Bank of America Initiates Coverage on Keane Group (FRAC)

Research analysts at Bank of America initiated coverage on shares of Keane Group (NYSE:FRAC) in a research note issued to investors on Wednesday, MarketBeat Ratings reports. The brokerage set a “buy” rating on the stock.

Several other brokerages have also commented on FRAC. ValuEngine upgraded shares of Keane Group from a “sell” rating to a “hold” rating in a report on Friday, August 10th. Zacks Investment Research upgraded shares of Keane Group from a “sell” rating to a “hold” rating in a report on Thursday, August 2nd. Capital One Financial restated an “overweight” rating on shares of Keane Group in a report on Tuesday, July 31st. Jefferies Financial Group set a $18.00 price objective on shares of Keane Group and gave the stock a “buy” rating in a report on Tuesday, July 31st. Finally, Citigroup upped their price objective on shares of Keane Group from $16.00 to $17.00 and gave the stock a “buy” rating in a report on Friday, August 10th. Two research analysts have rated the stock with a sell rating, three have given a hold rating and sixteen have given a buy rating to the company’s stock. Keane Group presently has a consensus rating of “Buy” and a consensus target price of $19.79.

NYSE:FRAC opened at $12.21 on Wednesday. The company has a current ratio of 1.68, a quick ratio of 1.51 and a debt-to-equity ratio of 0.68. The stock has a market capitalization of $1.36 billion, a price-to-earnings ratio of 76.81, a PEG ratio of 0.32 and a beta of -0.54. Keane Group has a 1-year low of $10.12 and a 1-year high of $19.83.

Keane Group (NYSE:FRAC) last issued its quarterly earnings data on Monday, July 30th. The company reported $0.35 EPS for the quarter, topping the consensus estimate of $0.29 by $0.06. Keane Group had a net margin of 3.40% and a return on equity of 20.43%. The firm had revenue of $578.50 million for the quarter, compared to analyst estimates of $558.88 million. During the same period in the prior year, the business posted ($0.11) EPS. The business’s revenue for the quarter was up 79.0% compared to the same quarter last year. Equities analysts expect that Keane Group will post 0.97 EPS for the current fiscal year.

Institutional investors and hedge funds have recently made changes to their positions in the stock. Meeder Asset Management Inc. increased its stake in Keane Group by 439.9% during the 2nd quarter. Meeder Asset Management Inc. now owns 7,996 shares of the company’s stock worth $109,000 after buying an additional 6,515 shares during the period. Teacher Retirement System of Texas purchased a new stake in Keane Group during the 2nd quarter worth approximately $140,000. OppenheimerFunds Inc. purchased a new stake in Keane Group during the 1st quarter worth approximately $148,000. Verition Fund Management LLC purchased a new stake in Keane Group during the 2nd quarter worth approximately $148,000. Finally, Cubist Systematic Strategies LLC increased its stake in Keane Group by 638.3% during the 1st quarter. Cubist Systematic Strategies LLC now owns 12,574 shares of the company’s stock worth $186,000 after buying an additional 10,871 shares during the period. 86.98% of the stock is currently owned by hedge funds and other institutional investors.

About Keane Group

Keane Group, Inc provides integrated well completion services primarily in the United States. Its principal service offerings include horizontal and vertical fracturing, wireline perforation and logging, and engineered solutions, as well as other value-added services. The company also provides cementing and drilling services; and engineering software and technical guidance for remedial cementing applications and acidizing.

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Analyst Recommendations for Keane Group (NYSE:FRAC)

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