Keane Group Inc (FRAC) Receives “Buy” Rating from Piper Jaffray Companies
Keane Group Inc (NASDAQ:FRAC)‘s stock had its “buy” rating reissued by equities research analysts at Piper Jaffray Companies in a note issued to investors on Tuesday. They presently have a $18.00 target price on the stock. Piper Jaffray Companies’ price objective would suggest a potential upside of 20.56% from the company’s previous close.
FRAC has been the topic of several other research reports. Susquehanna Bancshares Inc assumed coverage on shares of Keane Group in a research report on Monday, June 5th. They set a “neutral” rating and a $17.00 price target on the stock. Morgan Stanley reiterated an “overweight” rating and issued a $22.00 target price (down previously from $25.00) on shares of Keane Group in a research report on Wednesday, June 21st. Citigroup Inc. lifted their target price on shares of Keane Group from $17.00 to $19.00 and gave the company a “buy” rating in a research report on Thursday, May 25th. Iberia Capital assumed coverage on shares of Keane Group in a research report on Friday, June 23rd. They issued an “outperform” rating and a $19.00 target price on the stock. Finally, BidaskClub upgraded shares of Keane Group from a “sell” rating to a “hold” rating in a research report on Saturday. Nine investment analysts have rated the stock with a hold rating and nine have given a buy rating to the company. The stock presently has an average rating of “Buy” and a consensus target price of $20.94.
Keane Group (NASDAQ:FRAC) opened at 14.93 on Tuesday. The company’s 50 day moving average is $13.89 and its 200-day moving average is $14.36. The stock’s market cap is $1.67 billion. Keane Group has a 1-year low of $12.70 and a 1-year high of $22.93.
Keane Group (NASDAQ:FRAC) last released its quarterly earnings results on Monday, July 31st. The company reported ($0.01) EPS for the quarter, beating the Thomson Reuters’ consensus estimate of ($0.07) by $0.06. The company had revenue of $323.10 million for the quarter, compared to analyst estimates of $316.71 million. Keane Group had a negative net margin of 3.68% and a negative return on equity of 14.38%. The company’s quarterly revenue was up 34.5% on a year-over-year basis. Equities research analysts forecast that Keane Group will post $0.09 earnings per share for the current fiscal year.
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A number of hedge funds have recently modified their holdings of FRAC. Nationwide Fund Advisors purchased a new position in Keane Group during the first quarter worth about $119,000. Legal & General Group Plc raised its stake in Keane Group by 64.2% during the second quarter. Legal & General Group Plc now owns 7,638 shares of the company’s stock worth $120,000 after purchasing an additional 2,985 shares during the period. Strs Ohio purchased a new position in Keane Group during the first quarter worth about $131,000. Parametric Portfolio Associates LLC purchased a new position in Keane Group during the second quarter worth about $179,000. Finally, First Mercantile Trust Co. raised its stake in Keane Group by 35.6% during the second quarter. First Mercantile Trust Co. now owns 12,644 shares of the company’s stock worth $202,000 after purchasing an additional 3,319 shares during the period.
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.
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