Solaris Oilfield Infrastructure (SOI) Downgraded to “Strong Sell” at Zacks Investment Research

Zacks Investment Research cut shares of Solaris Oilfield Infrastructure (NYSE:SOI) from a hold rating to a strong sell rating in a report published on Wednesday morning.

According to Zacks, “Solaris Oilfield Infrastructure, Inc. manufactures and provides patented mobile proppant management systems which unload, store and deliver proppant at oil and natural gas well sites and its systems are deployed in many of the most active oil and natural gas basins in the United States, including the Permian Basin, the Eagle Ford Shale and the SCOOP/STACK formation. Solaris Oilfield Infrastructure, Inc. is based in Houston, United States. “

Several other equities analysts have also recently commented on the stock. ValuEngine cut shares of Solaris Oilfield Infrastructure from a hold rating to a sell rating in a research report on Monday, October 22nd. Piper Jaffray Companies set a $22.00 price target on shares of Solaris Oilfield Infrastructure and gave the stock a buy rating in a research report on Wednesday, October 3rd. Stifel Nicolaus assumed coverage on shares of Solaris Oilfield Infrastructure in a research report on Monday, September 10th. They set a buy rating and a $20.00 price target on the stock. Finally, Seaport Global Securities reaffirmed a buy rating on shares of Solaris Oilfield Infrastructure in a research report on Monday, August 6th. Two equities research analysts have rated the stock with a sell rating and five have issued a buy rating to the company’s stock. The stock currently has a consensus rating of Hold and an average price target of $22.60.

Shares of SOI stock traded down $0.20 during trading hours on Wednesday, hitting $14.72. 16,925 shares of the company were exchanged, compared to its average volume of 548,460. The company has a debt-to-equity ratio of 0.21, a quick ratio of 2.02 and a current ratio of 2.40. Solaris Oilfield Infrastructure has a one year low of $12.88 and a one year high of $23.98. The stock has a market capitalization of $690.06 million, a price-to-earnings ratio of 30.65 and a beta of 1.98.

Solaris Oilfield Infrastructure (NYSE:SOI) last issued its quarterly earnings results on Wednesday, October 31st. The company reported $0.51 EPS for the quarter, topping the consensus estimate of $0.49 by $0.02. Solaris Oilfield Infrastructure had a net margin of 19.18% and a return on equity of 25.81%. The business had revenue of $56.70 million for the quarter, compared to analysts’ expectations of $56.23 million. During the same quarter last year, the company posted $0.12 earnings per share. The company’s quarterly revenue was up 206.5% compared to the same quarter last year. As a group, research analysts forecast that Solaris Oilfield Infrastructure will post 1.69 EPS for the current year.

In related news, Director James R. Burke sold 7,170 shares of the stock in a transaction dated Wednesday, September 12th. The shares were sold at an average price of $16.67, for a total transaction of $119,523.90. The transaction was disclosed in a document filed with the SEC, which is available at the SEC website. 14.44% of the stock is owned by corporate insiders.

A number of institutional investors and hedge funds have recently added to or reduced their stakes in SOI. Northern Trust Corp raised its stake in Solaris Oilfield Infrastructure by 5.1% during the first quarter. Northern Trust Corp now owns 233,112 shares of the company’s stock worth $3,860,000 after acquiring an additional 11,308 shares during the period. BlackRock Inc. increased its stake in shares of Solaris Oilfield Infrastructure by 32.8% in the first quarter. BlackRock Inc. now owns 1,177,055 shares of the company’s stock valued at $19,492,000 after purchasing an additional 290,696 shares during the period. UBS Group AG increased its stake in shares of Solaris Oilfield Infrastructure by 622.6% in the first quarter. UBS Group AG now owns 25,480 shares of the company’s stock valued at $422,000 after purchasing an additional 21,954 shares during the period. Millennium Management LLC increased its stake in shares of Solaris Oilfield Infrastructure by 296.2% in the first quarter. Millennium Management LLC now owns 241,284 shares of the company’s stock valued at $3,996,000 after purchasing an additional 180,387 shares during the period. Finally, Fred Alger Management Inc. increased its stake in shares of Solaris Oilfield Infrastructure by 166.8% in the second quarter. Fred Alger Management Inc. now owns 2,217,243 shares of the company’s stock valued at $31,684,000 after purchasing an additional 1,386,252 shares during the period. Hedge funds and other institutional investors own 77.29% of the company’s stock.

Solaris Oilfield Infrastructure Company Profile

Solaris Oilfield Infrastructure, Inc manufactures and sells patented mobile proppant management systems to unload, store, and deliver proppant at oil and natural gas well sites in the United States. The company's systems are designed for transferring large quantities of proppant to the well sites.

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