Keane Group (NYSE:FRAC) Shares Gap Down to $4.95

Shares of Keane Group Inc (NYSE:FRAC) gapped down prior to trading on Tuesday . The stock had previously closed at $4.82, but opened at $4.95. Keane Group shares last traded at $4.91, with a volume of 27,692 shares changing hands.

A number of research analysts have weighed in on the company. R. F. Lafferty downgraded Keane Group from a “buy” rating to a “hold” rating and lowered their target price for the company from $18.00 to $12.00 in a report on Monday, September 9th. AltaCorp Capital reissued a “sector perform” rating on shares of Keane Group in a report on Thursday, June 20th. ValuEngine raised Keane Group from a “hold” rating to a “buy” rating in a report on Wednesday, October 2nd. Wells Fargo & Co lowered their target price on Keane Group from $11.00 to $10.00 and set an “outperform” rating on the stock in a report on Thursday, September 12th. Finally, Citigroup downgraded Keane Group from a “buy” rating to a “hold” rating and lowered their target price for the company from $18.00 to $12.00 in a report on Monday, September 9th. Four research analysts have rated the stock with a hold rating and eight have given a buy rating to the company’s stock. The stock presently has an average rating of “Buy” and a consensus price target of $12.47.

The firm has a 50 day moving average price of $5.68 and a 200 day moving average price of $7.45. 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 $546.97 million, a P/E ratio of 5.14 and a beta of 1.38.

Keane Group (NYSE:FRAC) last posted its quarterly earnings data on Monday, July 29th. The company reported $0.06 EPS for the quarter, topping the consensus estimate of ($0.05) by $0.11. Keane Group had a return on equity of 7.21% and a net margin of 0.53%. The firm had revenue of $427.70 million for the quarter, compared to the consensus estimate of $413.63 million. During the same quarter last year, the company earned $0.28 earnings per share. The business’s revenue for the quarter was down 26.1% compared to the same quarter last year. Equities analysts predict that Keane Group Inc will post -0.12 earnings per share for the current fiscal year.

Several hedge funds and other institutional investors have recently bought and sold shares of the company. Vanguard Group Inc. raised its stake in shares of Keane Group by 1.6% in the second quarter. Vanguard Group Inc. now owns 4,032,668 shares of the company’s stock worth $27,100,000 after buying an additional 63,512 shares during the period. BlackRock Inc. raised its stake in shares of Keane Group by 3.6% in the second quarter. BlackRock Inc. now owns 3,467,359 shares of the company’s stock worth $23,300,000 after buying an additional 121,146 shares during the period. Nuveen Asset Management LLC bought a new position in shares of Keane Group in the second quarter worth about $11,208,000. Balyasny Asset Management LLC raised its stake in shares of Keane Group by 368.5% in the second quarter. Balyasny Asset Management LLC now owns 1,019,161 shares of the company’s stock worth $6,849,000 after buying an additional 801,604 shares during the period. Finally, Anchor Bolt Capital LP raised its stake in shares of Keane Group by 280.7% in the second quarter. Anchor Bolt Capital LP now owns 1,011,437 shares of the company’s stock worth $6,797,000 after buying an additional 745,756 shares during the period. 90.06% of the stock is currently owned by hedge funds and other institutional investors.

About Keane Group (NYSE:FRAC)

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.

Featured Article: Google Finance Portfolio

Receive News & Ratings for Keane Group Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Keane Group and related companies with MarketBeat.com's FREE daily email newsletter.