U.S. Silica (NYSE:SLCA) Downgraded to Neutral at Piper Jaffray Companies

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Piper Jaffray Companies cut shares of U.S. Silica (NYSE:SLCA) from an overweight rating to a neutral rating in a report published on Wednesday, October 30th, Briefing.com Automated Import reports. Piper Jaffray Companies currently has $5.50 price objective on the mining company’s stock, down from their previous price objective of $10.50. Piper Jaffray Companies also issued estimates for U.S. Silica’s Q4 2019 earnings at ($0.53) EPS, Q1 2020 earnings at ($0.39) EPS, Q2 2020 earnings at ($0.29) EPS, Q3 2020 earnings at ($0.23) EPS, Q4 2020 earnings at ($0.36) EPS, FY2020 earnings at ($1.26) EPS, Q1 2021 earnings at ($0.20) EPS, Q2 2021 earnings at ($0.16) EPS, Q3 2021 earnings at ($0.15) EPS and FY2021 earnings at ($0.73) EPS.

A number of other research firms have also recently weighed in on SLCA. Morgan Stanley cut their price target on U.S. Silica from $15.00 to $10.00 and set an underweight rating on the stock in a report on Monday, October 7th. Cowen cut U.S. Silica from an outperform rating to a market perform rating and cut their price target for the company from $12.00 to $8.50 in a report on Tuesday, October 1st. Barclays cut their price target on U.S. Silica from $14.00 to $11.00 and set an equal weight rating on the stock in a report on Monday, September 30th. B. Riley cut their price target on U.S. Silica from $20.00 to $15.00 and set a buy rating on the stock in a report on Tuesday, October 22nd. Finally, R. F. Lafferty cut U.S. Silica from a buy rating to a hold rating and cut their price target for the company from $14.00 to $8.00 in a report on Tuesday, September 10th. Four investment analysts have rated the stock with a sell rating, seven have assigned a hold rating and four have given a buy rating to the stock. The stock presently has an average rating of Hold and a consensus price target of $15.08.

NYSE SLCA traded up $0.17 during trading hours on Wednesday, reaching $5.64. The company’s stock had a trading volume of 1,933,860 shares, compared to its average volume of 1,877,918. The company has a current ratio of 1.69, a quick ratio of 1.21 and a debt-to-equity ratio of 1.34. The business has a 50-day simple moving average of $7.78 and a 200 day simple moving average of $10.99. U.S. Silica has a 52 week low of $4.40 and a 52 week high of $18.72. The stock has a market cap of $375.93 million, a PE ratio of 3.57 and a beta of 2.52.

U.S. Silica (NYSE:SLCA) last issued its earnings results on Tuesday, October 29th. The mining company reported ($0.17) earnings per share (EPS) for the quarter, missing the Zacks’ consensus estimate of ($0.04) by ($0.13). U.S. Silica had a positive return on equity of 2.52% and a negative net margin of 19.58%. The business had revenue of $361.81 million during the quarter, compared to the consensus estimate of $392.08 million. During the same period in the prior year, the business earned $0.44 EPS. The business’s revenue was down 14.5% on a year-over-year basis. As a group, equities analysts predict that U.S. Silica will post -0.15 EPS for the current year.

In related news, Director Charles W. Shaver acquired 10,000 shares of the stock in a transaction that occurred on Tuesday, November 5th. The shares were acquired at an average price of $5.37 per share, for a total transaction of $53,700.00. The purchase was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. 2.20% of the stock is owned by company insiders.

Institutional investors have recently bought and sold shares of the business. Nisa Investment Advisors LLC grew its position in U.S. Silica by 348.8% in the second quarter. Nisa Investment Advisors LLC now owns 1,930 shares of the mining company’s stock worth $25,000 after buying an additional 1,500 shares during the last quarter. Ladenburg Thalmann Financial Services Inc. grew its position in U.S. Silica by 81.2% during the 2nd quarter. Ladenburg Thalmann Financial Services Inc. now owns 3,235 shares of the mining company’s stock worth $41,000 after purchasing an additional 1,450 shares in the last quarter. FMR LLC grew its position in U.S. Silica by 624.3% during the 1st quarter. FMR LLC now owns 4,230 shares of the mining company’s stock worth $73,000 after purchasing an additional 3,646 shares in the last quarter. Public Employees Retirement System of Ohio grew its position in U.S. Silica by 29.0% during the 2nd quarter. Public Employees Retirement System of Ohio now owns 5,639 shares of the mining company’s stock worth $72,000 after purchasing an additional 1,269 shares in the last quarter. Finally, M&T Bank Corp purchased a new position in U.S. Silica during the 2nd quarter worth approximately $139,000. Hedge funds and other institutional investors own 98.69% of the company’s stock.

U.S. Silica Company Profile

U.S. Silica Holdings, Inc produces and sells commercial silica in the United States. The company operates through two segments, Oil & Gas Proppants and Industrial & Specialty Products. It offers whole grain commercial silica products to be used as fracturing sand in connection with oil and natural gas recovery, as well as sells its whole grain silica products in various size distributions, grain shapes, and chemical purity levels for manufacturing glass products.

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