Wells Fargo & Co Cuts FTS International (NYSE:FTSI) Price Target to $3.00

FTS International (NYSE:FTSI) had its target price trimmed by Wells Fargo & Co from $4.00 to $3.00 in a research report report published on Thursday, BenzingaRatingsTable reports. The firm currently has a market perform rating on the stock.

FTSI has been the subject of a number of other research reports. Morgan Stanley dropped their target price on shares of FTS International from $13.00 to $9.00 and set an overweight rating for the company in a research report on Friday, July 12th. Cowen lowered shares of FTS International from an outperform rating to a market perform rating in a research report on Thursday. Bank of America lowered shares of FTS International from a buy rating to a neutral rating and dropped their target price for the stock from $7.00 to $6.25 in a research report on Wednesday, July 10th. Piper Jaffray Companies lowered shares of FTS International from an overweight rating to a neutral rating and dropped their target price for the stock from $9.25 to $6.00 in a research report on Tuesday, June 25th. Finally, Zacks Investment Research lowered shares of FTS International from a hold rating to a sell rating in a research report on Wednesday, July 3rd. Two analysts have rated the stock with a sell rating, nine have assigned a hold rating and one has issued a buy rating to the company’s stock. The company currently has an average rating of Hold and a consensus target price of $8.25.

Shares of NYSE:FTSI traded down $0.02 during midday trading on Thursday, reaching $3.02. 22,165 shares of the company were exchanged, compared to its average volume of 585,202. The company has a current ratio of 2.95, a quick ratio of 2.49 and a debt-to-equity ratio of 8.49. The business’s fifty day moving average is $3.09 and its two-hundred day moving average is $6.90. FTS International has a one year low of $2.32 and a one year high of $13.65. The stock has a market cap of $378.34 million, a PE ratio of 1.28, a price-to-earnings-growth ratio of 4.05 and a beta of 1.71.

FTS International (NYSE:FTSI) last issued its earnings results on Tuesday, July 30th. The company reported $0.05 earnings per share for the quarter, missing the Zacks’ consensus estimate of $0.10 by ($0.05). FTS International had a return on equity of 130.74% and a net margin of 2.62%. The company had revenue of $225.80 million for the quarter, compared to the consensus estimate of $236.09 million. During the same quarter in the prior year, the company posted $0.95 EPS. FTS International’s revenue was down 54.2% compared to the same quarter last year. As a group, sell-side analysts expect that FTS International will post 0.14 EPS for the current year.

A number of hedge funds have recently added to or reduced their stakes in the business. Vanguard Group Inc. lifted its position in FTS International by 6.3% during the second quarter. Vanguard Group Inc. now owns 3,217,124 shares of the company’s stock valued at $17,951,000 after purchasing an additional 191,516 shares during the last quarter. BlackRock Inc. lifted its position in FTS International by 6.0% during the second quarter. BlackRock Inc. now owns 2,318,616 shares of the company’s stock valued at $12,938,000 after purchasing an additional 131,915 shares during the last quarter. JPMorgan Chase & Co. lifted its position in FTS International by 20.7% during the second quarter. JPMorgan Chase & Co. now owns 2,207,850 shares of the company’s stock valued at $12,674,000 after purchasing an additional 378,516 shares during the last quarter. Bank of New York Mellon Corp lifted its position in FTS International by 3.6% during the second quarter. Bank of New York Mellon Corp now owns 804,914 shares of the company’s stock valued at $4,492,000 after purchasing an additional 27,803 shares during the last quarter. Finally, Northern Trust Corp lifted its position in FTS International by 4.1% during the second quarter. Northern Trust Corp now owns 415,583 shares of the company’s stock valued at $2,320,000 after purchasing an additional 16,458 shares during the last quarter. Institutional investors and hedge funds own 63.15% of the company’s stock.

About FTS International

FTS International, Inc provides hydraulic fracturing services in North America. Its services enhance hydrocarbon flow from oil and natural gas wells drilled by exploration and production companies (E&P), in shale and other unconventional resource formations. The company's wireline services primarily consist of setting plugs between hydraulic fracturing stages, creating perforations within hydraulic fracturing stages, and logging the characteristics of resource formations.

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Analyst Recommendations for FTS International (NYSE:FTSI)

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