalued.

A number of institutional investors have recently added to or reduced their stakes in the business. Principal Financial Group Inc. raised its holdings in Hi-Crush Partners by 11.0% during the 2nd quarter. Principal Financial Group Inc. now owns 30,720 shares of the basic materials company’s stock worth $333,000 after purchasing an additional 3,053 shares during the last quarter. Advisor Group Inc. raised its holdings in Hi-Crush Partners by 80.5% during the 3rd quarter. Advisor Group Inc. now owns 15,780 shares of the basic materials company’s stock worth $151,000 after purchasing an additional 7,036 shares during the last quarter. Valicenti Advisory Services Inc. raised its holdings in Hi-Crush Partners by 6.1% during the 3rd quarter. Valicenti Advisory Services Inc. now owns 131,425 shares of the basic materials company’s stock worth $1,249,000 after purchasing an additional 7,500 shares during the last quarter. Bank of New York Mellon Corp raised its holdings in Hi-Crush Partners by 70.1% during the 2nd quarter. Bank of New York Mellon Corp now owns 20,462 shares of the basic materials company’s stock worth $222,000 after purchasing an additional 8,431 shares during the last quarter. Finally, Southport Management L.L.C. raised its holdings in Hi-Crush Partners by 50.0% during the 3rd quarter. Southport Management L.L.C. now owns 30,000 shares of the basic materials company’s stock worth $285,000 after purchasing an additional 10,000 shares during the last quarter. Hedge funds and other institutional investors own 43.87% of the company’s stock.

ILLEGAL ACTIVITY WARNING: “Hi-Crush Partners (HCLP) Stock Rating Lowered by Zacks Investment Research” was posted by Equities Focus and is the property of of Equities Focus. If you are reading this article on another domain, it was illegally copied and republished in violation of U.S. & international copyright laws. The legal version of this article can be accessed at https://www.equitiesfocus.com/2018/01/07/hi-crush-partners-hclp-stock-rating-lowered-by-zacks-investment-research.html.

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.

Get a free copy of the Zacks research report on Hi-Crush Partners (HCLP)

For more information about research offerings from Zacks Investment Research, visit Zacks.com

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

Receive News & Ratings for Hi-Crush Partners Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Hi-Crush Partners and related companies with MarketBeat.com's FREE daily email newsletter.

Leave a Reply