Hi-Crush Partners (HCLP) Shares Gap Up to $3.93

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Hi-Crush Partners LP (NYSE:HCLP) shares gapped up prior to trading on Friday . The stock had previously closed at $4.12, but opened at $3.93. Hi-Crush Partners shares last traded at $3.93, with a volume of 34765 shares changing hands.

HCLP has been the topic of a number of research analyst reports. Credit Suisse Group cut Hi-Crush Partners from a “neutral” rating to an “underperform” rating and reduced their target price for the company from $6.00 to $3.00 in a report on Wednesday, December 19th. Piper Jaffray Companies set a $10.00 target price on Hi-Crush Partners and gave the company a “hold” rating in a report on Tuesday, October 2nd. R. F. Lafferty set a $10.00 price objective on Hi-Crush Partners and gave the company a “buy” rating in a research report on Tuesday, December 4th. B. Riley reissued a “neutral” rating and issued a $6.50 price objective (down from $10.00) on shares of Hi-Crush Partners in a research report on Tuesday. Finally, Zacks Investment Research lowered Hi-Crush Partners from a “hold” rating to a “sell” rating in a research report on Thursday, October 25th. Seven investment analysts have rated the stock with a sell rating, ten have given a hold rating and two have issued a buy rating to the stock. The company currently has a consensus rating of “Hold” and an average price target of $10.70.

The stock has a market capitalization of $369.19 million, a PE ratio of 3.92 and a beta of 1.84. The company has a quick ratio of 2.18, a current ratio of 2.70 and a debt-to-equity ratio of 0.53.

Hi-Crush Partners (NYSE:HCLP) last posted its quarterly earnings results on Tuesday, October 30th. The basic materials company reported $0.36 EPS for the quarter, topping the Zacks’ consensus estimate of $0.31 by $0.05. The business had revenue of $213.97 million during the quarter, compared to the consensus estimate of $212.11 million. Hi-Crush Partners had a return on equity of 24.52% and a net margin of 21.37%. The company’s revenue for the quarter was up 27.7% compared to the same quarter last year. During the same period last year, the firm earned $0.32 earnings per share. Analysts predict that Hi-Crush Partners LP will post 1.53 EPS for the current fiscal year.

A number of large investors have recently bought and sold shares of HCLP. North Star Investment Management Corp. boosted its stake in Hi-Crush Partners by 40.2% in the fourth quarter. North Star Investment Management Corp. now owns 11,500 shares of the basic materials company’s stock valued at $41,000 after acquiring an additional 3,300 shares during the period. Janney Montgomery Scott LLC acquired a new position in Hi-Crush Partners in the third quarter valued at approximately $124,000. Wedbush Securities Inc. acquired a new position in Hi-Crush Partners in the third quarter valued at approximately $151,000. Private Advisor Group LLC acquired a new position in Hi-Crush Partners in the second quarter valued at approximately $167,000. Finally, B. Riley Wealth Management Inc. acquired a new position in Hi-Crush Partners in the third quarter valued at approximately $191,000. Institutional investors and hedge funds own 13.35% of the company’s stock.

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About Hi-Crush Partners (NYSE:HCLP)

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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