Ranger Energy Services (NYSE:RNGR) Upgraded at Credit Suisse Group

Ranger Energy Services (NYSE:RNGR) was upgraded by analysts at Credit Suisse Group from a “neutral” rating to an “outperform” rating in a report released on Tuesday, MarketBeat Ratings reports. The firm currently has a $8.00 target price on the stock, up from their prior target price of $7.00. Credit Suisse Group’s price target suggests a potential upside of 11.27% from the company’s previous close.

Other research analysts also recently issued research reports about the company. Barclays set a $7.00 price objective on Ranger Energy Services and gave the company a “buy” rating in a report on Friday, October 25th. Zacks Investment Research downgraded Ranger Energy Services from a “hold” rating to a “sell” rating in a report on Friday, September 6th. Wells Fargo & Co dropped their price target on Ranger Energy Services from $10.00 to $9.00 and set an “outperform” rating on the stock in a research note on Thursday, September 12th. Finally, ValuEngine downgraded Ranger Energy Services from a “hold” rating to a “sell” rating in a research note on Thursday, November 28th. Two equities research analysts have rated the stock with a sell rating, one has assigned a hold rating and three have issued a buy rating to the stock. The stock has a consensus rating of “Hold” and a consensus target price of $8.19.

RNGR opened at $7.19 on Tuesday. Ranger Energy Services has a one year low of $4.70 and a one year high of $8.76. The company has a market cap of $114.65 million, a P/E ratio of 15.98 and a beta of 3.38. The company has a debt-to-equity ratio of 0.23, a quick ratio of 1.12 and a current ratio of 1.16. The business’s 50-day simple moving average is $6.03 and its 200-day simple moving average is $6.49.

Ranger Energy Services (NYSE:RNGR) last released its quarterly earnings data on Thursday, October 24th. The company reported ($0.06) EPS for the quarter, missing analysts’ consensus estimates of $0.19 by ($0.25). Ranger Energy Services had a net margin of 1.02% and a return on equity of 1.77%. The business had revenue of $84.10 million during the quarter, compared to analysts’ expectations of $89.65 million. As a group, analysts predict that Ranger Energy Services will post 0.28 earnings per share for the current fiscal year.

A number of large investors have recently added to or reduced their stakes in the stock. Creative Planning purchased a new position in Ranger Energy Services during the 2nd quarter worth approximately $132,000. BlackRock Inc. grew its stake in Ranger Energy Services by 15.5% during the 2nd quarter. BlackRock Inc. now owns 14,358 shares of the company’s stock worth $115,000 after buying an additional 1,928 shares during the last quarter. Royal Bank of Canada grew its stake in Ranger Energy Services by 250,000.0% during the 2nd quarter. Royal Bank of Canada now owns 7,503 shares of the company’s stock worth $60,000 after buying an additional 7,500 shares during the last quarter. Finally, Private Capital Group LLC purchased a new position in Ranger Energy Services during the 2nd quarter worth approximately $32,000. Hedge funds and other institutional investors own 26.78% of the company’s stock.

Ranger Energy Services Company Profile

Ranger Energy Services, Inc provides well service rigs and related services in the United States. It operates through three segments: High Specification Rigs, Completion and Other Services, and Processing Solutions. The company offers well completion support services, such as milling out composite plugs used during hydraulic fracturing, wireline, and snubbing services; 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.

Read More: What is diluted earnings per share (Diluted EPS)?

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