Hi-Crush Partners Gets a Buy Rating from Mizuho Securities

By Carrie Williams

In a report released today, Brian Zarahn from Mizuho Securities reiterated a Buy rating on Hi-Crush Partners (NYSE: HCLP), with a price target of $15. The company’s shares closed yesterday at $11.35.

According to TipRanks.com, Zarahn is a 3-star analyst with an average return of 3.4% and a 48.1% success rate. Zarahn covers the Basic Materials sector, focusing on stocks such as Energy Transfer Partners LP, Noble Midstream Partners LP, and Spectra Energy Partners.

Currently, the analyst consensus on Hi-Crush Partners is Strong Buy and the average price target is $16.61, representing a 46.3% upside.

In a report issued on March 27, Piper Jaffray also reiterated a Buy rating on the stock with a $12.25 price target.

Based on Hi-Crush Partners’ latest earnings report for the quarter ending December 31, the company posted quarterly revenue of $216 million and quarterly net profit of $43.18 million. In comparison, last year the company earned revenue of $83.36 million and had a GAAP net loss of $5.36 million.

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Hi-Crush Partners LP is engaged in the production of monocrystalline sand. It owns, operates, and develops sand reserves and related excavation as well as processing facilities. The company produces a wide range of frac sand and specialized mineral.