Smart Sand (NASDAQ:SND) Lifted to “Buy” at Zacks Investment Research

Zacks Investment Research upgraded shares of Smart Sand (NASDAQ:SND) from a hold rating to a buy rating in a research note published on Friday, Zacks.com reports. They currently have $2.75 price objective on the stock.

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. “

A number of other research analysts have also weighed in on SND. B. Riley upgraded shares of Smart Sand from a neutral rating to a buy rating and lifted their price objective for the company from $4.50 to $5.00 in a research note on Wednesday, July 17th. Evercore ISI set a $5.00 price objective on shares of Smart Sand and gave the company a hold rating in a research note on Wednesday, August 7th. Finally, Piper Jaffray Companies set a $4.00 price objective on shares of Smart Sand and gave the company a hold rating in a research note on Wednesday, May 8th. Three analysts have rated the stock with a sell rating, three have given a hold rating and three have given a buy rating to the company. The company currently has a consensus rating of Hold and a consensus price target of $3.97.

Smart Sand stock opened at $2.56 on Friday. Smart Sand has a 1-year low of $1.92 and a 1-year high of $5.56. The firm has a market capitalization of $99.99 million, a price-to-earnings ratio of 3.16 and a beta of 2.25. The company has a current ratio of 0.91, a quick ratio of 0.75 and a debt-to-equity ratio of 0.11. The firm has a 50 day simple moving average of $2.35 and a 200 day simple moving average of $3.17.

Smart Sand (NASDAQ:SND) last released its quarterly earnings data on Wednesday, August 7th. The company reported $0.36 earnings per share for the quarter, beating analysts’ consensus estimates of $0.15 by $0.21. Smart Sand had a net margin of 11.06% and a return on equity of 18.46%. The business had revenue of $67.90 million during the quarter, compared to analyst estimates of $57.03 million. During the same period in the previous year, the business earned $0.25 EPS. Smart Sand’s revenue was up 24.8% compared to the same quarter last year. On average, equities research analysts forecast that Smart Sand will post 0.77 EPS for the current year.

In other news, CEO Charles Edwin Young purchased 17,500 shares of Smart Sand stock in a transaction dated Thursday, June 13th. The stock was purchased at an average cost of $2.86 per share, for a total transaction of $50,050.00. Following the transaction, the chief executive officer now directly owns 267,401 shares of the company’s stock, valued at $764,766.86. The purchase was disclosed in a document filed with the SEC, which is available at the SEC website. 47.80% of the stock is owned by insiders.

Several institutional investors and hedge funds have recently added to or reduced their stakes in the company. D. E. Shaw & Co. Inc. purchased a new stake in Smart Sand in the second quarter worth about $243,000. AQR Capital Management LLC grew its holdings in Smart Sand by 83.1% in the second quarter. AQR Capital Management LLC now owns 136,471 shares of the company’s stock worth $333,000 after purchasing an additional 61,941 shares during the period. Vanguard Group Inc. grew its holdings in Smart Sand by 44.9% in the second quarter. Vanguard Group Inc. now owns 1,350,913 shares of the company’s stock worth $3,296,000 after purchasing an additional 418,800 shares during the period. A.R.T. Advisors LLC grew its holdings in Smart Sand by 29.0% in the second quarter. A.R.T. Advisors LLC now owns 46,033 shares of the company’s stock worth $112,000 after purchasing an additional 10,353 shares during the period. Finally, Sprott Inc. grew its holdings in Smart Sand by 20.0% in the second quarter. Sprott Inc. now owns 600,000 shares of the company’s stock worth $1,464,000 after purchasing an additional 100,000 shares during the period. Hedge funds and other institutional investors own 33.84% of the company’s stock.

About Smart Sand

Smart Sand, Inc engages in the excavation, processing, and sale of industrial sands for use in hydraulic fracturing operations in the oil and gas industry in the United States. The company sells its products primarily to oil and natural gas exploration and production companies, and oilfield service companies.

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