Keane Group Inc (FRAC) Downgraded by Citigroup Inc. to “Neutral”
Keane Group Inc (NASDAQ:FRAC) was downgraded by research analysts at Citigroup Inc. from a “buy” rating to a “neutral” rating in a research note issued to investors on Wednesday. They currently have a $14.00 price objective on the stock. Citigroup Inc.’s price target indicates a potential upside of 6.22% from the company’s previous close.
Several other analysts have also commented on the stock. Scotiabank set a $21.00 price objective on shares of Keane Group and gave the stock a “hold” rating in a research report on Tuesday, August 1st. Capital One Financial Corporation reiterated an “overweight” rating on shares of Keane Group in a research note on Thursday, July 27th. Piper Jaffray Companies reiterated a “buy” rating and issued a $16.15 target price (down previously from $17.00) on shares of Keane Group in a research note on Wednesday, July 12th. Iberia Capital started coverage on shares of Keane Group in a research note on Friday, June 23rd. They issued an “outperform” rating and a $19.00 target price for the company. Finally, Morgan Stanley reaffirmed an “overweight” rating and set a $22.00 price objective (down previously from $25.00) on shares of Keane Group in a research note on Wednesday, June 21st. Eight research analysts have rated the stock with a hold rating and nine have given a buy rating to the company. The company currently has an average rating of “Buy” and an average target price of $21.07.
Shares of Keane Group (NASDAQ:FRAC) traded down 3.41% during mid-day trading on Wednesday, hitting $12.73. The company had a trading volume of 217,717 shares. The company’s market capitalization is $1.42 billion. Keane Group has a one year low of $12.42 and a one year high of $22.93. The firm’s 50-day moving average price is $14.81 and its 200 day moving average price is $15.54.
Keane Group (NASDAQ:FRAC) last released its quarterly earnings results on Monday, July 31st. The company reported ($0.01) earnings per share for the quarter, beating analysts’ consensus estimates of ($0.07) by $0.06. Keane Group had a negative net margin of 3.68% and a negative return on equity of 14.38%. The company had revenue of $323.10 million for the quarter, compared to analyst estimates of $316.71 million. The firm’s revenue was up 34.5% compared to the same quarter last year. Analysts predict that Keane Group will post $0.10 earnings per share for the current fiscal year.
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Several hedge funds have recently made changes to their positions in FRAC. Creative Planning acquired a new position in shares of Keane Group during the first quarter valued at $177,000. Nationwide Fund Advisors purchased a new stake in Keane Group during the first quarter worth approximately $119,000. First Mercantile Trust Co. purchased a new stake in Keane Group during the first quarter worth approximately $133,000. Strs Ohio purchased a new stake in Keane Group during the first quarter worth approximately $131,000. Finally, Russell Investments Group Ltd. purchased a new stake in Keane Group during the first quarter worth approximately $759,000.
Keane Group Company Profile
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.
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