Franks International (NYSE:FI) Upgraded to Buy by Zacks Investment Research

Zacks Investment Research upgraded shares of Franks International (NYSE:FI) from a hold rating to a buy rating in a report issued on Monday morning, Zacks.com reports. Zacks Investment Research currently has $5.75 target price on the pipeline company’s stock.

According to Zacks, “Frank’s International N.V. is a provider of engineered tubular services to the oil and gas industry. Its tubular services include the handling and installation of multiple joints of pipe to establish a cased wellbore; and the installation of smaller diameter pipe inside a cased wellbore to provide a conduit for produced oil and gas to reach the surface. The Company provides its services to exploration and production companies in both offshore and onshore environments, with a focus on complex and technically demanding wells. Frank’s International N.V. is based in Amsterdam, the Netherlands. “

FI opened at $4.99 on Monday. The business has a 50 day moving average price of $5.13 and a two-hundred day moving average price of $5.24. The company has a quick ratio of 3.14, a current ratio of 3.84 and a debt-to-equity ratio of 0.03. Franks International has a 52 week low of $3.98 and a 52 week high of $7.78.

Franks International (NYSE:FI) last announced its earnings results on Tuesday, November 5th. The pipeline company reported ($0.08) earnings per share for the quarter, missing the consensus estimate of ($0.06) by ($0.02). The company had revenue of $140.42 million during the quarter, compared to analysts’ expectations of $157.87 million. Franks International had a negative net margin of 14.18% and a negative return on equity of 7.98%. The company’s revenue for the quarter was up 8.9% compared to the same quarter last year. During the same quarter last year, the business posted ($0.03) earnings per share. As a group, equities analysts expect that Franks International will post -0.28 EPS for the current fiscal year.

In other Franks International news, Director Steven B. Mosing sold 94,538 shares of the business’s stock in a transaction that occurred on Thursday, September 5th. The stock was sold at an average price of $4.43, for a total transaction of $418,803.34. Following the transaction, the director now owns 1,493,941 shares in the company, valued at approximately $6,618,158.63. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, Director Steven B. Mosing sold 34,584 shares of the business’s stock in a transaction that occurred on Monday, September 9th. The stock was sold at an average price of $4.81, for a total value of $166,349.04. Following the transaction, the director now owns 1,493,941 shares in the company, valued at approximately $7,185,856.21. The disclosure for this sale can be found here. 18.20% of the stock is owned by company insiders.

A number of hedge funds and other institutional investors have recently added to or reduced their stakes in the stock. Price T Rowe Associates Inc. MD raised its position in Franks International by 16.4% during the second quarter. Price T Rowe Associates Inc. MD now owns 15,508,859 shares of the pipeline company’s stock worth $84,678,000 after acquiring an additional 2,180,324 shares during the last quarter. Massachusetts Financial Services Co. MA raised its position in Franks International by 12.2% during the third quarter. Massachusetts Financial Services Co. MA now owns 10,918,086 shares of the pipeline company’s stock worth $51,861,000 after acquiring an additional 1,188,338 shares during the last quarter. BlackRock Inc. raised its position in Franks International by 30.5% during the second quarter. BlackRock Inc. now owns 6,852,570 shares of the pipeline company’s stock worth $37,415,000 after acquiring an additional 1,601,376 shares during the last quarter. Investment Counselors of Maryland LLC acquired a new position in Franks International during the second quarter worth about $16,332,000. Finally, State Street Corp raised its position in Franks International by 6.9% during the third quarter. State Street Corp now owns 2,235,203 shares of the pipeline company’s stock worth $10,633,000 after acquiring an additional 144,282 shares during the last quarter. 40.09% of the stock is owned by hedge funds and other institutional investors.

About Franks International

Frank's International N.V. provides various engineered tubular services for the oil and gas exploration and production, and oilfield services companies in the United States, Europe, the Middle East, Africa, Latin America, the Asia Pacific, and internationally. The company operates through four segments: International Services, U.S.

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