Smart Sand Inc (NASDAQ:SND) was downgraded by research analysts at Jefferies Group LLC from a “buy” rating to a “hold” rating in a research note issued to investors on Wednesday.
Several other research firms also recently weighed in on SND. Piper Jaffray Companies set a $10.00 price objective on Smart Sand and gave the company a “buy” rating in a report on Sunday. Credit Suisse Group increased their price target on Smart Sand from $5.50 to $8.50 and gave the stock a “neutral” rating in a report on Tuesday. BidaskClub raised Smart Sand from a “hold” rating to a “buy” rating in a report on Tuesday, September 26th. Zacks Investment Research raised Smart Sand from a “sell” rating to a “hold” rating in a report on Tuesday, October 31st. Finally, Deutsche Bank AG started coverage on Smart Sand in a report on Tuesday, October 10th. They set a “buy” rating and a $9.00 price target for the company. Six investment analysts have rated the stock with a hold rating and six have issued a buy rating to the company. Smart Sand presently has an average rating of “Buy” and an average price target of $13.28.
Shares of Smart Sand (SND) opened at $8.42 on Wednesday. The firm has a market capitalization of $342.94 and a P/E ratio of 12.67. Smart Sand has a fifty-two week low of $4.81 and a fifty-two week high of $21.99.
Smart Sand (NASDAQ:SND) last posted its quarterly earnings data on Thursday, November 9th. The company reported $0.17 earnings per share for the quarter, beating the Thomson Reuters’ consensus estimate of $0.10 by $0.07. The business had revenue of $39.33 million during the quarter, compared to the consensus estimate of $33.60 million. Smart Sand had a return on equity of 14.41% and a net margin of 18.67%. The company’s revenue was up 259.8% compared to the same quarter last year. During the same period in the prior year, the company earned $0.06 earnings per share. research analysts anticipate that Smart Sand will post 0.33 EPS for the current fiscal year.
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In other Smart Sand news, VP Robert Kiszka bought 10,000 shares of Smart Sand stock in a transaction on Friday, August 25th. The stock was bought at an average price of $5.53 per share, with a total value of $55,300.00. Following the completion of the acquisition, the vice president now owns 110,629 shares in the company, valued at $611,778.37. The purchase was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink.
A number of institutional investors have recently added to or reduced their stakes in SND. Royal Bank of Canada lifted its holdings in Smart Sand by 1,651.3% in the second quarter. Royal Bank of Canada now owns 11,436 shares of the company’s stock valued at $101,000 after acquiring an additional 10,783 shares during the period. American International Group Inc. acquired a new stake in Smart Sand in the first quarter valued at $116,000. SG Americas Securities LLC acquired a new stake in Smart Sand in the third quarter valued at $128,000. Wall Street Access Asset Management LLC lifted its holdings in Smart Sand by 19.6% in the second quarter. Wall Street Access Asset Management LLC now owns 16,510 shares of the company’s stock valued at $147,000 after acquiring an additional 2,705 shares during the period. Finally, Metropolitan Life Insurance Co. NY acquired a new stake in Smart Sand in the first quarter valued at $156,000. 56.41% of the stock is owned by institutional investors.
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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