Keane Group Inc (FRAC) Coverage Initiated at Jefferies Group LLC
Jefferies Group LLC initiated coverage on shares of Keane Group Inc (NASDAQ:FRAC) in a research note issued on Thursday. The firm set a “buy” rating on the stock.
Several other equities research analysts have also issued reports on the stock. Zacks Investment Research raised shares of Keane Group from a “hold” rating to a “buy” rating and set a $19.00 price objective for the company in a research note on Wednesday. BidaskClub raised shares of Keane Group from a “buy” rating to a “strong-buy” rating in a research note on Saturday, September 30th. Piper Jaffray Companies reaffirmed a “buy” rating and issued a $18.00 price objective on shares of Keane Group in a research note on Tuesday, September 19th. J P Morgan Chase & Co lifted their price objective on shares of Keane Group from $22.00 to $23.00 and gave the company an “overweight” rating in a research note on Tuesday, September 12th. Finally, Citigroup Inc. lowered shares of Keane Group from a “buy” rating to a “neutral” rating and reduced their price objective for the company from $19.00 to $14.00 in a research note on Wednesday, August 30th. Eight investment analysts have rated the stock with a hold rating, eleven have issued a buy rating and one has assigned a strong buy rating to the company. The stock presently has a consensus rating of “Buy” and a consensus price target of $20.82.
Shares of Keane Group (FRAC) opened at 17.01 on Thursday. Keane Group has a one year low of $12.70 and a one year high of $22.93. The firm’s market capitalization is $1.90 billion. The company has a 50-day moving average price of $15.41 and a 200 day moving average price of $15.41.
Keane Group (NASDAQ:FRAC) last released its quarterly earnings data on Monday, July 31st. The company reported ($0.01) earnings per share (EPS) for the quarter, beating the consensus estimate of ($0.07) by $0.06. Keane Group had a negative net margin of 3.68% and a negative return on equity of 14.38%. The business had revenue of $323.10 million during the quarter, compared to analyst estimates of $316.71 million. The business’s revenue was up 34.5% on a year-over-year basis. Analysts expect that Keane Group will post $0.07 earnings per share for the current fiscal year.
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A number of institutional investors and hedge funds have recently made changes to their positions in the stock. Janus Henderson Group PLC raised its holdings in Keane Group by 4,762.9% in the 2nd quarter. Janus Henderson Group PLC now owns 4,250,092 shares of the company’s stock worth $68,001,000 after acquiring an additional 4,162,694 shares during the period. Vanguard Group Inc. raised its holdings in Keane Group by 10.3% in the 2nd quarter. Vanguard Group Inc. now owns 2,461,921 shares of the company’s stock worth $39,391,000 after acquiring an additional 230,738 shares during the period. Omega Advisors Inc. bought a new position in Keane Group in the 1st quarter worth $31,293,000. Ameriprise Financial Inc. raised its holdings in Keane Group by 5.5% in the 2nd quarter. Ameriprise Financial Inc. now owns 2,103,945 shares of the company’s stock worth $33,662,000 after acquiring an additional 109,364 shares during the period. Finally, Point72 Asset Management L.P. bought a new position in Keane Group in the 1st quarter worth $26,731,000.
About Keane Group
Keane Group, Inc is provider of integrated well completion services in the United States, with a focus on demanding completion solutions. The Company’s segments include Completion Services, which comprises hydraulic fracturing and wireline divisions, and Other Services, which consists of coiled tubing, cementing and drilling divisions.
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