Ranger Energy Services (NYSE:RNGR) Stock Rating Lowered by ValuEngine

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ValuEngine lowered shares of Ranger Energy Services (NYSE:RNGR) from a hold rating to a sell rating in a research report sent to investors on Thursday, ValuEngine reports.

Several other equities analysts have also recently commented on the stock. Barclays set a $7.00 target price on shares of Ranger Energy Services and gave the company a buy rating in a research note on Friday, October 25th. Wells Fargo & Co lowered their target price on shares of 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, Zacks Investment Research lowered shares of Ranger Energy Services from a hold rating to a sell rating in a research note on Friday, September 6th. Two research analysts have rated the stock with a sell rating, two have given a hold rating and two have issued a buy rating to the stock. Ranger Energy Services has a consensus rating of Hold and an average price target of $8.19.

RNGR stock opened at $7.33 on Thursday. The firm’s 50-day simple moving average is $5.91 and its 200 day simple moving average is $6.49. Ranger Energy Services has a fifty-two week low of $4.70 and a fifty-two week high of $8.76. The stock has a market cap of $110.27 million, a PE ratio of 16.29 and a beta of 3.22. The company has a quick ratio of 1.12, a current ratio of 1.16 and a debt-to-equity ratio of 0.23.

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

Hedge funds have recently modified their holdings of the company. BlackRock Inc. increased its position in shares of Ranger Energy Services by 15.5% during the 2nd quarter. BlackRock Inc. now owns 14,358 shares of the company’s stock valued at $115,000 after purchasing an additional 1,928 shares during the period. Private Capital Group LLC acquired a new position in Ranger Energy Services during the second quarter worth about $32,000. Royal Bank of Canada grew its holdings in Ranger Energy Services by 250,000.0% during the second quarter. Royal Bank of Canada now owns 7,503 shares of the company’s stock worth $60,000 after acquiring an additional 7,500 shares during the period. Finally, Creative Planning acquired a new position in Ranger Energy Services during the second quarter worth about $132,000. Institutional investors own 26.78% of the company’s stock.

About Ranger Energy Services

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 are some reasons analysts would give stocks a buy rating?

To view ValuEngine’s full report, visit ValuEngine’s official website.

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