Jefferies Downgrades U.S. Silica Holdings (SLCA) to Hold

February 4, 2014 7:38 AM EST
Get Alerts SLCA Hot Sheet
Price: $57.49 --0%

Rating Summary:
    18 Buy, 6 Hold, 1 Sell

Rating Trend: = Flat

Today's Overall Ratings:
    Up: 28 | Down: 28 | New: 23
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Jefferies downgraded U.S. Silica Holdings (NYSE: SLCA) from Buy to Hold with a price target of $31.00 (from $41.00).

"It disappoints us to conclude that frac sand demand potential cannot offset execution concerns," analhyst Brad Handler comments. "Acknowledging that guidance was intended to be conservative, we find troubling: (1) lack of progress in managing logistics costs, (2) implied lower-than-expected volumes of higher-grade sand and (3) apparent lack of competitive advantage."

The firm lowers '14E/'15E EPS to $1.85/$2.30 from $2.35/$3.00

For an analyst ratings summary and ratings history on U.S. Silica Holdings click here. For more ratings news on U.S. Silica Holdings click here.

Shares of U.S. Silica Holdings closed at $27.55 yesterday.

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