Ranger Energy Services (NYSE:RNGR) had its target price reduced by equities researchers at Wells Fargo & Co from $10.00 to $9.00 in a research note issued on Thursday, BenzingaRatingsTable reports. The brokerage presently has an “outperform” rating on the stock. Wells Fargo & Co‘s price objective indicates a potential upside of 37.20% from the company’s current price.
Several other equities analysts have also recently weighed in on the company. Zacks Investment Research cut Ranger Energy Services from a “hold” rating to a “sell” rating in a research note on Friday, September 6th. ValuEngine raised Ranger Energy Services from a “strong sell” rating to a “sell” rating in a research report on Thursday, June 27th. Two research analysts have rated the stock with a sell rating, two have issued a hold rating and four have given a buy rating to the stock. The stock presently has an average rating of “Hold” and an average target price of $9.96.
NYSE:RNGR traded down $0.04 during trading hours on Thursday, hitting $6.56. 501 shares of the company traded hands, compared to its average volume of 8,977. The company has a quick ratio of 1.13, a current ratio of 1.26 and a debt-to-equity ratio of 0.28. The firm’s 50-day simple moving average is $6.38 and its 200-day simple moving average is $7.01. Ranger Energy Services has a one year low of $4.70 and a one year high of $8.76. The company has a market cap of $101.43 million, a PE ratio of 14.58 and a beta of 3.27.
Ranger Energy Services (NYSE:RNGR) last issued its quarterly earnings data on Thursday, July 25th. The company reported $0.11 earnings per share for the quarter, missing the consensus estimate of $0.23 by ($0.12). Ranger Energy Services had a net margin of 1.79% and a return on equity of 3.13%. The company had revenue of $84.30 million for the quarter, compared to the consensus estimate of $91.73 million. As a group, equities research analysts expect that Ranger Energy Services will post 0.71 EPS for the current year.
Several institutional investors have recently made changes to their positions in the company. Creative Planning purchased a new stake in shares of Ranger Energy Services during the 2nd quarter valued at $132,000. BlackRock Inc. increased its position in shares of Ranger Energy Services by 15.5% during the 2nd quarter. BlackRock Inc. now owns 14,358 shares of the company’s stock valued at $115,000 after purchasing an additional 1,928 shares during the last quarter. Royal Bank of Canada increased its position in shares of Ranger Energy Services by 250,000.0% during the 2nd quarter. Royal Bank of Canada now owns 7,503 shares of the company’s stock valued at $60,000 after purchasing an additional 7,500 shares during the last quarter. Finally, Private Capital Group LLC purchased a new stake in shares of Ranger Energy Services during the 2nd quarter valued at $32,000. 26.76% of the stock is owned by hedge funds and other institutional investors.
About Ranger Energy Services
Ranger Energy Services, Inc provides well service rigs and related services in the United States. It operates through three segments: High Specification Rigs, Completion and Other Services, and Processing Solutions. The company offers well completion support services, such as milling out composite plugs used during hydraulic fracturing, wireline, and snubbing services; workover services, including retrieval and replacement of existing production tubing; well maintenance services comprising replacement of downhole artificial lift components; and decommissioning services consisting of plugging and abandonment services.
Further Reading: Quick Ratio
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