Credit Suisse Group cut shares of Smart Sand Inc (NYSE:SND) from an outperform rating to a neutral rating in a research note released on Thursday, July 20th, Marketbeat.com reports. They currently have $8.50 price target on the stock, down from their previous price target of $20.00.
SND has been the subject of a number of other research reports. Janney Montgomery Scott assumed coverage on Smart Sand in a research report on Thursday, June 15th. They set a buy rating and a $13.00 target price for the company. Zacks Investment Research downgraded Smart Sand from a buy rating to a sell rating in a report on Thursday, July 13th. Jefferies Group LLC reiterated a buy rating and issued a $22.00 price objective on shares of Smart Sand in a report on Friday, March 24th. Deutsche Bank AG reiterated a buy rating and issued a $18.00 price objective (down previously from $21.00) on shares of Smart Sand in a report on Tuesday, May 30th. Finally, Simmons upped their price objective on Smart Sand from $21.00 to $22.00 and gave the company an overweight rating in a report on Tuesday, April 11th. One analyst has rated the stock with a sell rating, three have given a hold rating and seven have issued a buy rating to the company. The company has a consensus rating of Buy and an average target price of $14.95.
Smart Sand (NYSE SND) opened at 6.04 on Thursday. The company has a 50-day moving average of $7.42 and a 200-day moving average of $12.73. The stock has a market cap of $243.65 million and a P/E ratio of 15.98. Smart Sand has a 52 week low of $5.76 and a 52 week high of $21.99.
Smart Sand (NYSE:SND) last released its earnings results on Thursday, May 11th. The company reported $0.02 earnings per share for the quarter, missing analysts’ consensus estimates of $0.05 by $0.03. The firm had revenue of $25 million for the quarter, compared to the consensus estimate of $18.13 million. Smart Sand had a return on equity of 2.51% and a net margin of 3.87%. The business’s quarterly revenue was up 140.4% compared to the same quarter last year. On average, analysts predict that Smart Sand will post $0.43 EPS for the current fiscal year.
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Hedge funds have recently added to or reduced their stakes in the company. Victory Capital Management Inc. bought a new stake in Smart Sand during the first quarter valued at about $35,404,000. FMR LLC raised its stake in Smart Sand by 8.3% in the first quarter. FMR LLC now owns 1,591,800 shares of the company’s stock valued at $25,867,000 after buying an additional 121,645 shares in the last quarter. Goldman Sachs Group Inc. raised its stake in Smart Sand by 86.2% in the first quarter. Goldman Sachs Group Inc. now owns 1,405,119 shares of the company’s stock valued at $22,833,000 after buying an additional 650,587 shares in the last quarter. Eagle Asset Management Inc. raised its stake in Smart Sand by 46.8% in the second quarter. Eagle Asset Management Inc. now owns 1,107,980 shares of the company’s stock valued at $9,872,000 after buying an additional 353,021 shares in the last quarter. Finally, Vanguard Group Inc. raised its stake in Smart Sand by 113.5% in the first quarter. Vanguard Group Inc. now owns 756,457 shares of the company’s stock valued at $12,292,000 after buying an additional 402,123 shares in the last quarter.
About Smart Sand
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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