Franks International (FI) Downgraded by Zacks Investment Research

Zacks Investment Research cut shares of Franks International (NYSE:FI) from a hold rating to a sell rating in a research note issued to investors on Monday.

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. “

Several other equities analysts have also recently weighed in on FI. JPMorgan Chase & Co. cut their target price on shares of Franks International from $9.00 to $7.00 and set a neutral rating for the company in a research note on Tuesday, September 12th. Jefferies Group set a $9.00 target price on shares of Franks International and gave the company a hold rating in a research note on Thursday, October 5th. Royal Bank of Canada set a $10.00 target price on shares of Franks International and gave the company a buy rating in a research note on Sunday, October 8th. Deutsche Bank initiated coverage on shares of Franks International in a research note on Tuesday, October 10th. They set a hold rating and a $7.00 target price for the company. Finally, Piper Jaffray Companies reaffirmed a hold rating on shares of Franks International in a research note on Sunday, October 22nd. Five research analysts have rated the stock with a sell rating, nine have given a hold rating and one has given a buy rating to the company. The company currently has a consensus rating of Hold and a consensus target price of $7.61.

Franks International (NYSE:FI) traded up $0.20 on Monday, reaching $7.71. 699,095 shares of the company traded hands, compared to its average volume of 952,462. The stock has a market capitalization of $1,664.38, a PE ratio of -14.55 and a beta of 1.10. Franks International has a 52 week low of $5.79 and a 52 week high of $13.00.

Franks International (NYSE:FI) last posted its earnings results on Thursday, November 2nd. The pipeline company reported ($0.11) earnings per share for the quarter, meeting the Thomson Reuters’ consensus estimate of ($0.11). The company had revenue of $108.08 million during the quarter, compared to analysts’ expectations of $120.42 million. Franks International had a negative net margin of 26.21% and a negative return on equity of 9.25%. Franks International’s quarterly revenue was up 2.8% on a year-over-year basis. During the same period last year, the company posted ($0.14) earnings per share. analysts forecast that Franks International will post -0.45 EPS for the current year.

In other news, major shareholder Michael Frank Mosing sold 800,000 shares of the firm’s stock in a transaction dated Wednesday, December 6th. The shares were sold at an average price of $5.62, for a total value of $4,496,000.00. Following the completion of the sale, the insider now owns 803,735 shares in the company, valued at approximately $4,516,990.70. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this hyperlink. Also, major shareholder Frank Mosing Family L. Michael sold 45,000 shares of the firm’s stock in a transaction dated Monday, November 6th. The stock was sold at an average price of $7.28, for a total transaction of $327,600.00. Following the completion of the sale, the insider now owns 9,273,667 shares of the company’s stock, valued at approximately $67,512,295.76. The disclosure for this sale can be found here. Insiders have sold 4,796,592 shares of company stock valued at $29,774,337 in the last quarter. 77.90% of the stock is owned by company insiders.

Institutional investors have recently added to or reduced their stakes in the company. Citigroup Inc. lifted its holdings in shares of Franks International by 726.2% in the 2nd quarter. Citigroup Inc. now owns 12,162 shares of the pipeline company’s stock worth $101,000 after acquiring an additional 10,690 shares during the last quarter. Legal & General Group Plc lifted its holdings in shares of Franks International by 567.8% in the 2nd quarter. Legal & General Group Plc now owns 14,305 shares of the pipeline company’s stock worth $118,000 after acquiring an additional 12,163 shares during the last quarter. Gagnon Securities LLC bought a new stake in shares of Franks International in the 3rd quarter worth about $124,000. M&T Bank Corp bought a new stake in shares of Franks International in the 2nd quarter worth about $138,000. Finally, Voya Investment Management LLC lifted its holdings in shares of Franks International by 88.4% in the 2nd quarter. Voya Investment Management LLC now owns 21,717 shares of the pipeline company’s stock worth $180,000 after acquiring an additional 10,192 shares during the last quarter. Hedge funds and other institutional investors own 31.48% of the company’s stock.

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Franks International Company Profile

Frank’s International N.V. (FINV) is a provider of engineered tubular services, tubular fabrication and specialty well construction and well intervention solutions to the oil and gas industry. The Company operates through four business segments: International Services, U. S. Services, Tubular Sales and Blackhawk.

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