Wunderlich Upgrades Hi-Crush Partners LP to Buy with Price Target $29

Brokerage firm Wunderlich Upgrades its rating on Hi-Crush Partners LP(HCLP). As per the latest information, Wunderlich Raises the price target to $29 per share from a prior target of $20. The shares have been rated Buy. Previously, the analysts had a Hold rating on the shares. The rating by the stock financial advisor at Wunderlich was issued on Feb 22, 2017 in a research report to their Investors and Clients.

Hi-Crush Partners LP (HCLP) made into the market gainers list on Wednesdays trading session with the shares advancing 2.57% or 0.55 points. Due to strong positive momentum, the stock ended at $21.95, which is also near the day’s high of $23.3. The stock began the session at $21.25 and the volume stood at 18,88,545 shares. The 52-week high of the shares is $23.3 and the 52 week low is $3.55. The company has a current market capitalization of $1,398 M and it has 6,36,68,244 shares in outstanding.

Hi-Crush Partners LP(HCLP) last announced its earnings results on Oct 31, 2016 for Fiscal Year 2016 and Q3.Company reported revenue of $46.56M. Analysts had an estimated revenue of $47.67M. Earnings per share were $-0.21. The reported EPS was above estimates by $0.06 or NaN%. Analysts had estimated an EPS of $-0.15.

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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