FTS International Inc (FTSI) Receives $18.89 Average Price Target from Brokerages
FTS International Inc (NYSE:FTSI) has earned a consensus recommendation of “Buy” from the fourteen brokerages that are presently covering the stock, Marketbeat Ratings reports. One equities research analyst has rated the stock with a sell recommendation, five have issued a hold recommendation and eight have assigned a buy recommendation to the company. The average 1 year price objective among analysts that have updated their coverage on the stock in the last year is $18.89.
Several research firms recently commented on FTSI. Barclays dropped their target price on FTS International from $27.00 to $16.00 and set a “buy” rating for the company in a research note on Thursday, August 2nd. Morgan Stanley dropped their target price on FTS International from $23.00 to $21.00 and set a “buy” rating for the company in a research note on Monday, August 6th. Piper Jaffray Companies set a $19.00 target price on FTS International and gave the company a “buy” rating in a research note on Monday, August 6th. Stifel Nicolaus began coverage on FTS International in a research note on Monday, September 10th. They issued a “hold” rating and a $12.00 target price for the company. Finally, Credit Suisse Group dropped their target price on FTS International from $26.00 to $15.00 and set an “outperform” rating for the company in a research note on Thursday, August 2nd.
Hedge funds have recently bought and sold shares of the business. Citigroup Inc. purchased a new stake in FTS International during the first quarter valued at about $102,000. Sei Investments Co. purchased a new stake in FTS International during the first quarter valued at about $117,000. Bank of Montreal Can grew its position in FTS International by 243.1% during the third quarter. Bank of Montreal Can now owns 14,272 shares of the company’s stock valued at $169,000 after acquiring an additional 10,112 shares during the period. Paloma Partners Management Co purchased a new stake in FTS International during the second quarter valued at about $199,000. Finally, New York State Common Retirement Fund purchased a new stake in FTS International during the first quarter valued at about $226,000. 67.34% of the stock is owned by hedge funds and other institutional investors.
FTS International (NYSE:FTSI) last released its earnings results on Tuesday, July 31st. The company reported $0.95 EPS for the quarter, missing the Thomson Reuters’ consensus estimate of $1.04 by ($0.09). The company had revenue of $493.30 million during the quarter, compared to analysts’ expectations of $528.87 million. On average, sell-side analysts anticipate that FTS International will post 2.87 EPS for the current year.
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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