Keane Group Inc (FRAC) Lowered to “Buy” at BidaskClub
Keane Group Inc (NASDAQ:FRAC) was downgraded by equities research analysts at BidaskClub from a “strong-buy” rating to a “buy” rating in a research note issued to investors on Wednesday.
Several other analysts also recently issued reports on FRAC. Citigroup Inc. downgraded shares of Keane Group from a “buy” rating to a “neutral” rating and reduced their price target for the company from $19.00 to $14.00 in a research report on Wednesday, August 30th. Morgan Stanley reissued an “overweight” rating and issued a $22.00 price target (down previously from $25.00) on shares of Keane Group in a research report on Wednesday, June 21st. Piper Jaffray Companies reissued a “buy” rating and issued a $16.15 price target (down previously from $17.00) on shares of Keane Group in a research report on Wednesday, July 12th. J P Morgan Chase & Co lifted their price target 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, Capital One Financial Corporation reissued an “overweight” rating on shares of Keane Group in a research report on Thursday, July 27th. One investment analyst has rated the stock with a sell rating, eight have assigned a hold rating and twelve have given a buy rating to the stock. The stock currently has a consensus rating of “Buy” and a consensus price target of $20.74.
Keane Group (NASDAQ:FRAC) traded down 2.33% on Wednesday, hitting $15.49. 1,392,764 shares of the stock traded hands. Keane Group has a 1-year low of $12.42 and a 1-year high of $22.93. The stock has a 50-day moving average price of $15.15 and a 200 day moving average price of $14.86. The company’s market cap is $1.73 billion.
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 the consensus estimate of ($0.07) by $0.06. The company 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 company’s quarterly revenue was up 34.5% compared to the same quarter last year. On average, analysts anticipate that Keane Group will post $0.09 EPS for the current fiscal year.
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A number of institutional investors and hedge funds have recently bought and sold shares of FRAC. Nationwide Fund Advisors purchased a new position in Keane Group during the 1st quarter worth $119,000. Legal & General Group Plc boosted its holdings in Keane Group by 64.2% during the 2nd quarter. Legal & General Group Plc now owns 7,638 shares of the company’s stock worth $120,000 after acquiring an additional 2,985 shares during the last quarter. Parametric Portfolio Associates LLC purchased a new position in Keane Group during the 2nd quarter worth $179,000. First Mercantile Trust Co. boosted its holdings in Keane Group by 35.6% during the 2nd quarter. First Mercantile Trust Co. now owns 12,644 shares of the company’s stock worth $202,000 after acquiring an additional 3,319 shares during the last quarter. Finally, Jane Street Group LLC purchased a new position in Keane Group during the 1st quarter worth $212,000.
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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