Hi-Crush Partners (HCLP) Lifted to Buy at Johnson Rice

Johnson Rice upgraded shares of Hi-Crush Partners (NYSE:HCLP) from an accumulate rating to a buy rating in a report released on Monday, MarketBeat.com reports. They currently have $15.00 target price on the basic materials company’s stock.

A number of other research firms have also recently issued reports on HCLP. Piper Jaffray Companies set a $12.00 target price on shares of Hi-Crush Partners and gave the company a buy rating in a research note on Tuesday, October 31st. Zacks Investment Research cut shares of Hi-Crush Partners from a hold rating to a sell rating in a research note on Wednesday, November 8th. BidaskClub upgraded shares of Hi-Crush Partners from a hold rating to a buy rating in a research note on Tuesday, September 26th. TheStreet upgraded shares of Hi-Crush Partners from a d+ rating to a c+ rating in a research note on Wednesday, November 1st. Finally, Jefferies Group set a $15.00 target price on shares of Hi-Crush Partners and gave the company a buy rating in a research note on Thursday, October 5th. One analyst has rated the stock with a sell rating, two have assigned a hold rating and twelve have issued a buy rating to the company’s stock. Hi-Crush Partners presently has a consensus rating of Buy and a consensus target price of $16.36.

Hi-Crush Partners (NYSE:HCLP) opened at $10.00 on Monday. Hi-Crush Partners has a 1 year low of $7.25 and a 1 year high of $23.30. The company has a market cap of $969.48, a P/E ratio of 33.28 and a beta of 0.94. The company has a current ratio of 1.77, a quick ratio of 1.29 and a debt-to-equity ratio of 0.24.

Hi-Crush Partners (NYSE:HCLP) last announced its quarterly earnings data on Tuesday, October 31st. The basic materials company reported $0.32 EPS for the quarter, missing the Zacks’ consensus estimate 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 for the quarter, compared to analysts’ expectations of $168.95 million. During the same period in the previous year, the firm posted ($0.21) earnings per share. The business’s revenue for the quarter was up 259.9% on a year-over-year basis. equities analysts anticipate that Hi-Crush Partners will post 0.97 EPS for the current fiscal year.

Hi-Crush Partners announced that its Board of Directors has authorized a share buyback program on Tuesday, October 17th that permits the company to repurchase $100.00 million in shares. This repurchase authorization permits the basic materials company to repurchase shares of its stock through open market purchases. Stock repurchase programs are usually a sign that the company’s management believes its shares are undervalued.

The company also recently disclosed a quarterly dividend, which was paid on Tuesday, November 14th. Stockholders of record on Tuesday, October 31st were paid a $0.15 dividend. This represents a $0.60 dividend on an annualized basis and a dividend yield of 6.00%. The ex-dividend date of this dividend was Monday, October 30th. Hi-Crush Partners’s payout ratio is 187.51%.

Several institutional investors have recently modified their holdings of HCLP. Ninepoint Partners LP acquired a new stake in shares of Hi-Crush Partners in the third quarter worth $15,200,000. ING Groep NV lifted its stake in shares of Hi-Crush Partners by 72.6% in the third quarter. ING Groep NV now owns 2,400,552 shares of the basic materials company’s stock worth $22,805,000 after buying an additional 1,010,000 shares during the last quarter. Atlantic Trust Group LLC acquired a new stake in shares of Hi-Crush Partners in the second quarter worth $6,227,000. HITE Hedge Asset Management LLC lifted its stake in shares of Hi-Crush Partners by 187.2% in the second quarter. HITE Hedge Asset Management LLC now owns 587,625 shares of the basic materials company’s stock worth $6,376,000 after buying an additional 383,044 shares during the last quarter. Finally, Clear Harbor Asset Management LLC lifted its stake in shares of Hi-Crush Partners by 69.5% in the third quarter. Clear Harbor Asset Management LLC now owns 796,137 shares of the basic materials company’s stock worth $7,563,000 after buying an additional 326,414 shares during the last quarter. Institutional investors and hedge funds own 44.03% of the company’s stock.

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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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