Zacks Investment Research Upgrades Keane Group Inc (FRAC) to Buy
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 firm currently has a $19.00 price objective on the stock. Zacks Investment Research‘s price target indicates a potential upside of 11.70% from the stock’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. “
A number of other analysts have also weighed in on FRAC. Morgan Stanley restated an “overweight” rating and set a $22.00 price objective (down from $25.00) on shares of Keane Group in a research note on Wednesday, June 21st. Iberia Capital initiated coverage on shares of Keane Group in a research note on Friday, June 23rd. They set an “outperform” rating and a $19.00 price objective for the company. Piper Jaffray Companies restated a “buy” rating and set a $16.15 price objective (down from $17.00) on shares of Keane Group in a research note on Wednesday, July 12th. Capital One Financial Corporation restated an “overweight” rating on shares of Keane Group in a research note on Thursday, July 27th. Finally, Scotiabank set a $21.00 price objective on shares of Keane Group and gave the company a “hold” rating in a research note on Tuesday, August 1st. Eight investment analysts have rated the stock with a hold rating, ten have given a buy rating and one has assigned a strong buy rating to the stock. The company currently has an average rating of “Buy” and an average target price of $20.82.
Shares of Keane Group (NASDAQ FRAC) traded down 0.12% during midday trading on Wednesday, reaching $17.01. 748,268 shares of the company’s stock were exchanged. The stock’s market capitalization is $1.90 billion. Keane Group has a 12-month low of $12.70 and a 12-month high of $22.93. The firm has a 50-day moving average of $15.41 and a 200-day moving average 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 for the quarter, beating analysts’ consensus estimates of ($0.07) by $0.06. The business had revenue of $323.10 million during the quarter, compared to analyst estimates of $316.71 million. Keane Group had a negative net margin of 3.68% and a negative return on equity of 14.38%. The firm’s quarterly revenue was up 34.5% on a year-over-year basis. Analysts anticipate that Keane Group will post $0.07 EPS for the current fiscal year.
Several hedge funds have recently made changes to their positions in FRAC. Janus Henderson Group PLC grew its stake in shares of Keane Group by 4,762.9% in the second 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. bought a new stake in Keane Group during the first quarter valued at approximately $31,906,000. Omega Advisors Inc. bought a new stake in Keane Group during the first quarter valued at approximately $31,293,000. Point72 Asset Management L.P. bought a new stake in Keane Group during the first quarter valued at approximately $26,731,000. Finally, TimesSquare Capital Management LLC bought a new stake in Keane Group during the first quarter valued at approximately $22,338,000.
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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