Brokerages Set Keane Group Inc (FRAC) Target Price at $18.63

Keane Group Inc (NYSE:FRAC) has been assigned a consensus rating of “Buy” from the twenty-one analysts that are presently covering the company, Marketbeat Ratings reports. Two investment analysts have rated the stock with a sell recommendation, two have issued a hold recommendation and sixteen have given a buy recommendation to the company. The average 12 month price objective among analysts that have issued a report on the stock in the last year is $18.63.

Several equities research analysts have commented on the stock. Jefferies Financial Group lowered shares of Keane Group from a “buy” rating to a “hold” rating and set a $9.37 target price on the stock. in a research report on Thursday, January 10th. TheStreet lowered shares of Keane Group from a “c-” rating to a “d+” rating in a research report on Monday, December 10th. GMP Securities upgraded shares of Keane Group from a “hold” rating to a “buy” rating in a research report on Wednesday, December 5th. Citigroup decreased their target price on shares of Keane Group from $16.00 to $15.00 and set a “buy” rating on the stock in a research report on Thursday, November 29th. Finally, JPMorgan Chase & Co. boosted their price objective on shares of Keane Group from $18.00 to $19.00 and gave the stock an “overweight” rating in a research report on Friday, November 2nd.

In related news, major shareholder Keane Investor Holdings Llc sold 5,251,249 shares of the business’s stock in a transaction dated Thursday, December 6th. The shares were sold at an average price of $10.77, for a total value of $56,555,951.73. Following the sale, the insider now directly owns 51,668,175 shares in the company, valued at approximately $556,466,244.75. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this link. 0.64% of the stock is owned by insiders.

Hedge funds have recently made changes to their positions in the stock. Dimensional Fund Advisors LP increased its stake in shares of Keane Group by 101.2% during the 3rd quarter. Dimensional Fund Advisors LP now owns 1,970,214 shares of the company’s stock valued at $24,372,000 after acquiring an additional 990,975 shares during the last quarter. Wilks Brothers LLC increased its stake in shares of Keane Group by 83.7% during the 3rd quarter. Wilks Brothers LLC now owns 1,450,100 shares of the company’s stock valued at $17,938,000 after acquiring an additional 660,900 shares during the last quarter. Macquarie Group Ltd. increased its stake in shares of Keane Group by 32.4% during the 3rd quarter. Macquarie Group Ltd. now owns 2,615,036 shares of the company’s stock valued at $32,348,000 after acquiring an additional 639,558 shares during the last quarter. BlackRock Inc. increased its stake in shares of Keane Group by 19.4% during the 2nd quarter. BlackRock Inc. now owns 3,932,037 shares of the company’s stock valued at $53,750,000 after acquiring an additional 638,306 shares during the last quarter. Finally, BlueMountain Capital Management LLC increased its stake in shares of Keane Group by 1,205.3% during the 3rd quarter. BlueMountain Capital Management LLC now owns 568,924 shares of the company’s stock valued at $7,038,000 after acquiring an additional 525,339 shares during the last quarter. 90.53% of the stock is owned by hedge funds and other institutional investors.

Shares of FRAC opened at $9.77 on Friday. The company has a debt-to-equity ratio of 0.67, a quick ratio of 1.35 and a current ratio of 1.46. The firm has a market capitalization of $1.02 billion, a price-to-earnings ratio of 61.06, a PEG ratio of 7.18 and a beta of 0.59. Keane Group has a 1 year low of $7.44 and a 1 year high of $17.31.

Keane Group (NYSE:FRAC) last issued its earnings results on Wednesday, October 31st. The company reported $0.28 EPS for the quarter, topping the consensus estimate of $0.19 by $0.09. The company 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%. The business’s revenue was up 17.1% on a year-over-year basis. During the same period in the previous year, the firm earned $0.04 EPS. As a group, equities research analysts expect that Keane Group will post 0.72 EPS for the current year.

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.

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Analyst Recommendations for Keane Group (NYSE:FRAC)

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