Bank of America downgraded shares of Propetro (NYSE:PUMP) from a buy rating to a neutral rating in a research note published on Tuesday morning, Stock Target Advisor reports.
Other analysts also recently issued research reports about the stock. Royal Bank of Canada reissued a buy rating and set a $24.00 price target on shares of Propetro in a research report on Thursday, February 28th. Goldman Sachs Group started coverage on shares of Propetro in a research report on Sunday, March 10th. They set a buy rating and a $28.00 price target for the company. Credit Suisse Group raised their price target on shares of Propetro from $19.00 to $22.00 and gave the stock an outperform rating in a research report on Thursday, February 28th. Cowen reissued a buy rating and set a $28.00 price target on shares of Propetro in a research report on Thursday, February 28th. Finally, ValuEngine raised shares of Propetro from a sell rating to a hold rating in a research report on Monday, February 11th. Two research analysts have rated the stock with a hold rating and six have issued a buy rating to the stock. Propetro has an average rating of Buy and a consensus target price of $25.40.
NYSE PUMP opened at $24.32 on Tuesday. Propetro has a one year low of $11.27 and a one year high of $24.50. The company has a debt-to-equity ratio of 0.09, a quick ratio of 0.97 and a current ratio of 0.99. The company has a market capitalization of $2.40 billion, a P/E ratio of 12.16, a price-to-earnings-growth ratio of 0.66 and a beta of 1.85.
Propetro (NYSE:PUMP) last posted its quarterly earnings results on Tuesday, February 26th. The company reported $0.59 EPS for the quarter, beating the Thomson Reuters’ consensus estimate of $0.53 by $0.06. Propetro had a net margin of 10.20% and a return on equity of 30.52%. The firm had revenue of $425.41 million for the quarter, compared to analyst estimates of $424.47 million. Equities research analysts predict that Propetro will post 2.42 EPS for the current year.
Propetro Company Profile
ProPetro Holding Corp., an oilfield services company, provides pressure pumping and other related services. The company offers hydraulic fracturing services; and a suite of well completion and production services, including cementing, acidizing, coiled tubing, flowback, surface air drilling, and drilling services.
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