Morgan Stanley Cuts FTS International (NYSE:FTSI) Price Target to $21.00

FTS International (NYSE:FTSI) had its price target reduced by Morgan Stanley from $23.00 to $21.00 in a research report report published on Monday, August 6th. They currently have a buy rating on the stock.

Several other analysts have also recently commented on the stock. Tudor Pickering cut shares of FTS International from a buy rating to a hold rating in a research note on Friday, June 8th. Cowen restated a buy rating and issued a $23.00 target price on shares of FTS International in a report on Friday, April 13th. Capital One Financial restated an equal weight rating on shares of FTS International in a report on Wednesday, July 25th. Credit Suisse Group reduced their target price on shares of FTS International from $26.00 to $15.00 and set an outperform rating on the stock in a report on Thursday, August 2nd. Finally, Guggenheim restated a buy rating and issued a $19.00 target price on shares of FTS International in a report on Thursday, August 2nd. Two research analysts have rated the stock with a sell rating, three have issued a hold rating and eight have assigned a buy rating to the company. FTS International currently has an average rating of Hold and a consensus price target of $21.11.

Shares of FTSI traded down $0.16 during trading hours on Monday, reaching $11.03. 606,800 shares of the stock traded hands, compared to its average volume of 667,832. The company has a debt-to-equity ratio of 28.83, a quick ratio of 2.26 and a current ratio of 2.58. FTS International has a 52-week low of $10.34 and a 52-week high of $22.60.

FTS International (NYSE:FTSI) last announced its quarterly earnings results on Tuesday, July 31st. The company reported $0.95 EPS for the quarter, missing the consensus estimate of $1.04 by ($0.09). The business had revenue of $493.30 million for the quarter, compared to analyst estimates of $528.87 million. equities analysts forecast that FTS International will post 2.94 earnings per share for the current fiscal year.

A number of large investors have recently modified their holdings of the stock. Temasek Holdings Private Ltd bought a new position in FTS International in the 1st quarter worth about $765,339,000. BlackRock Inc. bought a new position in FTS International in the 1st quarter worth about $51,670,000. Point72 Asset Management L.P. grew its stake in FTS International by 27.6% in the 2nd quarter. Point72 Asset Management L.P. now owns 1,712,309 shares of the company’s stock worth $24,383,000 after acquiring an additional 369,909 shares in the last quarter. Millennium Management LLC grew its stake in FTS International by 61.9% in the 2nd quarter. Millennium Management LLC now owns 1,292,323 shares of the company’s stock worth $18,403,000 after acquiring an additional 494,262 shares in the last quarter. Finally, Feinberg Stephen grew its stake in FTS International by 144.0% in the 2nd quarter. Feinberg Stephen now owns 927,406 shares of the company’s stock worth $13,206,000 after acquiring an additional 547,272 shares in the last quarter. Institutional investors own 67.35% of the company’s stock.

About FTS International

FTS International, Inc provides hydraulic fracturing services in North America. Its services enhance hydrocarbon flow from oil and natural gas wells drilled by exploration and production companies (E&P), in shale and other unconventional resource formations. The company's wireline services primarily consist of setting plugs between hydraulic fracturing stages, creating perforations within hydraulic fracturing stages, and logging the characteristics of resource formations.

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Analyst Recommendations for FTS International (NYSE:FTSI)

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