Keane Group, Inc. (FRAC) Stock Rating Lowered by BidaskClub

Keane Group, Inc. (NYSE:FRAC) was downgraded by analysts at BidaskClub from a “buy” rating to a “hold” rating in a report released on Wednesday.

A number of other equities analysts have also recently weighed in on the company. Citigroup Inc. cut Keane Group from a “buy” rating to a “neutral” rating and dropped their price target for the stock from $19.00 to $14.00 in a research note on Wednesday, August 30th. J P Morgan Chase & Co raised their price objective on Keane Group from $22.00 to $23.00 and gave the stock an “overweight” rating in a research report on Tuesday, September 12th. Capital One Financial Corporation restated an “overweight” rating on shares of Keane Group in a research report on Thursday, July 27th. Jefferies Group LLC assumed coverage on Keane Group in a research report on Thursday, October 5th. They set a “buy” rating and a $20.00 price objective for the company. Finally, Piper Jaffray Companies restated a “buy” rating and set a $18.00 price objective on shares of Keane Group in a research report on Tuesday, September 19th. Eleven analysts have rated the stock with a hold rating and ten have given a buy rating to the company’s stock. The company currently has a consensus rating of “Hold” and a consensus price target of $20.68.

Shares of Keane Group (NYSE FRAC) traded up $0.06 during midday trading on Wednesday, hitting $14.32. 550,500 shares of the company were exchanged, compared to its average volume of 1,142,481. Keane Group has a fifty-two week low of $12.42 and a fifty-two week high of $22.93. The company has a current ratio of 1.41, a quick ratio of 1.26 and a debt-to-equity ratio of 0.60.

Keane Group (NYSE:FRAC) last released its earnings results on Wednesday, November 1st. The company reported $0.04 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.16 by ($0.12). The firm had revenue of $477.30 million for the quarter, compared to analyst estimates of $493.40 million. Keane Group had a negative return on equity of 19.19% and a negative net margin of 9.90%. The firm’s quarterly revenue was up 47.7% compared to the same quarter last year. analysts predict that Keane Group will post 0.1 earnings per share for the current fiscal year.

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A number of hedge funds and other institutional investors have recently modified their holdings of the business. Point72 Asset Management L.P. increased its position in Keane Group by 43.5% in the 3rd quarter. Point72 Asset Management L.P. now owns 2,621,725 shares of the company’s stock worth $43,730,000 after buying an additional 794,625 shares during the period. Gagnon Securities LLC increased its position in shares of Keane Group by 21.0% during the third quarter. Gagnon Securities LLC now owns 41,279 shares of the company’s stock valued at $689,000 after purchasing an additional 7,162 shares during the period. Janus Henderson Group PLC increased its position in shares of Keane Group by 9.6% during the third quarter. Janus Henderson Group PLC now owns 4,658,292 shares of the company’s stock valued at $77,700,000 after purchasing an additional 408,200 shares during the period. Boothbay Fund Management LLC bought a new stake in shares of Keane Group during the third quarter valued at approximately $173,000. Finally, Cramer Rosenthal Mcglynn LLC increased its position in shares of Keane Group by 3.2% during the third quarter. Cramer Rosenthal Mcglynn LLC now owns 968,375 shares of the company’s stock valued at $16,152,000 after purchasing an additional 30,085 shares during the period. 38.32% of the stock is currently owned by institutional investors.

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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