Keane Group Inc (FRAC) Upgraded at Zacks Investment Research
Keane Group Inc (NASDAQ:FRAC) was upgraded by Zacks Investment Research from a “hold” rating to a “buy” rating in a report released on Wednesday. The brokerage currently has a $19.00 target price on the stock. Zacks Investment Research‘s target price points to a potential upside of 11.70% from the company’s previous close.
According to Zacks, “Keane Group, Inc. is a provider of integrated well completion services primarily in the U.S. It focuses on complex, technically demanding completion solutions. The company primary service offerings include horizontal and vertical fracturing, wireline perforation and logging and engineered solutions as well as other value-added service offerings. Keane Group, Inc. is headquartered in Houston, Texas. “
Several other brokerages have also recently commented on FRAC. Citigroup Inc. cut shares of Keane Group from a “buy” rating to a “neutral” rating and dropped their target price for the company from $19.00 to $14.00 in a research report on Wednesday, August 30th. Capital One Financial Corporation reiterated an “overweight” rating on shares of Keane Group in a research report on Thursday, July 27th. Scotiabank set a $21.00 target price on shares of Keane Group and gave the company a “hold” rating in a research report on Tuesday, August 1st. J P Morgan Chase & Co upped their target price on shares of Keane Group from $22.00 to $23.00 and gave the company an “overweight” rating in a research report on Tuesday, September 12th. Finally, Piper Jaffray Companies reiterated a “buy” rating and set a $18.00 target price on shares of Keane Group in a research report on Tuesday, September 19th. Eight equities research analysts have rated the stock with a hold rating, ten have given a buy rating and one has issued a strong buy rating to the company. The stock currently has a consensus rating of “Buy” and an average price target of $20.82.
Keane Group (NASDAQ:FRAC) traded down 0.12% on Wednesday, reaching $17.01. The company’s stock had a trading volume of 748,268 shares. The firm’s market capitalization is $1.90 billion. Keane Group has a 52 week low of $12.70 and a 52 week high of $22.93. The stock’s 50 day moving average is $15.32 and its 200-day moving average is $15.32.
Keane Group (NASDAQ:FRAC) last issued its earnings results on Monday, July 31st. The company reported ($0.01) EPS for the quarter, beating the consensus estimate of ($0.07) by $0.06. The company had revenue of $323.10 million during the quarter, compared to analysts’ expectations of $316.71 million. Keane Group had a negative net margin of 3.68% and a negative return on equity of 14.38%. The business’s revenue was up 34.5% compared to the same quarter last year. Analysts predict that Keane Group will post $0.07 EPS for the current year.
Several institutional investors and hedge funds have recently added to or reduced their stakes in FRAC. Nationwide Fund Advisors bought a new stake in shares of Keane Group in the 1st quarter valued at $119,000. Strs Ohio bought a new stake in shares of Keane Group in the 1st quarter valued at $131,000. Russell Investments Group Ltd. bought a new stake in shares of Keane Group in the 1st quarter valued at $759,000. Wells Fargo & Company MN bought a new stake in shares of Keane Group in the 1st quarter valued at $1,542,000. Finally, Bank of New York Mellon Corp bought a new stake in shares of Keane Group in the 1st quarter valued at $1,549,000.
Keane Group Company Profile
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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