Share Buyback Plan Initiated by Smart Sand (NASDAQ:SND) Board

Smart Sand (NASDAQ:SND) announced that its Board of Directors has initiated a share repurchase plan on Thursday, February 26th, RTT News reports. The company plans to buyback $20.00 million in outstanding shares. This buyback authorization authorizes the company to reacquire up to 8.9% of its shares through open market purchases. Shares buyback plans are generally an indication that the company’s leadership believes its stock is undervalued.

Analysts Set New Price Targets

Several brokerages recently commented on SND. Weiss Ratings reaffirmed a “hold (c)” rating on shares of Smart Sand in a report on Monday, December 29th. Wall Street Zen lowered shares of Smart Sand from a “strong-buy” rating to a “buy” rating in a research report on Sunday, December 28th. One investment analyst has rated the stock with a Hold rating, According to MarketBeat.com, the company currently has a consensus rating of “Hold”.

Smart Sand Price Performance

SND stock traded down $0.09 during midday trading on Thursday, hitting $5.08. The company’s stock had a trading volume of 300,543 shares, compared to its average volume of 380,900. The company has a quick ratio of 1.06, a current ratio of 1.70 and a debt-to-equity ratio of 0.03. Smart Sand has a 12 month low of $1.76 and a 12 month high of $5.59. The company has a 50 day moving average of $4.44 and a two-hundred day moving average of $3.11. The firm has a market capitalization of $221.18 million, a price-to-earnings ratio of 56.44 and a beta of 0.39.

Smart Sand (NASDAQ:SND) last issued its earnings results on Thursday, February 26th. The company reported $0.03 earnings per share for the quarter, topping analysts’ consensus estimates of ($0.03) by $0.06. The firm had revenue of $86.05 million during the quarter, compared to analyst estimates of $60.00 million. Smart Sand had a net margin of 1.16% and a negative return on equity of 7.55%. On average, analysts expect that Smart Sand will post 0.07 EPS for the current year.

About Smart Sand

Smart Sand, Inc (NASDAQ:SND) is a U.S.-based industrial mineral company specializing in the mining, processing and distribution of high-purity silica sand. The company’s primary business centers on the production of frac sand for the oil and gas industry, as well as specialty sand products for foundry, glass and construction applications. Through an integrated network of mines, processing plants and trans-load facilities, Smart Sand delivers precision-engineered sand solutions designed to meet stringent performance and purity requirements.

Smart Sand’s operations include flagship mining and processing facilities in Wisconsin, which supply Northern White silica sand, and production sites in Texas, strategically located to serve major U.S.