Smart Sand (NASDAQ:SND) was downgraded by Zacks Investment Research from a “buy” rating to a “hold” rating in a note issued to investors on Saturday.
According to Zacks, “Smart Sand, Inc. is a producer of northern white raw frac sand for the oil and gas industry. It offers proppant and related logistics services for oil and gas recovery from unconventional wells. Smart Sand, Inc. is headquartered in the Woodlands, Texas. “
SND has been the topic of a number of other reports. Seaport Global Securities set a $5.00 target price on shares of Smart Sand and gave the company a “buy” rating in a report on Thursday, October 18th. Stifel Nicolaus lowered their price objective on shares of Smart Sand from $5.50 to $5.00 and set a “hold” rating for the company in a research report on Wednesday, October 10th. Piper Jaffray Companies downgraded shares of Smart Sand from an “overweight” rating to a “neutral” rating and set a $4.00 price target for the company. in a research report on Tuesday, November 13th. ValuEngine downgraded shares of Smart Sand from a “sell” rating to a “strong sell” rating in a research report on Monday, September 24th. Finally, Credit Suisse Group cut Smart Sand from a “neutral” rating to an “underperform” rating and reduced their price objective for the stock from $5.50 to $2.00 in a research note on Monday, November 12th. Three investment analysts have rated the stock with a sell rating, five have assigned a hold rating and three have issued a buy rating to the company. The company presently has an average rating of “Hold” and a consensus target price of $6.28.
Smart Sand (NASDAQ:SND) last released its quarterly earnings results on Thursday, November 8th. The company reported $0.30 EPS for the quarter, beating the consensus estimate of $0.29 by $0.01. The firm had revenue of $63.10 million during the quarter, compared to the consensus estimate of $56.62 million. Smart Sand had a net margin of 16.73% and a return on equity of 12.77%. Smart Sand’s revenue for the quarter was up 60.6% on a year-over-year basis. During the same quarter in the prior year, the firm earned $0.17 EPS. As a group, research analysts anticipate that Smart Sand will post 0.69 earnings per share for the current fiscal year.
In other news, CFO Lee E. Beckelman purchased 15,800 shares of the business’s stock in a transaction dated Tuesday, November 13th. The shares were acquired at an average price of $3.18 per share, with a total value of $50,244.00. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through the SEC website. 46.60% of the stock is currently owned by insiders.
Several institutional investors have recently made changes to their positions in the business. Bank of New York Mellon Corp boosted its stake in Smart Sand by 8.5% in the 2nd quarter. Bank of New York Mellon Corp now owns 126,835 shares of the company’s stock valued at $674,000 after buying an additional 9,930 shares in the last quarter. GSA Capital Partners LLP bought a new stake in Smart Sand in the second quarter valued at about $173,000. BlackRock Inc. increased its holdings in Smart Sand by 5.0% in the second quarter. BlackRock Inc. now owns 1,441,858 shares of the company’s stock valued at $7,657,000 after purchasing an additional 68,674 shares during the last quarter. Dimensional Fund Advisors LP increased its holdings in Smart Sand by 268.3% in the second quarter. Dimensional Fund Advisors LP now owns 727,373 shares of the company’s stock valued at $3,862,000 after purchasing an additional 529,904 shares during the last quarter. Finally, FMR LLC increased its holdings in shares of Smart Sand by 28.1% in the second quarter. FMR LLC now owns 2,786,228 shares of the company’s stock worth $14,795,000 after acquiring an additional 611,873 shares in the last quarter. Institutional investors own 40.51% of the company’s stock.
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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