Cowen reiterated their outperform rating on shares of U.S. Silica (NYSE:SLCA) in a report released on Thursday, MarketBeat reports. They currently have a $42.00 target price on the mining company’s stock, down from their prior target price of $45.00.
Several other analysts also recently commented on SLCA. Zacks Investment Research downgraded shares of U.S. Silica from a buy rating to a hold rating in a research report on Wednesday, October 25th. BidaskClub raised shares of U.S. Silica from a hold rating to a buy rating in a research report on Friday, November 3rd. Royal Bank of Canada decreased their target price on shares of U.S. Silica from $55.00 to $47.00 and set an outperform rating for the company in a research report on Wednesday, November 8th. Credit Suisse Group decreased their target price on shares of U.S. Silica from $43.00 to $40.00 and set an outperform rating for the company in a research report on Wednesday, November 8th. Finally, Citigroup boosted their target price on shares of U.S. Silica from $39.00 to $41.00 and gave the stock a buy rating in a research report on Friday, November 10th. One investment analyst has rated the stock with a sell rating, three have assigned a hold rating and nineteen have assigned a buy rating to the company. The stock currently has an average rating of Buy and an average target price of $44.67.
U.S. Silica (NYSE SLCA) opened at $26.03 on Thursday. U.S. Silica has a 1 year low of $24.26 and a 1 year high of $53.93. The company has a market cap of $2,100.00, a P/E ratio of 19.43 and a beta of 2.15. The company has a current ratio of 3.29, a quick ratio of 3.26 and a debt-to-equity ratio of 0.38.
U.S. Silica announced that its board has initiated a stock buyback program on Monday, November 6th that permits the company to buyback $100.00 million in shares. This buyback authorization permits the mining company to repurchase shares of its stock through open market purchases. Shares buyback programs are often an indication that the company’s management believes its shares are undervalued.
In related news, CEO Bryan Adair Shinn bought 4,000 shares of the business’s stock in a transaction that occurred on Wednesday, December 20th. The stock was purchased at an average cost of $31.30 per share, for a total transaction of $125,200.00. Following the purchase, the chief executive officer now directly owns 88,807 shares in the company, valued at $2,779,659.10. The purchase was disclosed in a filing with the SEC, which is available through this link. Also, EVP Bradford B. Casper sold 8,700 shares of the company’s stock in a transaction on Monday, December 18th. The shares were sold at an average price of $34.21, for a total transaction of $297,627.00. Following the transaction, the executive vice president now owns 18,593 shares of the company’s stock, valued at $636,066.53. The disclosure for this sale can be found here. Over the last quarter, insiders have purchased 7,900 shares of company stock valued at $256,063. Corporate insiders own 1.00% of the company’s stock.
A number of large investors have recently added to or reduced their stakes in SLCA. Brown Advisory Inc. acquired a new position in U.S. Silica during the 4th quarter valued at $200,000. Granite Springs Asset Management LLC acquired a new position in U.S. Silica during the 4th quarter valued at $215,000. Lee Financial Co acquired a new position in U.S. Silica during the 4th quarter valued at $225,000. Phoenix Investment Adviser LLC acquired a new position in U.S. Silica during the 4th quarter valued at $228,000. Finally, Gabelli Funds LLC acquired a new position in U.S. Silica during the 4th quarter valued at $228,000. Hedge funds and other institutional investors own 97.69% of the company’s stock.
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U.S. Silica Company Profile
U.S. Silica Holdings, Inc is a domestic producer of commercial silica, a specialized mineral that is an input into a range of end markets. The Company operates in two segments: Oil & Gas Proppants, and Industrial & Specialty Products. In the Oil & Gas Proppants segment, it serves the oil and gas recovery market providing fracturing sand, or frac sand, which is pumped down oil and natural gas wells to prop open rock fissures and manage the flow rate of natural gas and oil from the wells.
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