Morgan Stanley Downgrades U.S. Silica (SLCA) to Weight
U.S. Silica (NYSE:SLCA) was downgraded by equities research analysts at Morgan Stanley from an “equal” rating to a “weight” rating in a research report issued to clients and investors on Thursday, MarketBeat reports. They currently have a $18.00 target price on the mining company’s stock. Morgan Stanley’s price target would suggest a potential downside of 2.07% from the stock’s current price.
Other analysts have also recently issued reports about the company. Credit Suisse Group raised their price target on U.S. Silica from $36.00 to $38.00 and gave the company an “outperform” rating in a research note on Wednesday, August 1st. Wells Fargo & Co cut U.S. Silica from an “outperform” rating to a “market perform” rating and set a $32.00 price target on the stock. in a research note on Friday, June 29th. Guggenheim cut U.S. Silica from a “buy” rating to a “neutral” rating in a research note on Friday, July 6th. Seaport Global Securities restated a “buy” rating and issued a $46.00 price target on shares of U.S. Silica in a research note on Thursday, August 2nd. Finally, Barclays set a $40.00 price target on U.S. Silica and gave the company a “buy” rating in a research note on Wednesday, August 1st. Three equities research analysts have rated the stock with a sell rating, six have assigned a hold rating and thirteen have issued a buy rating to the company. U.S. Silica presently has a consensus rating of “Hold” and a consensus target price of $32.74.
Shares of NYSE SLCA opened at $18.38 on Thursday. The firm has a market capitalization of $1.46 billion, a PE ratio of 12.25 and a beta of 2.16. The company has a debt-to-equity ratio of 0.99, a quick ratio of 2.27 and a current ratio of 2.88. U.S. Silica has a 12-month low of $17.91 and a 12-month high of $38.70.
In other news, EVP Bradford B. Casper bought 1,500 shares of the business’s stock in a transaction dated Friday, September 28th. The shares were acquired at an average price of $18.96 per share, for a total transaction of $28,440.00. Following the completion of the transaction, the executive vice president now owns 18,552 shares of the company’s stock, valued at $351,745.92. The purchase was disclosed in a legal filing with the SEC, which is available through this hyperlink. Also, Director J Michael Stice bought 5,414 shares of the business’s stock in a transaction dated Friday, September 28th. The shares were purchased at an average price of $18.49 per share, for a total transaction of $100,104.86. Following the transaction, the director now directly owns 32,556 shares of the company’s stock, valued at approximately $601,960.44. The disclosure for this purchase can be found here. Insiders have bought 9,614 shares of company stock worth $178,565 in the last quarter. Insiders own 1.40% of the company’s stock.
Several hedge funds and other institutional investors have recently added to or reduced their stakes in SLCA. LSV Asset Management grew its holdings in shares of U.S. Silica by 4,355.2% during the second quarter. LSV Asset Management now owns 3,965,084 shares of the mining company’s stock worth $101,863,000 after buying an additional 3,876,084 shares during the last quarter. Senvest Management LLC grew its holdings in shares of U.S. Silica by 383.2% during the second quarter. Senvest Management LLC now owns 1,779,057 shares of the mining company’s stock worth $45,704,000 after buying an additional 1,410,900 shares during the last quarter. Glenmede Trust Co. NA grew its holdings in shares of U.S. Silica by 423.0% during the second quarter. Glenmede Trust Co. NA now owns 1,271,066 shares of the mining company’s stock worth $32,653,000 after buying an additional 1,028,013 shares during the last quarter. BlackRock Inc. grew its holdings in shares of U.S. Silica by 6.1% during the second quarter. BlackRock Inc. now owns 11,068,906 shares of the mining company’s stock worth $284,360,000 after buying an additional 634,747 shares during the last quarter. Finally, BlueMountain Capital Management LLC purchased a new position in shares of U.S. Silica during the second quarter worth about $16,162,000. 99.21% of the stock is currently owned by hedge funds and other institutional investors.
About U.S. Silica
U.S. Silica Holdings, Inc produces and sells commercial silica in the United States. The company operates through two segments, Oil & Gas Proppants and Industrial & Specialty Products. It offers whole grain commercial silica products to be used as fracturing sand in connection with oil and natural gas recovery; and resin coated proppants, as well as sells its whole grain silica products in various size distributions, grain shapes, and chemical purity levels for manufacturing glass products.
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