Zacks Investment Research upgraded shares of Franks International (NYSE:FI) from a sell rating to a hold rating in a research report report published on Wednesday morning, Zacks.com reports.
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. “
Separately, ValuEngine raised shares of Franks International from a sell rating to a hold rating in a report on Thursday, August 1st.
Shares of NYSE FI traded up $0.05 during mid-day trading on Wednesday, reaching $5.45. The company’s stock had a trading volume of 629,508 shares, compared to its average volume of 662,352. The stock has a 50-day moving average of $4.87 and a two-hundred day moving average of $5.32. The stock has a market capitalization of $1.20 billion, a P/E ratio of -12.98 and a beta of 1.55. The company has a debt-to-equity ratio of 0.03, a quick ratio of 3.36 and a current ratio of 4.00. Franks International has a 1-year low of $3.98 and a 1-year high of $8.46.
Franks International (NYSE:FI) last issued its earnings results on Tuesday, November 5th. The pipeline company reported ($0.08) EPS for the quarter, missing the Zacks’ consensus estimate of ($0.06) by ($0.02). The business had revenue of $140.42 million during the quarter, compared to analyst estimates of $157.87 million. Franks International had a negative net margin of 14.18% and a negative return on equity of 7.91%. Franks International’s quarterly revenue was up 8.9% on a year-over-year basis. During the same quarter last year, the company earned ($0.03) earnings per share. Analysts predict that Franks International will post -0.29 EPS for the current fiscal year.
In related news, Director Steven B. Mosing sold 34,584 shares of the company’s stock in a transaction dated Monday, September 9th. The shares were sold at an average price of $4.81, for a total value of $166,349.04. Following the completion of the sale, the director now owns 1,493,941 shares of the company’s stock, valued at $7,185,856.21. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Also, Director Steven B. Mosing sold 250,000 shares of the company’s stock in a transaction dated Monday, August 26th. The shares were sold at an average price of $4.56, for a total transaction of $1,140,000.00. Following the completion of the sale, the director now directly owns 2,515,206 shares of the company’s stock, valued at approximately $11,469,339.36. The disclosure for this sale can be found here. Insiders sold 2,823,529 shares of company stock valued at $12,561,878 in the last three months. 18.20% of the stock is currently owned by insiders.
Institutional investors and hedge funds have recently made changes to their positions in the stock. Campbell & CO Investment Adviser LLC purchased a new position in Franks International during the second quarter worth about $222,000. Alpine Global Management LLC purchased a new position in Franks International during the second quarter worth about $273,000. CWM Advisors LLC boosted its stake in Franks International by 23.0% during the second quarter. CWM Advisors LLC now owns 33,951 shares of the pipeline company’s stock worth $185,000 after buying an additional 6,344 shares during the period. Fox Run Management L.L.C. purchased a new position in Franks International during the second quarter worth about $94,000. Finally, SeaBridge Investment Advisors LLC boosted its stake in Franks International by 83.9% during the second quarter. SeaBridge Investment Advisors LLC now owns 103,810 shares of the pipeline company’s stock worth $567,000 after buying an additional 47,360 shares during the period. 38.39% of the stock is owned by hedge funds and other institutional investors.
About Franks International
Frank's International N.V. provides various engineered tubular services for the oil and gas exploration and production, and oilfield services companies in the United States, Europe, the Middle East, Africa, Latin America, the Asia Pacific, and internationally. The company operates through four segments: International Services, U.S.
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