Johnson Rice Upgrades Hi-Crush Partners (HCLP) to Buy

Hi-Crush Partners (NYSE:HCLP) was upgraded by analysts at Johnson Rice from an “accumulate” rating to a “buy” rating in a research note issued to investors on Monday. The brokerage currently has a $15.00 price target on the basic materials company’s stock. Johnson Rice’s price objective points to a potential upside of 42.18% from the stock’s current price.

Several other research analysts also recently commented on the stock. Zacks Investment Research downgraded shares of Hi-Crush Partners from a “hold” rating to a “sell” rating in a report on Wednesday, November 8th. TheStreet raised shares of Hi-Crush Partners from a “d+” rating to a “c+” rating in a report on Wednesday, November 1st. Piper Jaffray Companies set a $12.00 price objective on shares of Hi-Crush Partners and gave the stock a “buy” rating in a report on Tuesday, October 31st. BidaskClub raised shares of Hi-Crush Partners from a “hold” rating to a “buy” rating in a report on Monday, October 23rd. Finally, Cowen set a $12.00 price objective on shares of Hi-Crush Partners and gave the stock a “buy” rating in a report on Wednesday, October 18th. One investment analyst has rated the stock with a sell rating, two have given a hold rating and eleven have given a buy rating to the company’s stock. The stock presently has a consensus rating of “Buy” and a consensus price target of $16.40.

Hi-Crush Partners (NYSE:HCLP) opened at $10.55 on Monday. Hi-Crush Partners has a 52-week low of $7.25 and a 52-week high of $23.30. The firm has a market cap of $955.82, a P/E ratio of 32.81 and a beta of 0.94. The company has a debt-to-equity ratio of 0.24, a quick ratio of 1.29 and a current ratio of 1.77.

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

Hi-Crush Partners declared that its Board of Directors has approved a stock buyback plan 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. Shares repurchase plans are often an indication that the company’s board of directors believes its shares are undervalued.

Large investors have recently made changes to their positions in the business. Ninepoint Partners LP bought a new position in Hi-Crush Partners in the 3rd quarter valued at $15,200,000. Evergreen Capital Management LLC bought a new position in Hi-Crush Partners in the 2nd quarter valued at $970,000. TVR Capital Management LP bought a new position in Hi-Crush Partners in the 2nd quarter valued at $667,000. Clear Harbor Asset Management LLC boosted its holdings in Hi-Crush Partners by 69.5% in the 3rd quarter. Clear Harbor Asset Management LLC now owns 796,137 shares of the basic materials company’s stock valued at $7,563,000 after purchasing an additional 326,414 shares during the period. Finally, Fort Washington Investment Advisors Inc. OH boosted its holdings in Hi-Crush Partners by 123.3% in the 2nd quarter. Fort Washington Investment Advisors Inc. OH now owns 402,000 shares of the basic materials company’s stock valued at $4,362,000 after purchasing an additional 222,000 shares during the period. 44.03% of the stock is owned by hedge funds and other institutional investors.

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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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