Zacks Investment Research upgraded shares of Frank’s International NV (NYSE:FI) from a strong sell rating to a hold rating in a report issued on Tuesday morning.

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 have also weighed in on FI. JPMorgan Chase & Co. reissued a hold rating on shares of Frank’s International NV in a research note on Monday, October 10th. Evercore ISI set a $9.00 price objective on shares of Frank’s International NV and gave the company a hold rating in a report on Monday, October 10th. Scotiabank reaffirmed a sector perform rating and issued a $12.00 price target (down from $14.00) on shares of Frank’s International NV in a report on Friday, September 30th. Howard Weil cut their price target on shares of Frank’s International NV from $14.00 to $12.00 and set a sector perform rating on the stock in a report on Thursday, September 29th. Finally, Jefferies Group reaffirmed a sell rating on shares of Frank’s International NV in a report on Tuesday, August 30th. Two investment analysts have rated the stock with a sell rating, eleven have issued a hold rating and three have issued a buy rating to the company. Frank’s International NV has an average rating of Hold and a consensus target price of $14.57.

Analyst Recommendations for Frank`s International NV (NYSE:FI)

Frank’s International NV (NYSE:FI) opened at 12.42 on Tuesday. The company’s market cap is $1.94 billion. The firm has a 50-day moving average price of $12.30 and a 200 day moving average price of $14.22. Frank’s International NV has a one year low of $10.91 and a one year high of $18.14.

Frank’s International NV (NYSE:FI) last issued its quarterly earnings results on Thursday, July 28th. The company reported ($0.14) earnings per share (EPS) for the quarter, missing the Thomson Reuters’ consensus estimate of ($0.01) by $0.13. Frank’s International NV had a positive return on equity of 1.00% and a negative net margin of 1.14%. The firm had revenue of $121 million for the quarter, compared to the consensus estimate of $142.41 million. During the same period last year, the firm earned $0.14 EPS. The company’s revenue for the quarter was down 52.4% on a year-over-year basis. Equities analysts expect that Frank’s International NV will post ($0.41) earnings per share for the current fiscal year.

In other Frank’s International NV news, major shareholder Donald E. Mosing acquired 41,000 shares of the stock in a transaction on Friday, August 5th. The shares were bought at an average cost of $12.15 per share, with a total value of $498,150.00. Following the transaction, the insider now owns 91,000 shares of the company’s stock, valued at approximately $1,105,650. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. Company insiders own 77.40% of the company’s stock.

Hedge funds and other institutional investors have recently modified their holdings of the company. FMR LLC increased its position in shares of Frank’s International NV by 0.5% in the second quarter. FMR LLC now owns 6,066,329 shares of the company’s stock valued at $88,629,000 after buying an additional 31,505 shares during the last quarter. American Century Companies Inc. increased its position in shares of Frank’s International NV by 557.6% in the second quarter. American Century Companies Inc. now owns 5,445,175 shares of the company’s stock valued at $79,554,000 after buying an additional 4,617,086 shares during the last quarter. Massachusetts Financial Services Co. MA increased its position in shares of Frank’s International NV by 16.8% in the second quarter. Massachusetts Financial Services Co. MA now owns 1,980,047 shares of the company’s stock valued at $28,928,000 after buying an additional 284,778 shares during the last quarter. Lazard Asset Management LLC increased its position in shares of Frank’s International NV by 3.1% in the first quarter. Lazard Asset Management LLC now owns 1,582,228 shares of the company’s stock valued at $26,074,000 after buying an additional 48,301 shares during the last quarter. Finally, First Trust Advisors LP increased its position in shares of Frank’s International NV by 4,262.4% in the second quarter. First Trust Advisors LP now owns 1,548,245 shares of the company’s stock valued at $22,620,000 after buying an additional 1,512,754 shares during the last quarter. 26.86% of the stock is currently owned by institutional investors.

About Frank’s International NV

Frank’s International N.V. is a provider of engineered tubular services to the oil and gas industry. The Company operates through three business segments: International Services, U.S. Services and Tubular Sales. The Company provides services to exploration and production companies in both offshore and onshore environments, with a focus on technically demanding wells.

5 Day Chart for NYSE:FI

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