Keane Group (FRAC) Raised to Buy at Zacks Investment Research

Zacks Investment Research upgraded shares of Keane Group (NYSE:FRAC) from a hold rating to a buy rating in a research report report published on Monday. The firm currently has $21.00 price target on the stock.

According to Zacks, “Keane Group, Inc. is a provider of integrated well completion services primarily in the U.S. It focuses on complex, technically demanding completion solutions. The company primary service offerings include horizontal and vertical fracturing, wireline perforation and logging and engineered solutions as well as other value-added service offerings. Keane Group, Inc. is headquartered in Houston, Texas. “

Other equities research analysts have also recently issued reports about the company. BidaskClub cut Keane Group from a strong-buy rating to a buy rating in a report on Wednesday, October 18th. Jefferies Group started coverage on Keane Group in a report on Thursday, October 5th. They set a buy rating and a $20.00 target price for the company. Piper Jaffray Companies restated a buy rating and set a $18.00 target price on shares of Keane Group in a report on Tuesday, September 19th. Barclays upgraded Keane Group from an underweight rating to an equal weight rating in a report on Wednesday, November 8th. Finally, Citigroup set a $18.00 target price on Keane Group and gave the company a hold rating in a report on Thursday, October 5th. Ten equities research analysts have rated the stock with a hold rating and twelve have given a buy rating to the stock. Keane Group currently has an average rating of Buy and an average price target of $21.20.

Shares of Keane Group (NYSE:FRAC) traded up $0.74 during mid-day trading on Monday, reaching $19.50. The company had a trading volume of 1,677,269 shares, compared to its average volume of 1,070,746. The stock has a market cap of $2,170.00 and a PE ratio of -15.98. Keane Group has a 52 week low of $12.42 and a 52 week high of $22.93. The company has a debt-to-equity ratio of 0.60, a current ratio of 1.41 and a quick ratio of 1.26.

Keane Group (NYSE:FRAC) last issued its earnings results on Wednesday, November 1st. The company reported $0.04 earnings per share for the quarter, missing the consensus estimate of $0.16 by ($0.12). The company had revenue of $477.30 million for the quarter, compared to analysts’ expectations of $493.40 million. Keane Group had a negative net margin of 9.90% and a negative return on equity of 19.19%. The business’s revenue was up 47.7% on a year-over-year basis. research analysts anticipate that Keane Group will post 0.1 EPS for the current fiscal year.

Hedge funds and other institutional investors have recently added to or reduced their stakes in the business. Legal & General Group Plc lifted its holdings in Keane Group by 64.2% in the 2nd quarter. Legal & General Group Plc now owns 7,638 shares of the company’s stock worth $120,000 after buying an additional 2,985 shares during the period. Quantbot Technologies LP purchased a new stake in Keane Group in the 3rd quarter worth approximately $121,000. Boothbay Fund Management LLC purchased a new stake in Keane Group in the 3rd quarter worth approximately $173,000. Parametric Portfolio Associates LLC purchased a new stake in Keane Group in the 2nd quarter worth approximately $179,000. Finally, Advisors Asset Management Inc. lifted its holdings in Keane Group by 566.6% in the 3rd quarter. Advisors Asset Management Inc. now owns 10,972 shares of the company’s stock worth $183,000 after buying an additional 9,326 shares during the period. Institutional investors and hedge funds own 38.30% of the company’s stock.

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About Keane Group

Keane Group, Inc is provider of integrated well completion services in the United States, with a focus on demanding completion solutions. The Company’s segments include Completion Services, which comprises hydraulic fracturing and wireline divisions, and Other Services, which consists of coiled tubing, cementing and drilling divisions.

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