Franks International (FI) Stock Rating Upgraded by Zacks Investment Research
Franks International (NYSE:FI) was upgraded by Zacks Investment Research from a “hold” rating to a “strong-buy” rating in a report issued on Friday. The brokerage currently has a $9.00 price objective on the pipeline company’s stock. Zacks Investment Research‘s target price would suggest a potential upside of 16.43% from the stock’s current price.
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. “
FI has been the topic of a number of other reports. UBS Group increased their price objective on shares of Franks International from $4.50 to $7.00 and gave the stock a “sell” rating in a research note on Friday, August 10th. Tudor Pickering downgraded shares of Franks International from a “buy” rating to a “hold” rating in a research note on Tuesday, August 28th. ValuEngine upgraded shares of Franks International from a “hold” rating to a “buy” rating in a research note on Monday, July 30th. Piper Jaffray Companies reiterated a “hold” rating and set a $6.75 price objective on shares of Franks International in a research note on Friday, July 20th. Finally, Seaport Global Securities set a $8.00 price objective on shares of Franks International and gave the stock a “hold” rating in a research note on Thursday, August 9th. One analyst has rated the stock with a sell rating, six have given a hold rating, two have assigned a buy rating and one has given a strong buy rating to the company’s stock. The company presently has a consensus rating of “Hold” and a consensus price target of $8.29.
Franks International (NYSE:FI) last released its quarterly earnings results on Tuesday, November 6th. The pipeline company reported ($0.05) EPS for the quarter, topping analysts’ consensus estimates of ($0.10) by $0.05. Franks International had a negative net margin of 37.17% and a negative return on equity of 12.75%. The business had revenue of $129.00 million for the quarter, compared to analyst estimates of $126.82 million. During the same period last year, the firm earned ($0.11) earnings per share. Franks International’s revenue for the quarter was up 19.3% compared to the same quarter last year. On average, analysts anticipate that Franks International will post -0.45 EPS for the current year.
In other news, major shareholder William Bradford Mosing sold 227,364 shares of the firm’s stock in a transaction that occurred on Tuesday, September 11th. The shares were sold at an average price of $8.36, for a total value of $1,900,763.04. Following the sale, the insider now directly owns 2,240,595 shares in the company, valued at approximately $18,731,374.20. The transaction was disclosed in a filing with the SEC, which is available at the SEC website. Also, major shareholder Kendall Garrett Mosing sold 3,361,094 shares of the firm’s stock in a transaction that occurred on Thursday, August 16th. The shares were sold at an average price of $7.95, for a total transaction of $26,720,697.30. The disclosure for this sale can be found here. Over the last 90 days, insiders sold 5,591,560 shares of company stock worth $45,728,414. 67.60% of the stock is currently owned by corporate insiders.
Institutional investors and hedge funds have recently bought and sold shares of the company. Schwab Charles Investment Management Inc. boosted its stake in shares of Franks International by 88.9% in the 2nd quarter. Schwab Charles Investment Management Inc. now owns 421,557 shares of the pipeline company’s stock valued at $3,289,000 after purchasing an additional 198,409 shares in the last quarter. Price Capital Management Inc. acquired a new stake in shares of Franks International in the 2nd quarter valued at approximately $770,000. Swiss National Bank boosted its stake in shares of Franks International by 40.4% in the 2nd quarter. Swiss National Bank now owns 136,200 shares of the pipeline company’s stock valued at $1,062,000 after purchasing an additional 39,200 shares in the last quarter. Bank of New York Mellon Corp boosted its position in Franks International by 657.2% during the 2nd quarter. Bank of New York Mellon Corp now owns 2,095,107 shares of the pipeline company’s stock worth $16,342,000 after buying an additional 1,818,428 shares during the period. Finally, Brown Advisory Inc. acquired a new stake in Franks International during the 2nd quarter worth approximately $1,135,000. Institutional investors own 34.11% of the company’s stock.
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.
See Also: Stock Split
For more information about research offerings from Zacks Investment Research, visit Zacks.com
Receive News & Ratings for Franks International Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Franks International and related companies with MarketBeat.com's FREE daily email newsletter.