Franks International (NYSE:FI) was upgraded by Zacks Investment Research from a “sell” rating to a “hold” rating in a research note issued to investors on Monday, March 12th.
According to Zacks, “Frank’s International N.V. is a provider of engineered tubular services to the oil and gas industry. Its tubular services include the handling and installation of multiple joints of pipe to establish a cased wellbore; and the installation of smaller diameter pipe inside a cased wellbore to provide a conduit for produced oil and gas to reach the surface. The Company provides its services to exploration and production companies in both offshore and onshore environments, with a focus on complex and technically demanding wells. Frank’s International N.V. is based in Amsterdam, the Netherlands. “
A number of other research firms have also recently commented on FI. Seaport Global Securities raised Franks International from a “sell” rating to a “hold” rating in a report on Monday, March 5th. Jefferies Group set a $7.00 price target on Franks International and gave the stock a “hold” rating in a report on Thursday, January 4th. Royal Bank of Canada set a $7.00 target price on Franks International and gave the stock a “buy” rating in a report on Thursday, December 21st. ValuEngine cut Franks International from a “sell” rating to a “strong sell” rating in a report on Friday, February 2nd. Finally, Piper Jaffray set a $5.00 price target on Franks International and gave the company a “hold” rating in a research note on Tuesday, March 6th. Five analysts have rated the stock with a sell rating, nine have issued a hold rating and two have issued a buy rating to the stock. The company has an average rating of “Hold” and an average target price of $7.56.
Franks International (NYSE:FI) last issued its earnings results on Tuesday, February 27th. The pipeline company reported ($0.26) EPS for the quarter, missing the Thomson Reuters’ consensus estimate of ($0.11) by ($0.15). The business had revenue of $118.32 million for the quarter, compared to the consensus estimate of $115.92 million. Franks International had a negative return on equity of 11.22% and a negative net margin of 35.06%. The business’s revenue was up 9.6% compared to the same quarter last year. During the same quarter in the prior year, the firm posted ($0.18) earnings per share. equities research analysts forecast that Franks International will post -0.4 EPS for the current year.
In other Franks International news, major shareholder Michael Frank Mosing sold 200,000 shares of the firm’s stock in a transaction on Friday, March 2nd. The stock was sold at an average price of $5.16, for a total value of $1,032,000.00. Following the completion of the sale, the insider now directly owns 803,735 shares of the company’s stock, valued at $4,147,272.60. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Company insiders own 77.90% of the company’s stock.
Large investors have recently bought and sold shares of the stock. Nationwide Fund Advisors lifted its stake in Franks International by 1.9% during the second quarter. Nationwide Fund Advisors now owns 31,391 shares of the pipeline company’s stock worth $260,000 after purchasing an additional 599 shares during the last quarter. Two Sigma Advisers LP lifted its stake in Franks International by 30.8% during the fourth quarter. Two Sigma Advisers LP now owns 39,900 shares of the pipeline company’s stock worth $265,000 after purchasing an additional 9,400 shares during the last quarter. Voya Investment Management LLC increased its holdings in shares of Franks International by 88.4% in the second 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. UBS Asset Management Americas Inc. increased its holdings in shares of Franks International by 20.4% in the fourth quarter. UBS Asset Management Americas Inc. now owns 61,875 shares of the pipeline company’s stock worth $411,000 after buying an additional 10,500 shares during the period. Finally, MML Investors Services LLC increased its holdings in shares of Franks International by 38.8% in the fourth quarter. MML Investors Services LLC now owns 48,464 shares of the pipeline company’s stock worth $322,000 after buying an additional 13,539 shares during the period. 33.20% of the stock is owned by institutional investors.
WARNING: “Franks International (NYSE:FI) Lifted to “Hold” at Zacks Investment Research” was originally published by BBNS and is the property of of BBNS. If you are viewing this report on another website, it was illegally copied and republished in violation of U.S. and international copyright law. The original version of this report can be accessed at https://baseballnewssource.com/2018/04/06/franks-international-fi-lifted-to-hold-at-zacks-investment-research/2037666.html.
About Franks International
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.
For more information about research offerings from Zacks Investment Research, visit Zacks.com
Receive News & Ratings for Franks International Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Franks International and related companies with MarketBeat.com's FREE daily email newsletter.