Raymond James Upgrades Hi-Crush Partners LP to Strong Buy

Brokerage firm Raymond James Upgrades its rating on Hi-Crush Partners LP(NYSE:HCLP). The shares have been rated Strong Buy. Previously, the analysts had a Market Perform rating on the shares. The rating by Raymond James was issued on Jun 15, 2016.

In a different note, On Jun 13, 2016, DA Davidson said it Downgrades its rating on Hi-Crush Partners LP. The shares have been rated ‘Underperform’ by the firm. On Jun 1, 2016, Credit Suisse said it Upgrades its rating on Hi-Crush Partners LP. In the research note, the firm Raises the price-target to $7.00 per share. The shares have been rated ‘Outperform’ by the firm.

Hi-Crush Partners LP (HCLP) made into the market gainers list on Tuesdays trading session with the shares advancing 2.35% or 0.28 points. Due to strong positive momentum, the stock ended at $12.2, which is also near the day’s high of $12.5. The stock began the session at $11.72 and the volume stood at 7,30,622 shares. The 52-week high of the shares is $32.345 and the 52 week low is $3.55. The company has a current market capitalization of $452 M and it has 3,70,63,547 shares in outstanding.

Hi-Crush Partners LP(HCLP) last announced its earnings results on Apr 28, 2016 for Fiscal Year 2016 and Q1.Company reported revenue of $52.15M. Analysts had an estimated revenue of $54.20M. Earnings per share were $-0.48. Analysts had estimated an EPS of $-0.14.

Several Insider Transactions has been reported to the SEC. 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.

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