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.
TRADEMARK VIOLATION WARNING: This piece was originally posted by Stock Observer and is owned by of Stock Observer. If you are accessing this piece on another domain, it was copied illegally and reposted in violation of United States & international copyright laws. The correct version of this piece can be read at https://www.thestockobserver.com/2017/12/07/hi-crush-partners-hclp-lifted-to-buy-at-johnson-rice.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.
Receive News & Ratings for Hi-Crush Partners LP Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Hi-Crush Partners LP and related companies with MarketBeat.com's FREE daily email newsletter.