Smart Sand (NASDAQ:SND) Lifted to “Buy” at Zacks Investment Research

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Zacks Investment Research upgraded shares of Smart Sand (NASDAQ:SND) from a hold rating to a buy rating in a research note published on Friday, Zacks.com reports. They currently have $2.75 price objective on the stock.

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 subject of several other reports. Piper Jaffray Companies set a $4.00 target price on shares of Smart Sand and gave the stock a hold rating in a report on Wednesday, May 8th. B. Riley raised shares of Smart Sand from a neutral rating to a buy rating and lifted their target price for the stock from $4.50 to $5.00 in a report on Wednesday, July 17th. Finally, Evercore ISI set a $5.00 target price on shares of Smart Sand and gave the stock a hold rating in a report on Wednesday, August 7th. Three investment analysts have rated the stock with a sell rating, three have issued a hold rating and three have assigned a buy rating to the company’s stock. The company has an average rating of Hold and a consensus price target of $3.97.

NASDAQ:SND opened at $2.51 on Friday. Smart Sand has a one year low of $1.92 and a one year high of $5.56. The company has a debt-to-equity ratio of 0.11, a current ratio of 0.91 and a quick ratio of 0.75. The company’s 50-day simple moving average is $2.35 and its 200 day simple moving average is $3.18. The firm has a market capitalization of $99.99 million, a P/E ratio of 3.10 and a beta of 2.25.

Smart Sand (NASDAQ:SND) last issued its earnings results on Wednesday, August 7th. The company reported $0.36 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.15 by $0.21. The business had revenue of $67.90 million during the quarter, compared to analysts’ expectations of $57.03 million. Smart Sand had a net margin of 11.06% and a return on equity of 18.46%. The business’s revenue for the quarter was up 24.8% compared to the same quarter last year. During the same period in the previous year, the company earned $0.25 earnings per share. On average, equities research analysts expect that Smart Sand will post 0.77 earnings per share for the current fiscal year.

In other news, CEO Charles Edwin Young bought 17,500 shares of the firm’s stock in a transaction on Thursday, June 13th. The stock was acquired at an average cost of $2.86 per share, with a total value of $50,050.00. Following the completion of the acquisition, the chief executive officer now owns 267,401 shares of the company’s stock, valued at $764,766.86. The transaction was disclosed in a document filed with the SEC, which is available through this hyperlink. 47.80% of the stock is currently owned by insiders.

Institutional investors and hedge funds have recently added to or reduced their stakes in the company. Group One Trading L.P. purchased a new position in shares of Smart Sand during the first quarter valued at approximately $28,000. Connor Clark & Lunn Investment Management Ltd. purchased a new position in shares of Smart Sand during the second quarter valued at approximately $28,000. Two Sigma Investments LP purchased a new position in shares of Smart Sand during the fourth quarter valued at approximately $25,000. D. E. Shaw & Co. Inc. purchased a new position in shares of Smart Sand during the fourth quarter valued at approximately $26,000. Finally, Jane Street Group LLC purchased a new position in shares of Smart Sand during the fourth quarter valued at approximately $30,000. 35.23% of the stock is owned by hedge funds and other institutional investors.

Smart Sand Company Profile

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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