Ranger Energy Services (RNGR) Stock Rating Upgraded by Zacks Investment Research

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Ranger Energy Services (NYSE:RNGR) was upgraded by Zacks Investment Research from a “hold” rating to a “buy” rating in a research note issued to investors on Tuesday. The firm presently has a $6.75 price objective on the stock. Zacks Investment Research‘s price target suggests a potential downside of 2.03% from the company’s previous close.

According to Zacks, “Ranger Energy Services Inc. is a provider of well service rigs and services primarily in the United States. It focuses on unconventional horizontal well completion and production operations. Ranger Energy Services Inc. is based in HOUSTON, United States. “

Other analysts have also issued reports about the company. Wells Fargo & Co reduced their price objective on Ranger Energy Services from $9.00 to $8.00 and set a “market perform” rating on the stock in a research note on Thursday, November 8th. B. Riley began coverage on Ranger Energy Services in a research note on Tuesday, November 20th. They issued a “buy” rating and a $10.00 price objective on the stock. Piper Jaffray Companies set a $13.00 price target on Ranger Energy Services and gave the company a “buy” rating in a research note on Wednesday, October 3rd. Finally, ValuEngine lowered Ranger Energy Services from a “sell” rating to a “strong sell” rating in a research note on Wednesday, January 2nd. One research analyst has rated the stock with a sell rating, two have issued a hold rating and three have issued a buy rating to the company’s stock. The company currently has an average rating of “Hold” and an average price target of $9.55.

NYSE RNGR traded up $0.21 during trading hours on Tuesday, hitting $7.10. 1,451 shares of the company were exchanged, compared to its average volume of 2,445. The stock has a market capitalization of $94.30 million, a P/E ratio of -9.10, a PEG ratio of 1.33 and a beta of 2.53. The company has a debt-to-equity ratio of 0.21, a current ratio of 0.84 and a quick ratio of 0.84. Ranger Energy Services has a 52 week low of $4.70 and a 52 week high of $11.39.

Ranger Energy Services (NYSE:RNGR) last released its quarterly earnings data on Tuesday, November 6th. The company reported $0.23 earnings per share for the quarter, beating the consensus estimate of $0.14 by $0.09. The business had revenue of $82.10 million for the quarter, compared to analyst estimates of $79.85 million. Ranger Energy Services had a positive return on equity of 0.14% and a negative net margin of 2.76%. As a group, equities research analysts anticipate that Ranger Energy Services will post 0.28 earnings per share for the current fiscal year.

In other news, Director William M. Austin purchased 10,000 shares of the business’s stock in a transaction dated Tuesday, November 13th. The shares were purchased at an average cost of $8.08 per share, with a total value of $80,800.00. The purchase was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Insiders have bought 15,520 shares of company stock worth $122,350 over the last three months. Insiders own 4.33% of the company’s stock.

Several hedge funds have recently made changes to their positions in the company. B. Riley Financial Inc. boosted its stake in shares of Ranger Energy Services by 61.9% during the third quarter. B. Riley Financial Inc. now owns 876,226 shares of the company’s stock valued at $7,343,000 after purchasing an additional 335,060 shares in the last quarter. FMR LLC lifted its stake in shares of Ranger Energy Services by 1.7% in the third quarter. FMR LLC now owns 781,042 shares of the company’s stock worth $6,545,000 after acquiring an additional 13,415 shares during the period. Royce & Associates LP lifted its stake in shares of Ranger Energy Services by 3.1% in the third quarter. Royce & Associates LP now owns 621,197 shares of the company’s stock worth $5,206,000 after acquiring an additional 18,407 shares during the period. Vanguard Group Inc lifted its stake in shares of Ranger Energy Services by 6.1% in the third quarter. Vanguard Group Inc now owns 256,399 shares of the company’s stock worth $2,148,000 after acquiring an additional 14,832 shares during the period. Finally, Vanguard Group Inc. lifted its stake in shares of Ranger Energy Services by 6.1% in the third quarter. Vanguard Group Inc. now owns 256,399 shares of the company’s stock worth $2,148,000 after acquiring an additional 14,832 shares during the period. 28.78% of the stock is currently owned by hedge funds and other institutional investors.

Ranger Energy Services Company Profile

Ranger Energy Services, Inc provides well service rigs and associated services in the United States. It operates through two segments, Well Services and Processing Solutions. The company offers well completion support srevices, such as milling out composite plugs used during hydraulic fracturing; workover services, including retrieval and replacement of existing production tubing; well maintenance services comprising replacement of downhole artificial lift components; and decommissioning services consisting of plugging and abandonment services.

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