Keane Group Inc (FRAC) Now Covered by Jefferies Group LLC
Equities research analysts at Jefferies Group LLC assumed coverage on shares of Keane Group Inc (NASDAQ:FRAC) in a report issued on Thursday, Marketbeat Ratings reports. The brokerage set a “buy” rating and a $20.00 price target on the stock. Jefferies Group LLC’s target price indicates a potential upside of 16.35% from the company’s current price.
A number of other research analysts also recently issued reports on the company. Citigroup Inc. downgraded Keane Group from a “buy” rating to a “neutral” rating and lowered their price target for the company from $19.00 to $14.00 in a report on Wednesday, August 30th. Morgan Stanley reissued an “overweight” rating and issued a $22.00 target price (down previously from $25.00) on shares of Keane Group in a report on Wednesday, June 21st. Piper Jaffray Companies reissued a “buy” rating and issued a $16.15 target price (down previously from $17.00) on shares of Keane Group in a report on Wednesday, July 12th. Capital One Financial Corporation reissued an “overweight” rating on shares of Keane Group in a report on Thursday, July 27th. Finally, Iberia Capital began coverage on Keane Group in a report on Friday, June 23rd. They issued an “outperform” rating and a $19.00 target price on the stock. Eight investment analysts have rated the stock with a hold rating, eleven have assigned a buy rating and one has given a strong buy rating to the stock. Keane Group has an average rating of “Buy” and a consensus target price of $21.00.
Keane Group (FRAC) traded up 1.06% during midday trading on Thursday, hitting $17.19. The stock had a trading volume of 1,276,731 shares. The firm’s market cap is $1.92 billion. Keane Group has a 52 week low of $12.70 and a 52 week high of $22.93. The firm has a 50 day moving average of $15.51 and a 200 day moving average of $15.51.
Keane Group (NASDAQ:FRAC) last announced its quarterly earnings results on Monday, July 31st. The company reported ($0.01) earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of ($0.07) by $0.06. The firm had revenue of $323.10 million for the quarter, compared to the consensus estimate of $316.71 million. Keane Group had a negative return on equity of 14.38% and a negative net margin of 3.68%. The firm’s revenue was up 34.5% on a year-over-year basis. Equities research analysts predict that Keane Group will post $0.10 EPS for the current year.
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Several hedge funds and other institutional investors have recently bought and sold shares of FRAC. Janus Henderson Group PLC raised 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 buying an additional 4,162,694 shares during the period. Vanguard Group Inc. bought a new position in shares of Keane Group in the first quarter worth about $31,906,000. Omega Advisors Inc. bought a new position in shares of Keane Group in the first quarter worth about $31,293,000. Point72 Asset Management L.P. bought a new position in shares of Keane Group in the first quarter worth about $26,731,000. Finally, TimesSquare Capital Management LLC bought a new position in shares of Keane Group in the first quarter worth about $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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