Scotiabank Reaffirms “Hold” Rating for Franks International NV (FI)

Scotiabank reaffirmed their hold rating on shares of Franks International NV (NYSE:FI) in a research note issued to investors on Friday. The firm currently has a $12.00 price target on the pipeline company’s stock.

FI has been the topic of a number of other research reports. Piper Jaffray Companies restated a hold rating on shares of Franks International NV in a report on Sunday, October 22nd. Royal Bank Of Canada raised shares of Franks International NV from an underperform rating to an outperform rating and upped their price objective for the stock from $9.00 to $10.00 in a research report on Friday, August 25th. Jefferies Group LLC reduced their price objective on shares of Franks International NV from $8.00 to $7.50 and set a hold rating for the company in a research report on Friday. J P Morgan Chase & Co reduced their price objective on shares of Franks International NV from $9.00 to $7.00 and set a neutral rating for the company in a research report on Tuesday, September 12th. Finally, Capital One Financial Corporation reaffirmed an equal weight rating on shares of Franks International NV in a research report on Monday, August 7th. Four analysts have rated the stock with a sell rating, nine have assigned a hold rating and one has assigned a buy rating to the company. The stock currently has a consensus rating of Hold and an average target price of $8.25.

Shares of Franks International NV (NYSE:FI) opened at $7.06 on Friday.

Franks International NV (NYSE:FI) last posted its earnings results on Thursday, November 2nd. The pipeline company reported ($0.11) earnings per share for the quarter, hitting the Zacks’ consensus estimate of ($0.11). Franks International NV had a net margin of 2.12% and a return on equity of 0.75%. The company had revenue of $108.08 million for the quarter, compared to analyst estimates of $120.42 million. During the same quarter in the prior year, the business posted ($0.14) EPS. The firm’s revenue was up 2.8% compared to the same quarter last year. sell-side analysts predict that Franks International NV will post -0.44 EPS for the current year.

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In other news, major shareholder G. Mosing Family L.L. Kendall sold 1,500,000 shares of the stock in a transaction that occurred on Wednesday, September 20th. The shares were sold at an average price of $7.25, for a total transaction of $10,875,000.00. Following the completion of the transaction, the insider now directly owns 11,724,888 shares of the company’s stock, valued at approximately $85,005,438. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, major shareholder Wbm Partnership, Lp sold 450,000 shares of the stock in a transaction that occurred on Thursday, September 14th. The shares were sold at an average price of $7.49, for a total transaction of $3,370,500.00. Following the transaction, the insider now directly owns 8,653,867 shares of the company’s stock, valued at $64,817,463.83. The disclosure for this sale can be found here. Insiders have sold a total of 4,907,355 shares of company stock valued at $33,779,088 over the last three months. Insiders own 77.90% of the company’s stock.

Several institutional investors have recently added to or reduced their stakes in FI. Citigroup Inc. grew its position in shares of Franks International NV by 726.2% during the 2nd quarter. Citigroup Inc. now owns 12,162 shares of the pipeline company’s stock valued at $101,000 after acquiring an additional 10,690 shares during the period. Legal & General Group Plc boosted its holdings in Franks International NV by 567.8% in the 2nd quarter. Legal & General Group Plc now owns 14,305 shares of the pipeline company’s stock worth $118,000 after buying an additional 12,163 shares during the period. M&T Bank Corp bought a new position in Franks International NV in the 2nd quarter worth approximately $138,000. Voya Investment Management LLC boosted its holdings in Franks International NV by 88.4% in the 2nd quarter. Voya Investment Management LLC now owns 21,717 shares of the pipeline company’s stock worth $180,000 after buying an additional 10,192 shares during the period. Finally, Kelman Lazarov Inc. boosted its holdings in Franks International NV by 115.6% in the 2nd quarter. Kelman Lazarov Inc. now owns 24,250 shares of the pipeline company’s stock worth $201,000 after buying an additional 13,000 shares during the period. 30.30% of the stock is owned by hedge funds and other institutional investors.

About Franks International NV

Frank’s International N.V. (FINV) is a provider of engineered tubular services, tubular fabrication and specialty well construction and well intervention solutions to the oil and gas industry. The Company operates through four business segments: International Services, U. S. Services, Tubular Sales and Blackhawk.

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