Franks International (NYSE:FI) was upgraded by Zacks Investment Research from a “sell” rating to a “hold” rating in a research report issued on Monday.
According to Zacks, “Frank’s International N.V. is a provider of engineered tubular services to the oil and gas industry. Its tubular services include the handling and installation of multiple joints of pipe to establish a cased wellbore; and the installation of smaller diameter pipe inside a cased wellbore to provide a conduit for produced oil and gas to reach the surface. The Company provides its services to exploration and production companies in both offshore and onshore environments, with a focus on complex and technically demanding wells. Frank’s International N.V. is based in Amsterdam, the Netherlands. “
A number of other research firms also recently weighed in on FI. Jefferies Group set a $7.00 price target on Franks International and gave the company a “hold” rating in a research note on Thursday, January 4th. ValuEngine downgraded Franks International from a “sell” rating to a “strong sell” rating in a research note on Friday, February 2nd. Royal Bank of Canada set a $7.00 price target on Franks International and gave the company a “buy” rating in a research note on Thursday, December 21st. Wolfe Research upgraded Franks International from an “underperform” rating to a “market perform” rating in a research note on Wednesday, March 7th. Finally, Piper Jaffray Companies set a $5.00 target price on Franks International and gave the stock a “hold” rating in a research note on Tuesday, March 6th. Five analysts have rated the stock with a sell rating, ten have issued a hold rating and one has given a buy rating to the company’s stock. The company presently has an average rating of “Hold” and a consensus price target of $7.56.
Franks International (NYSE:FI) last posted its quarterly earnings results on Tuesday, February 27th. The pipeline company reported ($0.26) earnings per share for the quarter, missing the Zacks’ consensus estimate of ($0.11) by ($0.15). The company had revenue of $118.32 million during the quarter, compared to the consensus estimate of $115.92 million. Franks International had a negative net margin of 72.13% and a negative return on equity of 29.26%. The firm’s revenue for the quarter was up 9.6% compared to the same quarter last year. During the same quarter in the prior year, the business earned ($0.18) earnings per share. sell-side analysts predict that Franks International will post -0.4 earnings per share for the current fiscal year.
In related news, major shareholder Michael Frank Mosing sold 200,000 shares of Franks International stock in a transaction that occurred on Friday, March 2nd. The stock was sold at an average price of $5.16, for a total transaction of $1,032,000.00. Following the completion of the sale, the insider now directly owns 803,735 shares of the company’s stock, valued at approximately $4,147,272.60. The transaction was disclosed in a legal filing with the SEC, which is accessible through the SEC website. Also, major shareholder William Bradford Mosing sold 210,000 shares of Franks International stock in a transaction that occurred on Monday, December 18th. The stock was sold at an average price of $5.92, for a total value of $1,243,200.00. Following the sale, the insider now directly owns 180,426 shares of the company’s stock, valued at $1,068,121.92. The disclosure for this sale can be found here. Insiders have sold a total of 1,400,135 shares of company stock valued at $8,230,684 over the last quarter. 77.90% of the stock is currently owned by corporate insiders.
A number of large investors have recently added to or reduced their stakes in FI. Hotchkis & Wiley Capital Management LLC lifted its holdings in Franks International by 207.4% during the 3rd quarter. Hotchkis & Wiley Capital Management LLC now owns 9,096,428 shares of the pipeline company’s stock worth $70,224,000 after purchasing an additional 6,137,315 shares during the last quarter. Eaton Vance Management acquired a new position in Franks International in the 4th quarter valued at $10,012,000. Wells Fargo & Company MN raised its holdings in Franks International by 392.8% in the 4th quarter. Wells Fargo & Company MN now owns 1,042,034 shares of the pipeline company’s stock valued at $6,930,000 after acquiring an additional 830,592 shares in the last quarter. Barrow Hanley Mewhinney & Strauss LLC raised its holdings in Franks International by 271.0% in the 4th quarter. Barrow Hanley Mewhinney & Strauss LLC now owns 621,247 shares of the pipeline company’s stock valued at $4,132,000 after acquiring an additional 453,802 shares in the last quarter. Finally, BlackRock Inc. raised its holdings in Franks International by 10.2% in the 4th quarter. BlackRock Inc. now owns 4,611,897 shares of the pipeline company’s stock valued at $30,669,000 after acquiring an additional 426,376 shares in the last quarter. 33.20% of the stock is owned by institutional investors and hedge funds.
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About Franks International
Frank’s International N.V. (FINV) is a provider of engineered tubular services, tubular fabrication and specialty well construction and well intervention solutions to the oil and gas industry. The Company operates through four business segments: International Services, U. S. Services, Tubular Sales and Blackhawk.
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