Oppenheimer Maintains Their Buy Rating on Solaris Oilfield Infrastructure Inc (SOI)

In a report released yesterday, Scott Schneeberger from Oppenheimer maintained a Buy rating on Solaris Oilfield Infrastructure Inc (SOI), with a price target of $23. The company’s shares closed on Friday at $14.59, close to its 52-week low of $12.88.

Schneeberger noted:

“3Q18 revenue/adjusted EBITDA/EPS all exceeded consensus/grew triple-digits y/ y. Solaris ended 3Q18 with 146 mobile proppant management systems (MPMS) vs. 122 at 6/30/18 (+20% q/q). With 152 MPMS units currently on rent, 160-162 units are now anticipated at 2018-end, which compares to 160-170 previously considering less certain industry conditions. However, SOI favorably projects three mobile chemical management systems (MCMS) in the fleet by year-end. We’re encouraged by SOI’s logical MCMS rental opportunity, but conservatively aren’t yet including MCMS financial contribution in future periods. Considering the less certain industry environment, we’re moderating 2018E/2019E-end MPMS units on rent to 160 (+108% y/y; from 165)/175 (+9% y/y; from 201), respectively. Correspondingly, our 2019E adjusted EBITDA/target modify to $168M (from $189M)/$23 (from $26), respectively.”

According to TipRanks.com, Schneeberger is a 5-star analyst with an average return of 10.2% and a 64.4% success rate. Schneeberger covers the Services sector, focusing on stocks such as Service Corp International, General Finance, and XPO Logistics.

The word on The Street in general, suggests a Strong Buy analyst consensus rating for Solaris Oilfield Infrastructure Inc with a $21 average price target.

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Based on Solaris Oilfield Infrastructure Inc’s latest earnings release for the quarter ending September 30, the company reported a quarterly net profit of $12.77 million. In comparison, last year the company had a net profit of $1.28 million.

Based on the recent corporate insider activity of 51 insiders, corporate insider sentiment is negative on the stock.

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Solaris Oilfield Infrastructure, Inc. is a holding company, which engages in the manufacture of patented mobile proppant management systems that unload, store, and deliver proppant at oil and natural gas well sites.

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