Brokerages Set Hi-Crush Partners LP (NYSE:HCLP) Target Price at $9.32

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Shares of Hi-Crush Partners LP (NYSE:HCLP) have been assigned an average recommendation of “Hold” from the eighteen brokerages that are covering the stock, MarketBeat reports. Five investment analysts have rated the stock with a sell recommendation, eleven have given a hold recommendation and one has assigned a buy recommendation to the company. The average twelve-month price objective among brokerages that have updated their coverage on the stock in the last year is $9.32.

A number of analysts have recently issued reports on the stock. Barclays reiterated a “hold” rating on shares of Mettler-Toledo International in a report on Wednesday, May 15th. Jefferies Financial Group restated a “sell” rating on shares of Hi-Crush Partners in a report on Tuesday, April 2nd. Zacks Investment Research downgraded shares of Heritage Insurance from a “hold” rating to a “strong sell” rating in a report on Friday, April 26th. Finally, AltaCorp Capital upgraded shares of Hi-Crush Partners from an “underperform” rating to a “sector perform” rating in a report on Friday, May 10th.

NYSE HCLP opened at $2.30 on Friday. The company has a quick ratio of 1.21, a current ratio of 1.53 and a debt-to-equity ratio of 0.66. Hi-Crush Partners has a 12-month low of $2.09 and a 12-month high of $16.65. The firm has a market capitalization of $232.55 million, a P/E ratio of 1.54 and a beta of 2.01. The firm has a 50 day simple moving average of $2.31.

Hi-Crush Partners (NYSE:HCLP) last posted its quarterly earnings data on Tuesday, May 7th. The basic materials company reported ($0.06) earnings per share (EPS) for the quarter, missing the Zacks’ consensus estimate of ($0.01) by ($0.05). Hi-Crush Partners had a net margin of 9.99% and a return on equity of 10.24%. The business had revenue of $159.90 million during the quarter, compared to analyst estimates of $180.20 million. During the same quarter last year, the business earned $0.59 earnings per share. Hi-Crush Partners’s revenue for the quarter was down 26.7% on a year-over-year basis. On average, sell-side analysts predict that Hi-Crush Partners will post -0.04 earnings per share for the current fiscal year.

In related news, CFO Laura C. Fulton acquired 25,000 shares of Hi-Crush Partners stock in a transaction on Friday, June 7th. The stock was purchased at an average cost of $1.62 per share, with a total value of $40,500.00. Following the completion of the transaction, the chief financial officer now directly owns 379,019 shares in the company, valued at approximately $614,010.78. The purchase was disclosed in a document filed with the SEC, which is available through this link. Also, CEO Robert E. Rasmus acquired 100,000 shares of Hi-Crush Partners stock in a transaction on Friday, June 7th. The shares were bought at an average cost of $1.63 per share, with a total value of $163,000.00. Following the completion of the transaction, the chief executive officer now owns 122,189 shares of the company’s stock, valued at $199,168.07. The disclosure for this purchase can be found here. 34.80% of the stock is currently owned by insiders.

A number of hedge funds have recently added to or reduced their stakes in the business. California Public Employees Retirement System increased its position in shares of Hi-Crush Partners by 2.1% during the 4th quarter. California Public Employees Retirement System now owns 229,584 shares of the basic materials company’s stock worth $822,000 after purchasing an additional 4,742 shares in the last quarter. Private Advisor Group LLC increased its position in shares of Hi-Crush Partners by 73.0% during the 4th quarter. Private Advisor Group LLC now owns 31,500 shares of the basic materials company’s stock worth $113,000 after purchasing an additional 13,287 shares in the last quarter. Advisor Group Inc. increased its position in shares of Hi-Crush Partners by 29.0% during the 4th quarter. Advisor Group Inc. now owns 41,559 shares of the basic materials company’s stock worth $150,000 after purchasing an additional 9,340 shares in the last quarter. Hsbc Holdings PLC acquired a new stake in Hi-Crush Partners in the 4th quarter valued at about $58,000. Finally, CoreCommodity Management LLC acquired a new stake in Hi-Crush Partners in the 4th quarter valued at about $27,000. 5.28% of the stock is owned by hedge funds and other institutional investors.

Hi-Crush Partners Company Profile

Hi-Crush Partners LP, together with its subsidiaries, provides proppant and logistics solutions to the petroleum industry in North America. The company offers raw frac sand used in hydraulic fracturing process for oil and natural gas wells. It owns and operates multiple frac sand mining facilities, which include a 971-acre facility with integrated rail infrastructure located in Wyeville, Wisconsin; a 1,187-acre facility with integrated rail infrastructure located in Eau Claire County, Wisconsin; a 1,285-acre facility with integrated rail infrastructure located in Blair, Wisconsin; and a 1,626-acre facility with integrated rail infrastructure located in Independence, Wisconsin and Whitehall, Wisconsin.

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Analyst Recommendations for Hi-Crush Partners (NYSE:HCLP)

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