Smart Sand Inc (SND) Downgraded to “Hold” at BidaskClub

Smart Sand Inc (NYSE:SND) was downgraded by BidaskClub from a “buy” rating to a “hold” rating in a note issued to investors on Wednesday.

Other research analysts have also recently issued research reports about the stock. Jefferies Group LLC restated a “buy” rating and set a $15.00 price objective (down previously from $20.00) on shares of Smart Sand in a report on Monday, June 26th. Piper Jaffray Companies restated a “buy” rating on shares of Smart Sand in a report on Monday, August 14th. Deutsche Bank AG assumed coverage on shares of Smart Sand in a research note on Tuesday, October 10th. They issued a “buy” rating and a $9.00 price target on the stock. Zacks Investment Research raised shares of Smart Sand from a “sell” rating to a “hold” rating in a research note on Saturday, September 9th. Finally, Credit Suisse Group lowered shares of Smart Sand from an “outperform” rating to a “neutral” rating and cut their price target for the company from $20.00 to $8.50 in a research note on Thursday, July 20th. One equities research analyst has rated the stock with a sell rating, four have issued a hold rating and seven have assigned a buy rating to the company. Smart Sand has a consensus rating of “Buy” and a consensus target price of $13.07.

Shares of Smart Sand (NYSE:SND) opened at 6.80 on Wednesday. The stock has a market cap of $274.53 million and a P/E ratio of 14.32. Smart Sand has a 12 month low of $4.81 and a 12 month high of $21.99. The company has a 50 day moving average of $6.85 and a 200 day moving average of $6.85.

Smart Sand (NYSE:SND) last issued its quarterly earnings data on Thursday, August 10th. The company reported $0.06 earnings per share (EPS) for the quarter, missing the Zacks’ consensus estimate of $0.09 by ($0.03). The firm had revenue of $29.79 million for the quarter, compared to analyst estimates of $29.88 million. Smart Sand had a net margin of 8.81% and a return on equity of 6.22%. The firm’s revenue for the quarter was up 250.9% compared to the same quarter last year. During the same quarter in the prior year, the firm posted ($0.11) EPS. Equities research analysts expect that Smart Sand will post $0.32 earnings per share for the current fiscal year.

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In related news, VP Robert Kiszka purchased 10,000 shares of the business’s stock in a transaction on Friday, August 25th. The shares were purchased at an average price of $5.53 per share, with a total value of $55,300.00. Following the completion of the purchase, the vice president now owns 110,629 shares in the company, valued at approximately $611,778.37. The acquisition was disclosed in a legal filing with the SEC, which is accessible through this link. Also, CEO Charles Edwin Young purchased 100,000 shares of the business’s stock in a transaction on Wednesday, August 16th. The stock was bought at an average cost of $5.18 per share, for a total transaction of $518,000.00. Following the purchase, the chief executive officer now owns 140,600 shares of the company’s stock, valued at approximately $728,308. The disclosure for this purchase can be found here. In the last ninety days, insiders acquired 132,000 shares of company stock worth $685,960.

Institutional investors and hedge funds have recently made changes to their positions in the business. Royal Bank of Canada lifted its stake in 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 buying an additional 10,783 shares in the last quarter. American International Group Inc. bought a new position in Smart Sand in the first quarter valued at approximately $116,000. Nationwide Fund Advisors lifted its stake in Smart Sand by 28.6% in the first quarter. Nationwide Fund Advisors now owns 7,190 shares of the company’s stock valued at $117,000 after buying an additional 1,597 shares in the last quarter. Wall Street Access Asset Management LLC lifted its stake in Smart Sand by 19.6% in the second quarter. Wall Street Access Asset Management LLC now owns 16,510 shares of the company’s stock valued at $147,000 after buying an additional 2,705 shares in the last quarter. Finally, Metropolitan Life Insurance Co. NY bought a new stake in shares of Smart Sand in the first quarter worth $156,000.

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.

Analyst Recommendations for Smart Sand (NYSE:SND)

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