In a report released yesterday, James West from Evercore ISI maintained a Hold rating on Smart Sand Inc (SND), with a price target of $5. The company’s shares opened today at $2.38, close to its 52-week low of $1.92.
West wrote:
“We believe Smart Sand’s 2Q19 earnings release has slightly positive implications for the stock. The company reported strong headline beats across the revenue, EBITDA and EPS lines; however, the beat was driven by contractual shortfalls that are largely subject to litigation ($14.5M of $16.3M). Shortfall revenue increased by more than $10M Q-Q and accounted for most of the $13.5/$11M revenue beat over ours/consensus estimates. The Adjusted EBITDA of $26M beat ours/consensus $12/$14M estimates and the company’s $13-17M guidance range. Operationally, volumes sold of 741 KT increased 14% Q-Q and was within the 700-800 KT guidance range as the company highlighted it ramped up the utilization of their last-mile SmartSystems during the quarter.”
According to TipRanks.com, West is ranked #5042 out of 5229 analysts.
The word on The Street in general, suggests a Moderate Buy analyst consensus rating for Smart Sand Inc with a $5.33 average price target.
See today’s analyst top recommended stocks >>
The company has a one-year high of $6.19 and a one-year low of $1.92. Currently, Smart Sand Inc has an average volume of 291K.
Based on the recent corporate insider activity of 22 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 SND 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.
Smart Sand, Inc. owns and operates a raw frac sand mine and related processing facility near Oakdale, Wisconsin. It supplies industrial sand to the oil and gas industry. The company was founded in 2011 and is headquartered in The Woodlands, TX.
