Smart Sand (SND) Downgraded by Jefferies Financial Group

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Jefferies Financial Group lowered shares of Smart Sand (NASDAQ:SND) from a hold rating to an underperform rating in a research note released on Wednesday morning, Marketbeat.com reports. The firm currently has $3.00 price target on the stock. Jefferies Financial Group also issued estimates for Smart Sand’s Q3 2018 earnings at $0.27 EPS, Q4 2018 earnings at $0.20 EPS, FY2018 earnings at $0.75 EPS, Q1 2019 earnings at $0.20 EPS, Q2 2019 earnings at $0.18 EPS, Q3 2019 earnings at $0.18 EPS, Q4 2019 earnings at $0.15 EPS, FY2019 earnings at $0.70 EPS and FY2020 earnings at $0.45 EPS.

SND has been the topic of several other research reports. Stifel Nicolaus began coverage on shares of Smart Sand in a research note on Monday, September 10th. They issued a hold rating and a $5.50 price objective on the stock. Zacks Investment Research raised shares of Smart Sand from a hold rating to a buy rating and set a $5.75 price objective on the stock in a research note on Wednesday, July 25th. ValuEngine cut shares of Smart Sand from a sell rating to a strong sell rating in a research note on Thursday, September 6th. Finally, Johnson Rice cut shares of Smart Sand from a buy rating to a hold rating and set a $21.00 price objective on the stock. in a research note on Tuesday, June 26th. Two research analysts have rated the stock with a sell rating, six have assigned a hold rating and four have given a buy rating to the company. The company has a consensus rating of Hold and an average price target of $8.69.

Shares of NASDAQ:SND opened at $2.95 on Wednesday. The firm has a market cap of $128.75 million, a PE ratio of 6.19 and a beta of 2.86. The company has a debt-to-equity ratio of 0.22, a current ratio of 1.57 and a quick ratio of 1.19. Smart Sand has a 52-week low of $2.87 and a 52-week high of $11.06.

Smart Sand (NASDAQ:SND) last announced its quarterly earnings results on Thursday, August 9th. The company reported $0.25 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.21 by $0.04. The company had revenue of $54.40 million during the quarter, compared to the consensus estimate of $52.43 million. Smart Sand had a net margin of 16.12% and a return on equity of 10.72%. The company’s revenue for the quarter was up 82.6% compared to the same quarter last year. During the same period in the prior year, the business earned $0.06 earnings per share. On average, sell-side analysts anticipate that Smart Sand will post 0.89 EPS for the current year.

A number of institutional investors and hedge funds have recently modified their holdings of the business. Bank of New York Mellon Corp boosted its position in Smart Sand by 8.5% during the second quarter. Bank of New York Mellon Corp now owns 126,835 shares of the company’s stock valued at $674,000 after acquiring an additional 9,930 shares during the last quarter. Northern Trust Corp boosted its position in Smart Sand by 5.3% during the first quarter. Northern Trust Corp now owns 249,509 shares of the company’s stock valued at $1,452,000 after acquiring an additional 12,645 shares during the last quarter. Wells Fargo & Company MN boosted its position in Smart Sand by 3.9% during the first quarter. Wells Fargo & Company MN now owns 516,888 shares of the company’s stock valued at $3,009,000 after acquiring an additional 19,228 shares during the last quarter. Schwab Charles Investment Management Inc. boosted its position in Smart Sand by 29.3% during the first quarter. Schwab Charles Investment Management Inc. now owns 97,205 shares of the company’s stock valued at $566,000 after acquiring an additional 22,012 shares during the last quarter. Finally, Hartford Investment Management Co. bought a new stake in Smart Sand during the second quarter valued at $121,000. 43.07% of the stock is currently owned by institutional investors and hedge funds.

About Smart Sand

Smart Sand, Inc engages in the excavation, processing, and sale of industrial sands for use in hydraulic fracturing operations in the oil and gas industry in the United States. The company sells its products primarily to oil and natural gas exploration and production companies, and oilfield service companies.

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