In a report released today, Scott Schneeberger from Oppenheimer maintained a Buy rating on Solaris Oilfield Infrastructure Inc (NYSE: SOI), with a price target of $26. The company’s shares closed on Friday at $16.74.
Schneeberger said:
“2Q18 outperformed top to bottom as revenue, adjusted EBITDA and adjusted EPS all exceeded consensus and grew triple-digits y/y. Solaris ended 2Q18 with 122 units in its rental fleet, up from 98 at 3/31/18 (+24% q/q). It currently has 130 units on rent and honed its previously announced 3Q18-end guidance from 142-146 to 144-146. Furthermore, it expects 160-170 units by 4Q18-end. This prompts an increase to our 2018E/2019E adjusted EBITDA to $127M (+216% y/y; from $122M)/$189M (+50% y/y; from $183M), respectively. SCOOP/STACK transload facility, the first phase of construction has been completed within a year of announcement on time/on budget. In addition to providing transloading activity for its anchor customer, it has also serviced four additional customers. We’re reiterating our Outperform rating/ $26 target.”
According to TipRanks.com, Schneeberger is a 5-star analyst with an average return of 12.0% and a 68.8% success rate. Schneeberger covers the Services sector, focusing on stocks such as Service Corp International, Landstar System Inc, and General Finance.
Currently, the analyst consensus on Solaris Oilfield Infrastructure Inc is a Moderate Buy with an average price target of $23.25.
See today’s analyst top recommended stocks >>
Based on the recent corporate insider activity of 39 insiders, corporate insider sentiment is positive on the stock. This means that over the past quarter there has been an increase of insiders buying their shares of SOI in relation to earlier this year.
TipRanks has tracked 36,000 company insiders and found that a few of them are better than others when it comes to timing their transactions. See which 3 stocks are most likely to make moves following their insider activities.
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.
