Barclays PLC Initiates Coverage on Keane Group Inc (FRAC)
Barclays PLC started coverage on shares of Keane Group Inc (NASDAQ:FRAC) in a research note issued on Friday. The firm set an “underweight” rating and a $16.00 price target on the stock. Barclays PLC’s price objective points to a potential downside of 0.68% from the stock’s previous close.
A number of other research analysts have also recently weighed in on the stock. Citigroup Inc. cut shares of Keane Group from a “buy” rating to a “neutral” rating and reduced their price target for the company from $19.00 to $14.00 in a research report on Wednesday, August 30th. Morgan Stanley reaffirmed an “overweight” rating and set a $22.00 price target (down from $25.00) on shares of Keane Group in a research report on Wednesday, June 21st. Piper Jaffray Companies reaffirmed a “buy” rating and set a $16.15 price target (down from $17.00) on shares of Keane Group in a research report on Wednesday, July 12th. Capital One Financial Corporation reaffirmed an “overweight” rating on shares of Keane Group in a research report on Thursday, July 27th. Finally, Iberia Capital initiated coverage on shares of Keane Group in a research report on Friday, June 23rd. They set an “outperform” rating and a $19.00 price target on the stock. One investment analyst has rated the stock with a sell rating, eight have issued a hold rating, eleven have given a buy rating and one has assigned a strong buy rating to the stock. The stock presently has an average rating of “Buy” and an average price target of $20.74.
Shares of Keane Group (FRAC) opened at 16.11 on Friday. The stock’s market capitalization is $1.80 billion. Keane Group has a 52 week low of $12.70 and a 52 week high of $22.93. The company’s 50-day moving average is $15.54 and its 200 day moving average is $15.54.
Keane Group (NASDAQ:FRAC) last announced 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. The firm had revenue of $323.10 million for the quarter, compared to analysts’ expectations of $316.71 million. Keane Group had a negative net margin of 3.68% and a negative return on equity of 14.38%. The firm’s revenue for the quarter was up 34.5% on a year-over-year basis. On average, equities analysts forecast that Keane Group will post $0.10 EPS for the current fiscal year.
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Several institutional investors and hedge funds have recently bought and sold shares of FRAC. Janus Henderson Group PLC raised its stake in shares of Keane Group by 4,762.9% during the second quarter. Janus Henderson Group PLC now owns 4,250,092 shares of the company’s stock valued at $68,001,000 after purchasing an additional 4,162,694 shares during the period. Vanguard Group Inc. purchased a new stake in shares of Keane Group during the first quarter valued at approximately $31,906,000. Omega Advisors Inc. purchased a new stake in shares of Keane Group during the first quarter valued at approximately $31,293,000. Point72 Asset Management L.P. purchased a new stake in shares of Keane Group during the first quarter valued at approximately $26,731,000. Finally, TimesSquare Capital Management LLC purchased a new stake in shares of Keane Group during the first quarter valued at approximately $22,338,000.
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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