Hi-Crush Partners (HCLP) Downgraded to “Underweight” at Barclays

Hi-Crush Partners (NYSE:HCLP) was downgraded by research analysts at Barclays from an “equal weight” rating to an “underweight” rating in a report issued on Friday, MarketBeat Ratings reports. They currently have a $5.00 target price on the basic materials company’s stock. Barclays’ price target would suggest a potential downside of 27.01% from the stock’s current price.

Several other brokerages have also recently commented on HCLP. Johnson Rice cut Hi-Crush Partners from a “buy” rating to an “accumulate” rating and set a $18.00 price target for the company. in a research report on Monday, August 20th. AltaCorp Capital cut Hi-Crush Partners from an “outperform” rating to a “sector perform” rating in a research report on Tuesday, October 16th. Jefferies Financial Group cut Hi-Crush Partners from a “hold” rating to an “underperform” rating and set a $6.00 price target for the company. in a research report on Wednesday, October 17th. Seaport Global Securities set a $16.00 price target on Hi-Crush Partners and gave the stock a “buy” rating in a research report on Thursday, October 18th. Finally, Piper Jaffray Companies set a $10.00 price target on Hi-Crush Partners and gave the stock a “hold” rating in a research report on Tuesday, October 2nd. Four equities research analysts have rated the stock with a sell rating, ten have assigned a hold rating and four have assigned a buy rating to the company’s stock. The stock presently has a consensus rating of “Hold” and a consensus target price of $12.93.

Shares of HCLP traded down $0.66 during trading hours on Friday, hitting $6.85. 3,679,658 shares of the stock were exchanged, compared to its average volume of 2,427,638. The company has a debt-to-equity ratio of 0.53, a quick ratio of 1.47 and a current ratio of 2.70. Hi-Crush Partners has a 12-month low of $6.71 and a 12-month high of $16.65. The stock has a market capitalization of $690.93 million, a price-to-earnings ratio of 3.20 and a beta of 1.55.

Hi-Crush Partners (NYSE:HCLP) last issued its quarterly earnings results on Tuesday, October 30th. The basic materials company reported $0.36 EPS for the quarter, topping the Thomson Reuters’ consensus estimate of $0.31 by $0.05. Hi-Crush Partners had a return on equity of 24.52% and a net margin of 21.37%. The firm had revenue of $213.97 million during the quarter, compared to analysts’ expectations of $212.11 million. During the same period in the previous year, the business earned $0.32 earnings per share. The firm’s revenue for the quarter was up 27.7% on a year-over-year basis. On average, analysts predict that Hi-Crush Partners will post 1.88 earnings per share for the current year.

In other news, insider William E. Barker sold 12,367 shares of the company’s stock in a transaction on Wednesday, August 8th. The stock was sold at an average price of $12.90, for a total value of $159,534.30. The sale was disclosed in a document filed with the SEC, which is available at the SEC website. Also, insider William E. Barker sold 9,444 shares of the company’s stock in a transaction on Tuesday, September 18th. The shares were sold at an average price of $12.40, for a total value of $117,105.60. Following the completion of the transaction, the insider now directly owns 17,968 shares in the company, valued at approximately $222,803.20. The disclosure for this sale can be found here. Insiders own 34.80% of the company’s stock.

Several institutional investors have recently made changes to their positions in HCLP. Private Advisor Group LLC acquired a new position in shares of Hi-Crush Partners in the 2nd quarter valued at $167,000. Ingalls & Snyder LLC acquired a new position in shares of Hi-Crush Partners in the 2nd quarter valued at $198,000. Cambridge Investment Research Advisors Inc. acquired a new position in shares of Hi-Crush Partners in the 3rd quarter valued at $212,000. Usca Ria LLC acquired a new position in shares of Hi-Crush Partners in the 3rd quarter valued at $214,000. Finally, First National Trust Co acquired a new position in shares of Hi-Crush Partners in the 2nd quarter valued at $238,000. 24.90% of the stock is currently owned by institutional investors and hedge funds.

Hi-Crush Partners Company Profile

Hi-Crush Partners LP, together with its subsidiaries, provides proppant and logistics solutions to the energy industry in North America. The company produces monocrystalline sand, a specialized mineral used as a proppant during the well completion process to facilitate the recovery of hydrocarbons from oil and natural gas wells.

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

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