Shares of Keane Group Inc (NYSE:FRAC) have been given an average rating of “Buy” by the twenty-one ratings firms that are currently covering the company, Marketbeat Ratings reports. Two research analysts have rated the stock with a sell rating, two have issued a hold rating and sixteen have assigned a buy rating to the company. The average 12 month target price among brokers that have issued ratings on the stock in the last year is $18.63.
Several analysts recently issued reports on the company. Barclays set a $15.00 price objective on Keane Group and gave the stock a “hold” rating in a report on Wednesday, October 10th. JPMorgan Chase & Co. raised their target price on Keane Group from $18.00 to $19.00 and gave the company an “overweight” rating in a report on Friday, November 2nd. Wells Fargo & Co upgraded Keane Group from a “market perform” rating to an “outperform” rating and raised their target price for the company from $13.00 to $16.00 in a report on Friday, November 2nd. Bank of America started coverage on Keane Group in a report on Wednesday, October 17th. They set a “buy” rating on the stock. Finally, Cowen initiated coverage on Keane Group in a report on Saturday, October 13th. They set a “buy” rating and a $19.00 target price on the stock.
In related news, major shareholder Keane Investor Holdings Llc sold 5,251,249 shares of Keane Group stock in a transaction dated Thursday, December 6th. The stock was sold at an average price of $10.77, for a total transaction of $56,555,951.73. Following the sale, the insider now directly owns 51,668,175 shares of the company’s stock, valued at $556,466,244.75. The transaction was disclosed in a document filed with the SEC, which can be accessed through this link. 0.64% 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 business. Oppenheimer Asset Management Inc. acquired a new stake in Keane Group during the fourth quarter valued at approximately $69,000. Fisher Asset Management LLC raised its position in Keane Group by 0.8% in the 4th quarter. Fisher Asset Management LLC now owns 2,712,502 shares of the company’s stock worth $22,188,000 after purchasing an additional 20,611 shares during the last quarter. Assenagon Asset Management S.A. bought a new position in Keane Group in the 4th quarter worth approximately $3,369,000. James Investment Research Inc. bought a new position in Keane Group in the 4th quarter worth approximately $978,000. Finally, Bank of Montreal Can raised its position in Keane Group by 8,067.6% in the 4th quarter. Bank of Montreal Can now owns 103,483 shares of the company’s stock worth $847,000 after purchasing an additional 102,216 shares during the last quarter. 90.53% of the stock is currently owned by institutional investors.
Shares of FRAC traded up $0.17 during trading hours on Friday, hitting $9.84. 10,053 shares of the company were exchanged, compared to its average volume of 766,449. The firm has a market cap of $1.01 billion, a PE ratio of 60.88, a P/E/G ratio of 7.07 and a beta of 0.59. The company has a quick ratio of 1.35, a current ratio of 1.46 and a debt-to-equity ratio of 0.67. Keane Group has a one year low of $7.44 and a one 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 Thomson Reuters’ consensus estimate of $0.19 by $0.09. Keane Group had a return on equity of 25.19% and a net margin of 4.51%. The business had revenue of $558.91 million during the quarter, compared to analysts’ expectations of $545.56 million. During the same quarter last year, the firm posted $0.04 earnings per share. Keane Group’s revenue was up 17.1% compared to the same quarter last year. On average, equities research analysts anticipate that Keane Group will post 0.72 EPS for the current fiscal year.
Keane Group Company Profile
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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