Zacks Investment Research Upgrades Smart Sand Inc (SND) to “Buy”

Smart Sand Inc (NYSE:SND) was upgraded by Zacks Investment Research from a “hold” rating to a “buy” rating in a research report issued to clients and investors on Thursday. The brokerage presently has a $16.00 price objective on the stock. Zacks Investment Research’s price target would indicate a potential upside of 6.45% from the stock’s current price.

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. “

Several other equities research analysts have also commented on SND. Jefferies Group LLC began coverage on shares of Smart Sand in a research note on Tuesday, December 13th. They set a “buy” rating and a $18.00 price target on the stock. Goldman Sachs Group Inc began coverage on shares of Smart Sand in a research note on Tuesday, November 29th. They set a “buy” rating and a $17.00 price target on the stock. Johnson Rice upgraded shares of Smart Sand from an “accumulate” rating to a “buy” rating and lifted their price target for the stock from $20.00 to $21.00 in a research note on Friday, March 17th. Deutsche Bank AG began coverage on shares of Smart Sand in a research note on Wednesday, November 30th. They set a “buy” rating and a $15.00 price target on the stock. Finally, Credit Suisse Group AG began coverage on shares of Smart Sand in a research note on Tuesday, November 29th. They set an “outperform” rating and a $14.00 price target on the stock. One analyst has rated the stock with a hold rating and seven have given a buy rating to the stock. The stock currently has an average rating of “Buy” and an average target price of $16.89.

Analyst Recommendations for Smart Sand (NYSE:SND)

Smart Sand (NYSE:SND) opened at 15.03 on Thursday. Smart Sand has a 52-week low of $10.30 and a 52-week high of $21.99. The firm has a market cap of $610.05 million and a P/E ratio of 35.79. The company’s 50 day moving average is $16.73 and its 200 day moving average is $15.63.

Smart Sand (NYSE:SND) last announced its quarterly earnings results on Thursday, March 16th. The company reported $0.40 EPS for the quarter, hitting the Thomson Reuters’ consensus estimate of $0.40. The company had revenue of $29.45 million for the quarter, compared to analyst estimates of $29.75 million. During the same quarter in the prior year, the business earned ($0.01) earnings per share. Smart Sand’s revenue was up 94.1% compared to the same quarter last year. Equities research analysts forecast that Smart Sand will post $0.50 EPS for the current fiscal year.

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In other Smart Sand news, CEO Charles Edwin Young sold 1,302,927 shares of the firm’s stock in a transaction on Tuesday, February 7th. The shares were sold at an average price of $17.50, for a total transaction of $22,801,222.50. The sale was disclosed in a filing with the SEC, which is available through this hyperlink. Also, insider Susan E. Neumann sold 2,402 shares of the firm’s stock in a transaction on Tuesday, February 7th. The stock was sold at an average price of $17.50, for a total transaction of $42,035.00. Following the transaction, the insider now directly owns 33,254 shares in the company, valued at $581,945. The disclosure for this sale can be found here. Insiders have sold a total of 3,824,163 shares of company stock worth $64,704,840 over the last three months.

A number of hedge funds and other institutional investors have recently modified their holdings of SND. GLG Partners LP acquired a new position in shares of Smart Sand during the fourth quarter valued at about $2,724,000. GLG LLC acquired a new position in shares of Smart Sand during the fourth quarter valued at about $619,000. Hawkins Capital L.P. acquired a new position in shares of Smart Sand during the fourth quarter valued at about $297,000. Russell Investments Group Ltd. acquired a new position in shares of Smart Sand during the fourth quarter valued at about $2,216,000. Finally, Putnam Investments LLC acquired a new position in shares of Smart Sand during the fourth quarter valued at about $3,944,000.

About Smart Sand

Smart Sand, Inc is a producer of Northern White raw frac sand. The Company sells its products primarily to oil and natural gas exploration and production companies, and oilfield service companies. The Company owns and operates a raw frac sand mine and related processing facility near Oakdale, Wisconsin, at which it has approximately 244 million tons of proven recoverable sand reserves and approximately 92 million tons of probable recoverable sand reserves as of December 31, 2015, respectively.

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