Royal Bank of Canada set a $7.00 price objective on Franks International (NYSE:FI) in a research report released on Thursday, December 21st. The firm currently has a buy rating on the pipeline company’s stock.
A number of other research firms have also recently weighed in on FI. Deutsche Bank initiated coverage on shares of Franks International in a report on Tuesday, October 10th. They issued a hold rating and a $7.00 price target on the stock. JPMorgan Chase & Co. cut shares of Franks International from a neutral rating to an underweight rating and set a $7.00 target price for the company. in a research note on Wednesday, September 27th. Jefferies Group set a $9.00 target price on shares of Franks International and gave the stock a hold rating in a research note on Thursday, October 5th. Zacks Investment Research upgraded shares of Franks International from a sell rating to a hold rating in a research note on Tuesday, November 7th. Finally, Credit Suisse Group cut shares of Franks International from a neutral rating to an underperform rating in a research note on Tuesday, November 7th. Five research analysts have rated the stock with a sell rating, nine have given a hold rating and one has assigned a buy rating to the company. Franks International has an average rating of Hold and a consensus target price of $7.61.
Franks International (NYSE:FI) opened at $7.97 on Thursday. The company has a market cap of $1,720.16, a PE ratio of -15.04 and a beta of 1.10. Franks International has a 12 month low of $5.79 and a 12 month high of $13.00.
Franks International (NYSE:FI) last posted its earnings results on Thursday, November 2nd. The pipeline company reported ($0.11) EPS for the quarter, meeting analysts’ consensus estimates of ($0.11). The business had revenue of $108.08 million for the quarter, compared to the consensus estimate of $120.42 million. Franks International had a negative net margin of 26.21% and a negative return on equity of 9.25%. During the same quarter last year, the firm posted ($0.14) EPS. The company’s revenue for the quarter was up 2.8% on a year-over-year basis. analysts predict that Franks International will post -0.45 earnings per share for the current year.
In other Franks International news, Director D. Keith Mosing sold 350,000 shares of the company’s stock in a transaction dated Monday, November 6th. The shares were sold at an average price of $7.25, for a total value of $2,537,500.00. Following the transaction, the director now owns 446,300 shares of the company’s stock, valued at $3,235,675. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this link. Also, major shareholder Frank Mosing Family L. Michael sold 45,000 shares of the company’s stock in a transaction dated Monday, November 6th. The shares were sold at an average price of $7.28, for a total transaction of $327,600.00. Following the completion of the transaction, the insider now directly owns 9,273,667 shares in the company, valued at approximately $67,512,295.76. The disclosure for this sale can be found here. In the last ninety days, insiders have sold 4,796,592 shares of company stock worth $29,774,337. 77.90% of the stock is currently owned by corporate insiders.
A number of large investors have recently modified their holdings of FI. Citigroup Inc. increased its stake in shares of Franks International by 726.2% during the second quarter. Citigroup Inc. now owns 12,162 shares of the pipeline company’s stock worth $101,000 after buying an additional 10,690 shares during the period. Legal & General Group Plc increased its stake in shares of Franks International by 567.8% during the second quarter. Legal & General Group Plc now owns 14,305 shares of the pipeline company’s stock worth $118,000 after buying an additional 12,163 shares during the period. Gagnon Securities LLC purchased a new stake in shares of Franks International during the third quarter worth approximately $124,000. M&T Bank Corp purchased a new stake in shares of Franks International during the second quarter worth approximately $138,000. Finally, Voya Investment Management LLC increased its stake in shares of Franks International by 88.4% during the second quarter. Voya Investment Management LLC now owns 21,717 shares of the pipeline company’s stock worth $180,000 after buying an additional 10,192 shares during the period. Institutional investors own 31.48% of the company’s stock.
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About Franks International
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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