Zacks Investment Research upgraded shares of Keane Group (NYSE:FRAC) from a hold rating to a buy rating in a research note issued to investors on Monday. The firm currently has $21.00 price objective on the stock.
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. “
A number of other research analysts have also commented on FRAC. JPMorgan Chase & Co. upped their target price on Keane Group from $22.00 to $23.00 and gave the company an overweight rating in a research note on Tuesday, September 12th. BidaskClub upgraded Keane Group from a sell rating to a hold rating in a research note on Saturday, September 16th. Piper Jaffray Companies reiterated a buy rating and set a $18.00 price objective on shares of Keane Group in a research note on Tuesday, September 19th. Jefferies Group initiated coverage on Keane Group in a research note on Thursday, October 5th. They set a buy rating and a $20.00 price objective for the company. Finally, Citigroup set a $18.00 price objective on Keane Group and gave the stock a hold rating in a research note on Thursday, October 5th. Ten research analysts have rated the stock with a hold rating and twelve have given a buy rating to the company. The company presently has a consensus rating of Buy and a consensus target price of $21.20.
Shares of Keane Group (NYSE:FRAC) traded down $0.47 during midday trading on Monday, hitting $19.03. The company had a trading volume of 956,112 shares, compared to its average volume of 1,058,244. The company has a quick ratio of 1.26, a current ratio of 1.41 and a debt-to-equity ratio of 0.60. The firm has a market capitalization of $2,160.00 and a price-to-earnings ratio of -15.60. Keane Group has a twelve month low of $12.42 and a twelve month high of $22.93.
Keane Group (NYSE:FRAC) last issued its earnings results on Wednesday, November 1st. The company reported $0.04 EPS for the quarter, missing analysts’ consensus estimates of $0.16 by ($0.12). The firm had revenue of $477.30 million during the quarter, compared to analyst estimates of $493.40 million. Keane Group had a negative net margin of 9.90% and a negative return on equity of 19.19%. The business’s revenue for the quarter was up 47.7% compared to the same quarter last year. equities analysts anticipate that Keane Group will post 0.1 EPS for the current year.
Hedge funds have recently made changes to their positions in the company. Legal & General Group Plc grew its holdings in shares of Keane Group by 64.2% during the second quarter. Legal & General Group Plc now owns 7,638 shares of the company’s stock worth $120,000 after purchasing an additional 2,985 shares during the last quarter. Quantbot Technologies LP bought a new stake in shares of Keane Group during the third quarter worth $121,000. Boothbay Fund Management LLC bought a new stake in shares of Keane Group during the third quarter worth $173,000. Parametric Portfolio Associates LLC bought a new stake in shares of Keane Group during the second quarter worth $179,000. Finally, Advisors Asset Management Inc. grew its holdings in shares of Keane Group by 566.6% during the third quarter. Advisors Asset Management Inc. now owns 10,972 shares of the company’s stock worth $183,000 after purchasing an additional 9,326 shares during the last quarter. Institutional investors own 38.30% of the company’s stock.
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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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