B. Riley assumed coverage on shares of Hi-Crush Partners (NYSE:HCLP) in a research note released on Wednesday morning. The firm issued a buy rating and a $16.00 target price on the basic materials company’s stock.

HCLP has been the topic of a number of other reports. Jefferies Group set a $15.00 price target on Hi-Crush Partners and gave the stock a buy rating in a report on Monday, August 28th. Cowen reaffirmed a buy rating and set a $12.00 target price on shares of Hi-Crush Partners in a research report on Sunday, September 17th. Zacks Investment Research lowered Hi-Crush Partners from a hold rating to a sell rating in a research report on Wednesday, October 11th. BidaskClub lowered Hi-Crush Partners from a sell rating to a strong sell rating in a research report on Friday, August 18th. Finally, Piper Jaffray Companies initiated coverage on Hi-Crush Partners in a research report on Monday, September 25th. They set an overweight rating and a $11.75 target price on the stock. One analyst has rated the stock with a sell rating, two have given a hold rating and twelve have issued a buy rating to the company. Hi-Crush Partners presently has an average rating of Buy and an average target price of $16.36.

Hi-Crush Partners (NYSE:HCLP) traded down $0.55 during trading on Wednesday, hitting $10.00. The company’s stock had a trading volume of 1,515,700 shares, compared to its average volume of 1,871,329. The company has a market cap of $960.37, a PE ratio of 32.97 and a beta of 0.94. Hi-Crush Partners has a 52-week low of $7.25 and a 52-week high of $23.30. The company has a debt-to-equity ratio of 0.24, a current ratio of 1.77 and a quick ratio of 1.29.

Hi-Crush Partners (NYSE:HCLP) last posted its quarterly earnings results on Tuesday, October 31st. The basic materials company reported $0.32 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.40 by ($0.08). The business had revenue of $167.58 million for the quarter, compared to the consensus estimate of $168.95 million. Hi-Crush Partners had a return on equity of 5.01% and a net margin of 7.09%. Hi-Crush Partners’s quarterly revenue was up 259.9% on a year-over-year basis. During the same quarter in the previous year, the company posted ($0.21) earnings per share. sell-side analysts expect that Hi-Crush Partners will post 0.97 earnings per share for the current fiscal year.

The business also recently declared a quarterly dividend, which was paid on Tuesday, November 14th. Investors of record on Tuesday, October 31st were given a $0.15 dividend. This represents a $0.60 dividend on an annualized basis and a yield of 6.00%. The ex-dividend date was Monday, October 30th. Hi-Crush Partners’s payout ratio is currently 187.51%.

Hi-Crush Partners announced that its board has approved a share repurchase plan on Tuesday, October 17th that authorizes the company to repurchase $100.00 million in shares. This repurchase authorization authorizes the basic materials company to repurchase shares of its stock through open market purchases. Shares repurchase plans are often a sign that the company’s management believes its stock is undervalued.

A number of hedge funds and other institutional investors have recently added to or reduced their stakes in the stock. GSA Capital Partners LLP purchased a new stake in Hi-Crush Partners in the 3rd quarter valued at $129,000. Griffin Asset Management Inc. purchased a new stake in shares of Hi-Crush Partners during the 3rd quarter valued at $316,000. L & S Advisors Inc increased its position in shares of Hi-Crush Partners by 161.9% during the 3rd quarter. L & S Advisors Inc now owns 134,575 shares of the basic materials company’s stock valued at $1,278,000 after purchasing an additional 83,200 shares during the last quarter. Southport Management L.L.C. increased its position in shares of Hi-Crush Partners by 50.0% during the 3rd quarter. Southport Management L.L.C. now owns 30,000 shares of the basic materials company’s stock valued at $285,000 after purchasing an additional 10,000 shares during the last quarter. Finally, Pinnacle Associates Ltd. increased its position in shares of Hi-Crush Partners by 103.2% during the 3rd quarter. Pinnacle Associates Ltd. now owns 29,460 shares of the basic materials company’s stock valued at $280,000 after purchasing an additional 14,960 shares during the last quarter. 44.03% of the stock is owned by institutional investors and hedge funds.

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Hi-Crush Partners Company Profile

Hi-Crush Partners LP is an integrated producer, transporter, marketer and distributor of monocrystalline sand, a specialized mineral that is used as a proppant to manage the recovery rates of hydrocarbons from oil and natural gas wells. Its reserves consist of northern white sand, a resource in Wisconsin and limited portions of the upper Midwest region of the United States.

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

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