Keane Group (NYSE:FRAC) Cut to “Hold” at Zacks Investment Research

Keane Group (NYSE:FRAC) was downgraded by Zacks Investment Research from a “buy” rating to a “hold” rating in a research note issued on Tuesday, Zacks.com reports.

According to Zacks, “Keane Group, Inc. is a provider of integrated well completion services primarily in the U.S. It focuses on complex, technically demanding completion solutions. The company primary service offerings include horizontal and vertical fracturing, wireline perforation and logging and engineered solutions as well as other value-added service offerings. Keane Group, Inc. is headquartered in Houston, Texas. “

A number of other analysts also recently commented on the stock. TheStreet downgraded shares of Keane Group from a “c-” rating to a “d+” rating in a research report on Monday, June 3rd. AltaCorp Capital reiterated a “sector perform” rating on shares of Keane Group in a report on Thursday, June 20th. Finally, ValuEngine upgraded shares of Keane Group from a “sell” rating to a “hold” rating in a report on Thursday, August 1st. Five research analysts have rated the stock with a hold rating and ten have given a buy rating to the stock. The stock presently has an average rating of “Buy” and a consensus price target of $15.77.

Shares of FRAC stock traded down $0.01 during midday trading on Tuesday, reaching $5.31. 1,654,238 shares of the company were exchanged, compared to its average volume of 1,055,981. Keane Group has a 12 month low of $4.96 and a 12 month high of $14.38. The stock has a market capitalization of $561.12 million, a P/E ratio of 5.77 and a beta of 1.29. The business has a 50 day simple moving average of $6.10. The company has a debt-to-equity ratio of 0.79, a quick ratio of 1.44 and a current ratio of 1.56.

Keane Group (NYSE:FRAC) last released its quarterly earnings results on Monday, July 29th. The company reported $0.06 EPS for the quarter, topping analysts’ consensus estimates of ($0.05) by $0.11. Keane Group had a net margin of 0.53% and a return on equity of 7.21%. The company had revenue of $427.70 million for the quarter, compared to the consensus estimate of $413.63 million. During the same period in the previous year, the firm earned $0.28 EPS. Keane Group’s revenue was down 26.1% on a year-over-year basis. Equities research analysts predict that Keane Group will post -0.07 EPS for the current year.

Institutional investors and hedge funds have recently made changes to their positions in the stock. Bank of New York Mellon Corp raised its stake in shares of Keane Group by 76.9% during the 4th quarter. Bank of New York Mellon Corp now owns 374,809 shares of the company’s stock valued at $3,066,000 after buying an additional 162,960 shares during the last quarter. Geode Capital Management LLC grew its position in shares of Keane Group by 4.9% during the 4th quarter. Geode Capital Management LLC now owns 491,097 shares of the company’s stock valued at $4,017,000 after acquiring an additional 23,143 shares during the period. Two Sigma Advisers LP acquired a new stake in shares of Keane Group during the 4th quarter valued at about $164,000. Bank of America Corp DE grew its position in shares of Keane Group by 9.1% during the 4th quarter. Bank of America Corp DE now owns 202,836 shares of the company’s stock valued at $1,660,000 after acquiring an additional 16,910 shares during the period. Finally, Metropolitan Life Insurance Co. NY grew its position in shares of Keane Group by 365.1% during the 4th quarter. Metropolitan Life Insurance Co. NY now owns 18,173 shares of the company’s stock valued at $149,000 after acquiring an additional 14,266 shares during the period. 88.37% of the stock is currently owned by hedge funds and other institutional investors.

Keane Group Company Profile

Keane Group, Inc engages in the provision of hydraulic and engineered related solutions. It provides horizontal and vertical fracturing, wireline perforation and logging & engineered, as well as other value-added services. The company operates through two segments: Completion, and Other Services. The Completion Services segment refers to the hydraulic fracturing and wireline divisions.

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