Keane Group (NYSE:FRAC) Downgraded by Zacks Investment Research

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Zacks Investment Research downgraded shares of Keane Group (NYSE:FRAC) from a buy rating to a hold rating in a report released on Tuesday morning, 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. “

Several other research firms have also weighed in on FRAC. ValuEngine upgraded Keane Group from a sell rating to a hold rating in a research note on Thursday, August 1st. TheStreet lowered Keane Group from a c- rating to a d+ rating in a research note on Monday, June 3rd. Finally, AltaCorp Capital reiterated a sector perform rating on shares of Keane Group in a research note on Thursday, June 20th. Five analysts have rated the stock with a hold rating and ten have assigned a buy rating to the company. The stock presently has an average rating of Buy and an average target price of $15.77.

FRAC stock opened at $5.31 on Tuesday. Keane Group has a 1-year low of $4.96 and a 1-year high of $14.38. The company has a market cap of $561.12 million, a price-to-earnings ratio of 5.77 and a beta of 1.29. The firm has a 50 day 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 data on Monday, July 29th. The company reported $0.06 earnings per share for the quarter, beating the consensus estimate of ($0.05) by $0.11. Keane Group had a return on equity of 7.21% and a net margin of 0.53%. The company had revenue of $427.70 million for the quarter, compared to analyst estimates of $413.63 million. During the same period in the prior year, the company posted $0.28 EPS. The company’s revenue was down 26.1% compared to the same quarter last year. On average, research analysts expect that Keane Group will post -0.07 earnings per share for the current fiscal year.

Several institutional investors and hedge funds have recently made changes to their positions in FRAC. Envestnet Asset Management Inc. acquired a new position in Keane Group during the 2nd quarter worth $68,000. Legal & General Group Plc lifted its holdings in Keane Group by 11.2% during the 4th quarter. Legal & General Group Plc now owns 9,769 shares of the company’s stock worth $80,000 after buying an additional 986 shares in the last quarter. Aperio Group LLC acquired a new position in Keane Group during the 2nd quarter worth $81,000. Bbva USA Bancshares Inc. lifted its holdings in Keane Group by 22.6% during the 2nd quarter. Bbva USA Bancshares Inc. now owns 18,425 shares of the company’s stock worth $124,000 after buying an additional 3,400 shares in the last quarter. Finally, WINTON GROUP Ltd acquired a new position in Keane Group during the 2nd quarter worth $125,000. 88.37% of the stock is currently owned by institutional investors and hedge funds.

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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