Keane Group Inc (FRAC) Cut to Hold at BidaskClub

Keane Group Inc (NYSE:FRAC) was downgraded by equities research analysts at BidaskClub from a “buy” rating to a “hold” rating in a note issued to investors on Wednesday.

FRAC has been the topic of several other reports. Zacks Investment Research raised shares of Keane Group from a “hold” rating to a “buy” rating and set a $19.00 price target on the stock in a report on Wednesday, October 4th. Barclays PLC raised shares of Keane Group from an “underweight” rating to an “equal weight” rating in a report on Wednesday, November 8th. Jefferies Group LLC cut their price target on shares of Keane Group from $20.00 to $19.00 and set a “buy” rating on the stock in a report on Friday, November 3rd. Piper Jaffray Companies reiterated a “buy” rating and set a $18.00 price objective on shares of Keane Group in a research note on Tuesday, September 19th. Finally, J P Morgan Chase & Co lifted their price objective on shares of Keane Group from $22.00 to $23.00 and gave the stock an “overweight” rating in a research note on Tuesday, September 12th. Eleven research analysts have rated the stock with a hold rating and ten have given a buy rating to the company. Keane Group has a consensus rating of “Hold” and a consensus price target of $20.68.

Keane Group (FRAC) opened at $14.57 on Wednesday. Keane Group has a 1-year low of $12.42 and a 1-year high of $22.93.

Keane Group (NYSE:FRAC) last released its quarterly earnings results on Wednesday, November 1st. The company reported $0.04 earnings per share (EPS) for the quarter, missing the Thomson Reuters’ consensus estimate of $0.16 by ($0.12). Keane Group had a negative return on equity of 14.38% and a negative net margin of 3.68%. The firm had revenue of $477.30 million during the quarter, compared to analysts’ expectations of $493.40 million. The firm’s quarterly revenue was up 47.7% compared to the same quarter last year.

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A number of institutional investors and hedge funds have recently added to or reduced their stakes in FRAC. Janus Henderson Group PLC increased its holdings in Keane Group by 4,762.9% in the second quarter. Janus Henderson Group PLC now owns 4,250,092 shares of the company’s stock valued at $68,001,000 after buying an additional 4,162,694 shares in the last quarter. Vanguard Group Inc. purchased a new position in Keane Group in the first quarter valued at $31,906,000. Point72 Asset Management L.P. increased its holdings in Keane Group by 43.5% in the third quarter. Point72 Asset Management L.P. now owns 2,621,725 shares of the company’s stock valued at $43,730,000 after buying an additional 794,625 shares in the last quarter. Ninepoint Partners LP purchased a new position in Keane Group in the third quarter valued at $12,927,000. Finally, State Street Corp increased its holdings in Keane Group by 153.4% in the second quarter. State Street Corp now owns 1,111,267 shares of the company’s stock valued at $17,782,000 after buying an additional 672,659 shares in the last quarter.

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.

Analyst Recommendations for Keane Group (NYSE:FRAC)

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