Smart Sand Inc (NYSE:SND) received a $10.00 target price from equities research analysts at Piper Jaffray Companies in a note issued to investors on Sunday. The firm presently has a “buy” rating on the stock. Piper Jaffray Companies’ price target suggests a potential upside of 17.79% from the stock’s previous close.
A number of other equities analysts have also issued reports on SND. BidaskClub upgraded Smart Sand from a “hold” rating to a “buy” rating in a research note on Tuesday, September 26th. Zacks Investment Research upgraded Smart Sand from a “sell” rating to a “hold” rating in a research note on Tuesday, October 31st. Jefferies Group LLC set a $7.00 price objective on Smart Sand and gave the company a “buy” rating in a research note on Thursday, October 5th. Deutsche Bank AG began coverage on Smart Sand in a research note on Tuesday, October 10th. They set a “buy” rating and a $9.00 price objective for the company. Finally, Credit Suisse Group lowered Smart Sand from an “outperform” rating to a “neutral” rating and reduced their price objective for the company from $20.00 to $8.50 in a research note on Thursday, July 20th. Five research analysts have rated the stock with a hold rating and seven have assigned a buy rating to the company’s stock. The stock currently has a consensus rating of “Buy” and an average target price of $13.28.
Shares of Smart Sand (SND) traded down $0.10 during mid-day trading on Friday, reaching $8.49. The company had a trading volume of 842,870 shares, compared to its average volume of 551,191. Smart Sand has a one year low of $4.81 and a one year high of $21.99.
Smart Sand (NYSE:SND) last issued its earnings results on Thursday, November 9th. The company reported $0.17 earnings per share (EPS) for the quarter, topping the Zacks’ consensus estimate of $0.10 by $0.07. The company had revenue of $39.33 million during the quarter, compared to analyst estimates of $33.60 million. Smart Sand had a return on equity of 6.22% and a net margin of 8.81%. The firm’s quarterly revenue was up 259.8% on a year-over-year basis. During the same quarter last year, the business posted $0.06 EPS.
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In related news, CEO Charles Edwin Young bought 100,000 shares of the stock in a transaction dated Wednesday, August 16th. The shares were acquired at an average cost of $5.18 per share, for a total transaction of $518,000.00. Following the acquisition, the chief executive officer now directly owns 140,600 shares in the company, valued at approximately $728,308. The acquisition was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Also, CFO Lee E. Beckelman bought 20,000 shares of the stock in a transaction dated Wednesday, August 16th. The shares were bought at an average price of $5.13 per share, for a total transaction of $102,600.00. Following the completion of the acquisition, the chief financial officer now owns 137,500 shares in the company, valued at $705,375. The disclosure for this purchase can be found here. Over the last quarter, insiders purchased 132,000 shares of company stock worth $685,960.
Institutional investors have recently modified their holdings of the company. Eagle Asset Management Inc. lifted its holdings in Smart Sand by 46.8% in the second quarter. Eagle Asset Management Inc. now owns 1,107,980 shares of the company’s stock valued at $9,872,000 after acquiring an additional 353,021 shares during the last quarter. American Century Companies Inc. acquired a new position in Smart Sand in the second quarter valued at approximately $1,249,000. Vanguard Group Inc. lifted its holdings in Smart Sand by 113.5% in the first quarter. Vanguard Group Inc. now owns 756,457 shares of the company’s stock valued at $12,292,000 after acquiring an additional 402,123 shares during the last quarter. Morgan Stanley lifted its holdings in Smart Sand by 176.7% in the first quarter. Morgan Stanley now owns 105,869 shares of the company’s stock valued at $1,720,000 after acquiring an additional 67,604 shares during the last quarter. Finally, Russell Investments Group Ltd. lifted its holdings in Smart Sand by 73.3% in the second quarter. Russell Investments Group Ltd. now owns 251,325 shares of the company’s stock valued at $2,239,000 after acquiring an additional 106,322 shares during the last quarter.
Smart Sand Company Profile
Smart Sand, Inc is a producer of Northern White raw frac sand, which is a proppant used to enhance hydrocarbon recovery rates in the hydraulic fracturing of oil and natural gas wells. The Company sells its products primarily to oil and natural gas exploration and production companies and oilfield service companies under a combination of long-term take-or-pay contracts and spot sales in the open market.
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