Hi-Crush Partners LP (NYSE:HCLP) had its price objective cut by equities research analysts at Credit Suisse Group from $24.00 to $12.00 in a report issued on Thursday. The brokerage presently has an “outperform” rating on the basic materials company’s stock. Credit Suisse Group’s price target points to a potential upside of 29.03% from the stock’s current price.
A number of other analysts also recently weighed in on HCLP. UBS AG upgraded shares of Hi-Crush Partners from a “neutral” rating to a “buy” rating and increased their price target for the company from $22.00 to $23.00 in a research report on Tuesday, April 4th. Zacks Investment Research downgraded shares of Hi-Crush Partners from a “hold” rating to a “sell” rating in a research report on Wednesday, July 12th. Johnson Rice assumed coverage on shares of Hi-Crush Partners in a research report on Friday, June 23rd. They issued an “accumulate” rating and a $17.00 price target on the stock. ValuEngine downgraded shares of Hi-Crush Partners from a “hold” rating to a “sell” rating in a research report on Thursday, June 15th. Finally, Mizuho assumed coverage on shares of Hi-Crush Partners in a research report on Wednesday, May 3rd. They issued a “buy” rating and a $20.00 price target on the stock. Two equities research analysts have rated the stock with a sell rating, one has issued a hold rating and ten have assigned a buy rating to the company. Hi-Crush Partners presently has a consensus rating of “Buy” and a consensus target price of $21.36.
Hi-Crush Partners (HCLP) opened at 9.30 on Thursday. The stock has a 50 day moving average of $10.81 and a 200 day moving average of $15.50. The stock’s market capitalization is $846.46 million. Hi-Crush Partners has a 52-week low of $9.00 and a 52-week high of $23.30.
Hi-Crush Partners (NYSE:HCLP) last announced its quarterly earnings results on Monday, May 1st. The basic materials company reported ($0.07) earnings per share for the quarter, missing analysts’ consensus estimates of ($0.03) by $0.04. The firm had revenue of $83.40 million during the quarter, compared to analyst estimates of $84.31 million. Hi-Crush Partners had a negative net margin of 8.19% and a negative return on equity of 4.15%. The business’s revenue was up 60.1% on a year-over-year basis. During the same quarter in the prior year, the business earned ($0.48) earnings per share. On average, equities research analysts forecast that Hi-Crush Partners will post $0.98 EPS for the current year.
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Several institutional investors have recently modified their holdings of HCLP. NEXT Financial Group Inc boosted its position in shares of Hi-Crush Partners by 761.9% in the second quarter. NEXT Financial Group Inc now owns 13,575 shares of the basic materials company’s stock valued at $147,000 after buying an additional 12,000 shares in the last quarter. Deprince Race & Zollo Inc. acquired a new position in shares of Hi-Crush Partners during the first quarter valued at $191,000. Sanders Morris Harris LLC acquired a new position in shares of Hi-Crush Partners during the second quarter valued at $200,000. IFP Advisors Inc boosted its position in shares of Hi-Crush Partners by 391.5% in the first quarter. IFP Advisors Inc now owns 11,938 shares of the basic materials company’s stock valued at $207,000 after buying an additional 9,509 shares in the last quarter. Finally, Bank of New York Mellon Corp acquired a new position in shares of Hi-Crush Partners during the first quarter valued at $209,000. 65.47% of the stock is owned by institutional investors.
About Hi-Crush Partners
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.
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