FTS International (FTSI) Upgraded by Zacks Investment Research to Hold

Zacks Investment Research upgraded shares of FTS International (NYSE:FTSI) from a strong sell rating to a hold rating in a research note released on Thursday.

According to Zacks, “FTS International Inc. provider of hydraulic fracturing service primarily in North America. The company’s services enhance hydrocarbon flow from oil and natural gas wells drilled by exploration and production, companies in shale and other unconventional resource formations. FTS International Inc. is based in Cisco, Texas. “

A number of other brokerages also recently commented on FTSI. Wells Fargo & Co reissued a buy rating on shares of FTS International in a research note on Sunday, January 6th. Bank of America reissued a buy rating and issued a $12.00 price objective (down previously from $17.00) on shares of FTS International in a research note on Monday, December 3rd. Credit Suisse Group downgraded shares of FTS International from an outperform rating to a neutral rating and reduced their price objective for the stock from $15.00 to $8.00 in a research note on Wednesday, December 19th. Barclays reduced their price objective on shares of FTS International from $16.00 to $14.00 and set a buy rating for the company in a research note on Wednesday, October 31st. Finally, ValuEngine downgraded FTS International from a sell rating to a strong sell rating in a research report on Thursday, November 1st. One analyst has rated the stock with a sell rating, five have given a hold rating and nine have assigned a buy rating to the company. FTS International currently has an average rating of Buy and an average target price of $16.55.

Shares of NYSE FTSI traded down $0.36 during trading hours on Thursday, reaching $7.30. The stock had a trading volume of 8,527 shares, compared to its average volume of 816,324. The company has a debt-to-equity ratio of 7.50, a quick ratio of 2.33 and a current ratio of 2.72. The firm has a market capitalization of $806.13 million and a price-to-earnings ratio of 0.96. FTS International has a 52-week low of $5.96 and a 52-week high of $22.60.

FTS International (NYSE:FTSI) last announced its quarterly earnings results on Monday, October 29th. The company reported $0.45 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.61 by ($0.16). The firm had revenue of $334.40 million during the quarter, compared to analysts’ expectations of $388.24 million. FTS International had a net margin of 14.98% and a negative return on equity of 139.46%. The company’s revenue for the quarter was down 25.5% compared to the same quarter last year. Analysts forecast that FTS International will post 2.38 earnings per share for the current year.

Hedge funds have recently modified their holdings of the company. Legal & General Group Plc increased its position in shares of FTS International by 42.5% in the 3rd quarter. Legal & General Group Plc now owns 4,920 shares of the company’s stock valued at $58,000 after acquiring an additional 1,468 shares during the period. Vanguard Group Inc increased its position in shares of FTS International by 17.5% in the 3rd quarter. Vanguard Group Inc now owns 2,544,516 shares of the company’s stock valued at $30,000,000 after acquiring an additional 379,696 shares during the period. Vanguard Group Inc. increased its position in shares of FTS International by 17.5% in the 3rd quarter. Vanguard Group Inc. now owns 2,544,516 shares of the company’s stock valued at $30,000,000 after acquiring an additional 379,696 shares during the period. TIAA CREF Investment Management LLC increased its position in shares of FTS International by 47.0% in the 3rd quarter. TIAA CREF Investment Management LLC now owns 213,812 shares of the company’s stock valued at $2,521,000 after acquiring an additional 68,364 shares during the period. Finally, Teachers Advisors LLC increased its position in shares of FTS International by 33.2% in the 3rd quarter. Teachers Advisors LLC now owns 172,729 shares of the company’s stock valued at $2,036,000 after acquiring an additional 43,088 shares during the period. 66.71% of the stock is currently owned by institutional investors and hedge funds.

FTS International Company Profile

FTS International, Inc provides hydraulic fracturing services in North America. Its services enhance hydrocarbon flow from oil and natural gas wells drilled by exploration and production companies (E&P), in shale and other unconventional resource formations. The company's wireline services primarily consist of setting plugs between hydraulic fracturing stages, creating perforations within hydraulic fracturing stages, and logging the characteristics of resource formations.

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