Hi-Crush Partners LP (HCLP) is Upgraded by Jefferies to Buy, Raises Price Target to $ 20

Hi-Crush Partners LP (HCLP) was Upgraded by Jefferies to ” Buy” according to the research note released today. The brokerage firm has raised the Price Target to $ 20 from a previous price target of $6 . Earlier the firm had a rating of “Hold ” on the company shares. Jefferies advised their investors in a research report released on Jul 11, 2016.

Many Wall Street Analysts have commented on Hi-Crush Partners LP. Company shares were Upgraded by Jefferies on Jul 11, 2016 to ” Buy”, Firm has raised the Price Target to $ 20 from a previous price target of $6 .Hi-Crush Partners LP was Upgraded by Raymond James to ” Strong Buy” on Jun 15, 2016. Company shares were Reiterated by Wunderlich on Jun 14, 2016 to “Hold”, Firm has raised the Price Target to $ 11 from a previous price target of $6 .

On the company’s financial health, Hi-Crush Partners LP reported $-0.48 EPS for the quarter, missing the analyst consensus estimate by $ -0.33 based on the information available during the earnings call on Apr 28, 2016. Analyst had a consensus of $-0.15. The company had revenue of $52.15 million for the quarter, compared to analysts expectations of $53.90 million. The company’s revenue was down -48.9 % compared to the same quarter last year.During the same quarter in the previous year, the company posted $0.60 EPS.

Hi-Crush Partners LP opened for trading at $12.82 and hit $13.22 on the upside on Friday, eventually ending the session at $12.79, with a gain of 1.19% or 0.15 points. The heightened volatility saw the trading volume jump to 3,50,151 shares. Company has a market cap of $474 M.

In a different news, on Aug 19, 2015, Robert E. Rasmus (CEO) purchased 28,089 shares at $15.64 per share price.

Hi-Crush Partners LP is a producer and supplier of monocrystalline sand. The Company is a limited partnership formed to acquire selected sand reserves and related processing and transportation facilities of Hi-Crush Proppants LLC. Its reserves consist of northern white sand a resource in Wisconsin and limited portions of the upper Midwest region of the United States. It owns operates and develops sand reserves and related excavation and processing facilities. Its 751-acre facility with rail infrastructure located in Wyeville Wisconsin enables it to process and deliver approximately 1600000 tons of 20/70 frac sand per year. It also holds a 98% interest in Augusta. The Company owns and operates the Wyeville facility which is located in Monroe County Wisconsin and contains approximately 75.5 million tons of recoverable reserves of frac sand.

Hi-Crush Partners LP

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