Piper Jaffray Companies Reiterates $23.00 Price Target for Keane Group (FRAC)

Keane Group (NYSE:FRAC) received a $23.00 target price from investment analysts at Piper Jaffray Companies in a research note issued on Monday. The firm currently has a “buy” rating on the stock. Piper Jaffray Companies’ target price would indicate a potential upside of 22.86% from the stock’s current price.

A number of other equities analysts also recently commented on FRAC. Jefferies Group reduced their target price on shares of Keane Group from $20.00 to $19.00 and set a “buy” rating for the company in a report on Friday, November 3rd. BidaskClub upgraded shares of Keane Group from a “buy” rating to a “strong-buy” rating in a report on Saturday, September 30th. Barclays assumed coverage on shares of Keane Group in a report on Friday, October 6th. They issued an “underweight” rating and a $16.00 target price for the company. Zacks Investment Research upgraded shares of Keane Group from a “hold” rating to a “buy” rating and set a $19.00 target price for the company in a report on Wednesday, October 4th. Finally, Citigroup set a $18.00 target price on shares of Keane Group and gave the stock a “hold” rating in a report on Thursday, October 5th. Eleven equities research analysts have rated the stock with a hold rating and ten have issued a buy rating to the stock. The company currently has an average rating of “Hold” and a consensus price target of $20.95.

Keane Group (FRAC) traded up $0.87 during trading hours on Monday, reaching $18.72. 419,796 shares of the company were exchanged, compared to its average volume of 1,097,648. Keane Group has a 52 week low of $12.42 and a 52 week high of $22.93. The stock has a market capitalization of $2,060.00 and a price-to-earnings ratio of -15.34. The company has a current ratio of 1.41, a quick ratio of 1.26 and a debt-to-equity ratio of 0.60.

Keane Group (NYSE:FRAC) last released its quarterly earnings data on Wednesday, November 1st. The company reported $0.04 earnings per share for the quarter, missing the Zacks’ consensus estimate of $0.16 by ($0.12). Keane Group had a negative return on equity of 19.19% and a negative net margin of 9.90%. The business had revenue of $477.30 million during the quarter, compared to analysts’ expectations of $493.40 million. The firm’s revenue was up 47.7% compared to the same quarter last year. sell-side analysts predict that Keane Group will post 0.1 EPS for the current fiscal year.

Institutional investors have recently added to or reduced their stakes in the business. Quantbot Technologies LP purchased a new position in shares of Keane Group during the 3rd quarter valued at approximately $121,000. Legal & General Group Plc lifted its position in shares of Keane Group by 64.2% during the 2nd quarter. Legal & General Group Plc now owns 7,638 shares of the company’s stock valued at $120,000 after buying an additional 2,985 shares in the last quarter. Boothbay Fund Management LLC purchased a new position in shares of Keane Group during the 3rd quarter valued at approximately $173,000. Advisors Asset Management Inc. lifted its position in shares of Keane Group by 566.6% during the 3rd quarter. Advisors Asset Management Inc. now owns 10,972 shares of the company’s stock valued at $183,000 after buying an additional 9,326 shares in the last quarter. Finally, Parametric Portfolio Associates LLC purchased a new position in shares of Keane Group during the 2nd quarter valued at approximately $179,000. Institutional investors and hedge funds own 38.30% of the company’s stock.

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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.

Analyst Recommendations for Keane Group (NYSE:FRAC)