Cowen Downgrades FTS International (NYSE:FTSI) to Market Perform

FTS International (NYSE:FTSI) was downgraded by Cowen from an “outperform” rating to a “market perform” rating in a research report issued on Thursday, The Fly reports.

A number of other research firms also recently commented on FTSI. Capital One Financial downgraded shares of FTS International from an “overweight” rating to an “equal weight” rating in a report on Monday, August 5th. Citigroup downgraded shares of FTS International from a “buy” rating to a “neutral” rating and reduced their price objective for the stock from $8.00 to $6.00 in a report on Tuesday, July 2nd. Wells Fargo & Co reaffirmed a “hold” rating on shares of FTS International in a report on Thursday, June 27th. Piper Jaffray Companies downgraded shares of FTS International from an “overweight” rating to a “neutral” rating and reduced their price objective for the stock from $9.25 to $6.00 in a report on Tuesday, June 25th. Finally, Zacks Investment Research downgraded shares of FTS International from a “hold” rating to a “sell” rating in a report on Wednesday, July 3rd. Two investment analysts have rated the stock with a sell rating, nine have issued a hold rating and one has assigned a buy rating to the company’s stock. FTS International currently has a consensus rating of “Hold” and an average target price of $8.25.

NYSE:FTSI opened at $3.49 on Thursday. The company has a 50-day moving average of $3.09 and a 200-day moving average of $6.90. The company has a market capitalization of $380.53 million, a price-to-earnings ratio of 1.48, a PEG ratio of 3.64 and a beta of 1.71. FTS International has a 52 week low of $2.32 and a 52 week high of $13.65. The company has a debt-to-equity ratio of 8.49, a quick ratio of 2.49 and a current ratio of 2.95.

FTS International (NYSE:FTSI) last released its quarterly earnings data on Tuesday, July 30th. The company reported $0.05 EPS for the quarter, missing analysts’ consensus estimates of $0.10 by ($0.05). The business had revenue of $225.80 million for the quarter, compared to the consensus estimate of $236.09 million. FTS International had a return on equity of 130.74% and a net margin of 2.62%. FTS International’s revenue was down 54.2% on a year-over-year basis. During the same period in the previous year, the business posted $0.95 earnings per share. Sell-side analysts forecast that FTS International will post 0.14 EPS for the current year.

A number of hedge funds have recently made changes to their positions in the stock. Aperio Group LLC acquired a new stake in FTS International in the 2nd quarter valued at about $52,000. Capital Fund Management S.A. acquired a new stake in FTS International in the 2nd quarter valued at about $64,000. BNP Paribas Arbitrage SA increased its position in FTS International by 262.8% in the 1st quarter. BNP Paribas Arbitrage SA now owns 7,459 shares of the company’s stock valued at $75,000 after acquiring an additional 5,403 shares in the last quarter. Cubist Systematic Strategies LLC acquired a new stake in FTS International in the 2nd quarter valued at about $93,000. Finally, SG Americas Securities LLC acquired a new stake in FTS International in the 1st quarter valued at about $101,000. 63.15% of the stock is owned by hedge funds and other institutional investors.

FTS International Company Profile

FTS International, Inc provides hydraulic fracturing services in North America. Its services enhance hydrocarbon flow from oil and natural gas wells drilled by exploration and production companies (E&P), in shale and other unconventional resource formations. The company's wireline services primarily consist of setting plugs between hydraulic fracturing stages, creating perforations within hydraulic fracturing stages, and logging the characteristics of resource formations.

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