Keane Group Inc (FRAC) Lowered to “Neutral” at Citigroup Inc.
Citigroup Inc. cut shares of Keane Group Inc (NASDAQ:FRAC) from a buy rating to a neutral rating in a research note issued to investors on Wednesday. The brokerage currently has $14.00 price target on the stock.
A number of other research analysts have also recently commented on the company. Scotiabank set a $21.00 price target on Keane Group and gave the company a hold rating in a research note on Thursday, May 4th. Morgan Stanley reiterated an overweight rating and set a $22.00 price target (down from $25.00) on shares of Keane Group in a report on Wednesday, June 21st. Susquehanna Bancshares Inc initiated coverage on Keane Group in a report on Monday, June 5th. They set a neutral rating and a $17.00 price target for the company. Piper Jaffray Companies reiterated a buy rating and set a $16.15 price target (down from $17.00) on shares of Keane Group in a report on Wednesday, July 12th. Finally, Iberia Capital began coverage on Keane Group in a report on Friday, June 23rd. They set an outperform rating and a $19.00 price target for the company. Eight equities research analysts have rated the stock with a hold rating and nine have issued a buy rating to the company. The company presently has a consensus rating of Buy and a consensus price target of $21.07.
Keane Group (FRAC) opened at 12.62 on Wednesday. Keane Group has a 12 month low of $12.42 and a 12 month high of $22.93. The firm has a 50 day moving average price of $14.81 and a 200-day moving average price of $15.54. The firm’s market capitalization is $1.41 billion.
Keane Group (NASDAQ:FRAC) last issued its earnings results on Monday, July 31st. The company reported ($0.01) earnings per share for the quarter, beating the Zacks’ consensus estimate of ($0.07) by $0.06. The firm had revenue of $323.10 million for the quarter, compared to the consensus estimate of $316.71 million. Keane Group had a negative return on equity of 14.38% and a negative net margin of 3.68%. The company’s quarterly revenue was up 34.5% on a year-over-year basis. On average, equities analysts forecast that Keane Group will post $0.10 EPS for the current year.
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A number of large investors have recently made changes to their positions in the company. Janus Henderson Group PLC boosted its stake 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 worth $68,001,000 after buying an additional 4,162,694 shares during the last quarter. Vanguard Group Inc. bought a new stake in shares of Keane Group during the first quarter valued at about $31,906,000. Omega Advisors Inc. bought a new stake in shares of Keane Group during the first quarter valued at about $31,293,000. Ameriprise Financial Inc. bought a new stake in shares of Keane Group during the first quarter valued at about $28,518,000. Finally, Point72 Asset Management L.P. bought a new stake in shares of Keane Group during the first quarter valued at about $26,731,000.
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.
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