Credit Suisse Group Lowers Hi-Crush Partners (HCLP) to Underperform

Hi-Crush Partners (NYSE:HCLP) was downgraded by stock analysts at Credit Suisse Group from a “neutral” rating to an “underperform” rating in a research note issued to investors on Wednesday, The Fly reports.

Several other brokerages have also issued reports on HCLP. UBS Group decreased their price objective on Hi-Crush Partners from $10.00 to $7.00 and set a “hold” rating for the company in a research report on Monday, November 5th. AltaCorp Capital lowered Hi-Crush Partners from an “outperform” rating to a “sector perform” rating in a research report on Tuesday, October 16th. Jefferies Financial Group lowered Hi-Crush Partners from a “hold” rating to an “underperform” rating and set a $6.00 price objective for the company. in a research report on Wednesday, October 17th. Seaport Global Securities set a $16.00 price objective on Hi-Crush Partners and gave the company a “buy” rating in a research report on Thursday, October 18th. Finally, Piper Jaffray Companies set a $10.00 price objective on Hi-Crush Partners and gave the company a “hold” rating in a research report on Tuesday, October 2nd. Six research analysts have rated the stock with a sell rating, eight have given a hold rating and four have given a buy rating to the stock. The company has an average rating of “Hold” and a consensus target price of $11.73.

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Shares of HCLP opened at $3.91 on Wednesday. The company has a debt-to-equity ratio of 0.53, a current ratio of 2.70 and a quick ratio of 2.18. Hi-Crush Partners has a 52-week low of $3.77 and a 52-week high of $16.65. The company has a market capitalization of $419.62 million, a P/E ratio of 3.87 and a beta of 1.50.

Hi-Crush Partners (NYSE:HCLP) last issued its quarterly earnings data on Tuesday, October 30th. The basic materials company reported $0.36 earnings per share (EPS) for the quarter, beating 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 business had revenue of $213.97 million during the quarter, compared to analyst estimates of $212.11 million. During the same period in the previous year, the firm earned $0.32 EPS. Hi-Crush Partners’s quarterly revenue was up 27.7% compared to the same quarter last year. Equities analysts forecast that Hi-Crush Partners will post 1.55 EPS for the current year.

Large investors have recently added to or reduced their stakes in the business. Janney Montgomery Scott LLC bought a new stake in shares of Hi-Crush Partners during the 3rd quarter worth approximately $124,000. Wedbush Securities Inc. bought a new stake in shares of Hi-Crush Partners during the 3rd quarter worth approximately $151,000. Private Advisor Group LLC bought a new stake in shares of Hi-Crush Partners during the 2nd quarter worth approximately $167,000. B. Riley Wealth Management Inc. bought a new stake in shares of Hi-Crush Partners during the 3rd quarter worth approximately $191,000. Finally, Ingalls & Snyder LLC bought a new stake in shares of Hi-Crush Partners during the 2nd quarter worth approximately $198,000. 13.35% of the stock is owned by hedge funds and other institutional investors.

About Hi-Crush Partners

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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