Keane Group (NYSE:FRAC) Rating Increased to Buy at ValuEngine

Keane Group (NYSE:FRAC) was upgraded by stock analysts at ValuEngine from a “hold” rating to a “buy” rating in a research report issued on Wednesday, ValuEngine reports.

Other equities analysts have also recently issued research reports about the company. AltaCorp Capital reiterated a “sector perform” rating on shares of Keane Group in a report on Thursday, June 20th. Citigroup cut Keane Group from a “buy” rating to a “hold” rating and reduced their price target for the stock from $18.00 to $12.00 in a report on Monday, September 9th. Wells Fargo & Co reduced their price target on Keane Group from $11.00 to $10.00 and set an “outperform” rating for the company in a report on Thursday, September 12th. Zacks Investment Research cut Keane Group from a “buy” rating to a “hold” rating in a report on Tuesday, August 13th. Finally, R. F. Lafferty cut Keane Group from a “buy” rating to a “hold” rating and reduced their price target for the stock from $18.00 to $12.00 in a report on Monday, September 9th. Five analysts have rated the stock with a hold rating and nine have given a buy rating to the stock. The company has a consensus rating of “Buy” and a consensus target price of $13.43.

Shares of NYSE:FRAC traded down $0.08 during midday trading on Wednesday, reaching $5.58. The company had a trading volume of 1,574,018 shares, compared to its average volume of 1,824,857. Keane Group has a 1-year low of $4.69 and a 1-year high of $13.91. The company has a quick ratio of 1.44, a current ratio of 1.56 and a debt-to-equity ratio of 0.79. The stock has a market cap of $594.21 million, a PE ratio of 6.07 and a beta of 1.38. The business’s 50 day moving average price is $5.68 and its 200 day moving average price is $7.72.

Keane Group (NYSE:FRAC) last posted its quarterly earnings results on Monday, July 29th. The company reported $0.06 EPS for the quarter, topping analysts’ consensus estimates of ($0.05) by $0.11. Keane Group had a return on equity of 7.21% and a net margin of 0.53%. The business had revenue of $427.70 million during the quarter, compared to analysts’ expectations of $413.63 million. During the same quarter last year, the company posted $0.28 earnings per share. Keane Group’s quarterly revenue was down 26.1% on a year-over-year basis. On average, research analysts expect that Keane Group will post -0.1 earnings per share for the current fiscal year.

Large investors have recently modified their holdings of the company. Envestnet Asset Management Inc. bought a new stake in shares of Keane Group during the second quarter worth approximately $68,000. Point72 Hong Kong Ltd boosted its holdings in shares of Keane Group by 266.9% during the second quarter. Point72 Hong Kong Ltd now owns 11,307 shares of the company’s stock worth $76,000 after acquiring an additional 8,225 shares during the period. Aperio Group LLC bought a new stake in shares of Keane Group during the second quarter worth approximately $81,000. NumerixS Investment Technologies Inc bought a new stake in shares of Keane Group during the first quarter worth approximately $150,000. Finally, Bbva USA Bancshares Inc. boosted its holdings in shares of Keane Group by 22.6% during the second quarter. Bbva USA Bancshares Inc. now owns 18,425 shares of the company’s stock worth $124,000 after acquiring an additional 3,400 shares during the period. Institutional investors own 90.06% of the company’s stock.

About Keane Group

Keane Group, Inc engages in the provision of hydraulic and engineered related solutions. It provides horizontal and vertical fracturing, wireline perforation and logging & engineered, as well as other value-added services. The company operates through two segments: Completion, and Other Services. The Completion Services segment refers to the hydraulic fracturing and wireline divisions.

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Analyst Recommendations for Keane Group (NYSE:FRAC)

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