Smart Sand Inc (SND) Cut to Hold at Zacks Investment Research
Zacks Investment Research downgraded shares of Smart Sand Inc (NYSE:SND) from a buy rating to a hold rating in a research note issued to investors on Saturday morning.
According to Zacks, “Smart Sand, Inc. is a producer of northern white raw frac sand for the oil and gas industry. It offers proppant and related logistics services for oil and gas recovery from unconventional wells. Smart Sand, Inc. is headquartered in the Woodlands, Texas. “
SND has been the subject of a number of other reports. Deutsche Bank AG reissued a buy rating and set a $18.00 price objective (down from $21.00) on shares of Smart Sand in a research report on Tuesday, May 30th. Johnson Rice raised Smart Sand from an accumulate rating to a buy rating and raised their price objective for the stock from $20.00 to $21.00 in a research report on Friday, March 17th. Jefferies Group LLC reissued a buy rating and set a $22.00 price objective on shares of Smart Sand in a research report on Friday, March 24th. Janney Montgomery Scott initiated coverage on Smart Sand in a research report on Thursday. They set a buy rating and a $13.00 price objective for the company. Finally, Evercore ISI initiated coverage on Smart Sand in a research report on Thursday, May 25th. They set an in-line rating and a $12.00 price objective for the company. Three investment analysts have rated the stock with a hold rating and eight have given a buy rating to the stock. The company currently has an average rating of Buy and an average target price of $16.00.
Shares of Smart Sand (NYSE:SND) opened at 7.90 on Friday. The stock has a market capitalization of $318.69 million and a price-to-earnings ratio of 20.90. Smart Sand has a 52 week low of $7.73 and a 52 week high of $21.99. The stock’s 50 day moving average is $10.66 and its 200-day moving average is $14.69.
Smart Sand (NYSE:SND) last issued its quarterly earnings data on Thursday, May 11th. The company reported $0.02 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.05 by $0.03. The company had revenue of $25 million during the quarter, compared to analysts’ expectations of $18.13 million. Smart Sand’s quarterly revenue was up 140.4% compared to the same quarter last year. On average, analysts anticipate that Smart Sand will post $0.46 earnings per share for the current fiscal year.
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A number of institutional investors have recently made changes to their positions in SND. Credit Suisse AG boosted its position in shares of Smart Sand by 6.6% in the first quarter. Credit Suisse AG now owns 16,728 shares of the company’s stock worth $272,000 after buying an additional 1,038 shares during the period. Teachers Advisors LLC boosted its position in shares of Smart Sand by 6.8% in the first quarter. Teachers Advisors LLC now owns 19,715 shares of the company’s stock worth $320,000 after buying an additional 1,247 shares during the period. Nationwide Fund Advisors boosted its position in shares of Smart Sand by 28.6% in the first quarter. Nationwide Fund Advisors now owns 7,190 shares of the company’s stock worth $117,000 after buying an additional 1,597 shares during the period. American International Group Inc. purchased a new position in shares of Smart Sand during the first quarter worth approximately $116,000. Finally, Winslow Evans & Crocker Inc. boosted its position in shares of Smart Sand by 48.9% in the first quarter. Winslow Evans & Crocker Inc. now owns 27,726 shares of the company’s stock worth $451,000 after buying an additional 9,100 shares during the period.
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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