BidaskClub Lowers Keane Group, Inc. (FRAC) to Hold
BidaskClub cut shares of Keane Group, Inc. (NYSE:FRAC) from a buy rating to a hold rating in a report issued on Wednesday morning.
Several other equities analysts have also issued reports on FRAC. Zacks Investment Research lowered Keane Group from a buy rating to a hold rating in a research note on Tuesday, November 7th. Citigroup Inc. lowered Keane Group from a buy rating to a neutral rating and dropped their price target for the company from $19.00 to $14.00 in a research note on Wednesday, August 30th. Barclays PLC initiated coverage on Keane Group in a research note on Friday, October 6th. They issued an underweight rating and a $16.00 price target on the stock. Jefferies Group LLC initiated coverage on Keane Group in a research note on Thursday, October 5th. They issued a buy rating and a $20.00 price target on the stock. Finally, Piper Jaffray Companies reissued a buy rating and issued a $18.00 price target on shares of Keane Group in a research note on Tuesday, September 19th. Eleven research analysts have rated the stock with a hold rating and ten have given a buy rating to the stock. The company presently has a consensus rating of Hold and a consensus target price of $20.68.
Keane Group (NYSE FRAC) traded up $0.27 during trading hours on Wednesday, hitting $14.59. The stock had a trading volume of 438,448 shares, compared to its average volume of 1,139,128. 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 has a 52 week low of $12.42 and a 52 week high of $22.93.
Keane Group (NYSE:FRAC) last released its quarterly earnings results on Wednesday, November 1st. The company reported $0.04 earnings per share for the quarter, missing the Thomson Reuters’ consensus estimate of $0.16 by ($0.12). The firm had revenue of $477.30 million for the quarter, compared to the consensus estimate of $493.40 million. Keane Group had a negative return on equity of 19.19% and a negative net margin of 9.90%. The business’s quarterly revenue was up 47.7% compared to the same quarter last year. sell-side analysts anticipate that Keane Group will post 0.1 earnings per share for the current year.
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Institutional investors have recently made changes to their positions in the stock. Viking Fund Management LLC grew its holdings in Keane Group by 14.0% during the third quarter. Viking Fund Management LLC now owns 490,000 shares of the company’s stock worth $8,173,000 after buying an additional 60,000 shares in the last quarter. Teachers Advisors LLC grew its holdings in Keane Group by 142.6% during the second quarter. Teachers Advisors LLC now owns 120,294 shares of the company’s stock worth $1,925,000 after buying an additional 70,707 shares in the last quarter. American Century Companies Inc. grew its holdings in Keane Group by 58.0% during the second quarter. American Century Companies Inc. now owns 540,885 shares of the company’s stock worth $8,654,000 after buying an additional 198,626 shares in the last quarter. Morgan Stanley bought a new stake in Keane Group during the first quarter worth $1,651,000. Finally, JPMorgan Chase & Co. bought a new stake in Keane Group during the first quarter worth $1,543,000. Institutional investors and hedge funds own 38.32% of the company’s stock.
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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