Keane Group (FRAC) Price Target Raised to $19.00

Keane Group (NYSE:FRAC) had its price target increased by JPMorgan Chase & Co. from $18.00 to $19.00 in a report issued on Friday, November 2nd. The firm currently has an overweight rating on the stock.

Several other analysts have also issued reports on FRAC. Citigroup decreased their price target on shares of Keane Group from $19.00 to $16.00 and set a buy rating on the stock in a research report on Monday, July 9th. Zacks Investment Research downgraded shares of Keane Group from a hold rating to a strong sell rating in a report on Tuesday, July 10th. Morgan Stanley reduced their price objective on shares of Keane Group from $23.00 to $19.00 and set an overweight rating for the company in a report on Thursday, July 12th. BMO Capital Markets set a $18.00 price objective on shares of Keane Group and gave the stock a buy rating in a report on Wednesday, July 11th. Finally, TheStreet downgraded shares of Keane Group from a c- rating to a d rating in a report on Monday, July 23rd. Two investment analysts have rated the stock with a sell rating, two have issued a hold rating and seventeen have assigned a buy rating to the stock. The company presently has an average rating of Buy and an average price target of $19.91.

Shares of FRAC traded down $0.27 during mid-day trading on Friday, hitting $13.14. 578,606 shares of the company’s stock were exchanged, compared to its average volume of 1,084,728. Keane Group has a twelve month low of $10.12 and a twelve month high of $19.83. The company has a quick ratio of 1.51, a current ratio of 1.46 and a debt-to-equity ratio of 0.67. The firm has a market cap of $1.44 billion, a price-to-earnings ratio of 82.13, a price-to-earnings-growth ratio of 0.47 and a beta of -0.50.

Keane Group (NYSE:FRAC) last posted its earnings results on Wednesday, October 31st. The company reported $0.28 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.19 by $0.09. The business had revenue of $558.91 million for the quarter, compared to analyst estimates of $545.56 million. Keane Group had a net margin of 4.51% and a return on equity of 25.19%. Keane Group’s revenue was up 17.1% compared to the same quarter last year. During the same period last year, the business posted $0.04 EPS. As a group, research analysts predict that Keane Group will post 0.73 earnings per share for the current fiscal year.

Large investors have recently modified their holdings of the company. State of Wisconsin Investment Board grew its position in shares of Keane Group by 84.2% during the 2nd quarter. State of Wisconsin Investment Board now owns 495,400 shares of the company’s stock worth $6,772,000 after buying an additional 226,400 shares during the period. Sei Investments Co. grew its position in shares of Keane Group by 24.2% during the 2nd quarter. Sei Investments Co. now owns 219,386 shares of the company’s stock worth $2,999,000 after buying an additional 42,802 shares during the period. Janus Henderson Group PLC grew its position in shares of Keane Group by 17.5% during the 2nd quarter. Janus Henderson Group PLC now owns 5,076,827 shares of the company’s stock worth $69,400,000 after buying an additional 755,319 shares during the period. SCP Investment LP acquired a new stake in shares of Keane Group during the 2nd quarter worth approximately $1,761,000. Finally, Viking Fund Management LLC acquired a new position in Keane Group during the second quarter valued at approximately $7,655,000. Institutional investors own 86.88% of the company’s stock.

About Keane Group

Keane Group, Inc provides integrated well completion services primarily in the United States. Its principal service offerings include horizontal and vertical fracturing, wireline perforation and logging, and engineered solutions, as well as other value-added services. The company also provides cementing and drilling services; and engineering software and technical guidance for remedial cementing applications and acidizing.

Read More: What Factors Can Affect Return on Equity?

Analyst Recommendations for Keane Group (NYSE:FRAC)

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.

Leave a Reply