Franks International (FI) Upgraded to Strong-Buy at Zacks Investment Research
Zacks Investment Research upgraded shares of Franks International (NYSE:FI) from a hold rating to a strong-buy rating in a report issued on Friday morning. Zacks Investment Research currently has $9.00 price target on the pipeline company’s stock.
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. “
FI has been the subject of several other reports. ValuEngine upgraded Franks International from a hold rating to a buy rating in a research report on Monday, July 30th. Piper Jaffray Companies set a $7.00 price objective on Franks International and gave the stock a hold rating in a research report on Thursday. Tudor Pickering downgraded Franks International from a buy rating to a hold rating in a research report on Tuesday, August 28th. Jefferies Financial Group restated a hold rating and set a $7.00 price objective on shares of Franks International in a research report on Friday, July 13th. Finally, Barclays restated a hold rating and set a $7.00 price objective on shares of Franks International in a research report on Monday, August 13th. One analyst has rated the stock with a sell rating, six have given a hold rating, two have issued a buy rating and one has issued a strong buy rating to the company. Franks International has a consensus rating of Hold and a consensus price target of $8.29.
Franks International (NYSE:FI) last posted its quarterly earnings results on Tuesday, November 6th. The pipeline company reported ($0.05) earnings per share (EPS) for the quarter, beating the Zacks’ consensus estimate of ($0.10) by $0.05. Franks International had a negative net margin of 37.17% and a negative return on equity of 12.75%. The company had revenue of $129.00 million during the quarter, compared to the consensus estimate of $126.82 million. During the same period last year, the firm earned ($0.11) EPS. The company’s revenue for the quarter was up 19.3% on a year-over-year basis. As a group, equities research analysts expect that Franks International will post -0.45 earnings per share for the current year.
In other Franks International news, major shareholder Melanie Christine Mosing sold 200,000 shares of Franks International stock in a transaction that occurred on Monday, September 24th. The shares were sold at an average price of $8.36, for a total value of $1,672,000.00. Following the completion of the sale, the insider now directly owns 11,340,410 shares of the company’s stock, valued at approximately $94,805,827.60. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, major shareholder Kendall Garrett Mosing sold 3,361,094 shares of Franks International stock in a transaction that occurred on Thursday, August 16th. The stock was sold at an average price of $7.95, for a total transaction of $26,720,697.30. The disclosure for this sale can be found here. Insiders sold a total of 5,591,560 shares of company stock valued at $45,728,414 over the last ninety days. 67.60% of the stock is owned by corporate insiders.
A number of hedge funds have recently added to or reduced their stakes in the business. Bank of New York Mellon Corp grew its stake in shares of Franks International by 31.0% during the 3rd quarter. Bank of New York Mellon Corp now owns 2,743,681 shares of the pipeline company’s stock valued at $23,816,000 after buying an additional 648,574 shares during the period. Massachusetts Financial Services Co. MA grew its stake in shares of Franks International by 2.1% during the 3rd quarter. Massachusetts Financial Services Co. MA now owns 7,128,426 shares of the pipeline company’s stock valued at $61,875,000 after buying an additional 149,021 shares during the period. Northern Trust Corp grew its stake in shares of Franks International by 36.0% during the 2nd quarter. Northern Trust Corp now owns 857,115 shares of the pipeline company’s stock valued at $6,686,000 after buying an additional 226,669 shares during the period. California Public Employees Retirement System grew its stake in shares of Franks International by 71.1% during the 2nd quarter. California Public Employees Retirement System now owns 48,020 shares of the pipeline company’s stock valued at $375,000 after buying an additional 19,951 shares during the period. Finally, Dimensional Fund Advisors LP grew its stake in shares of Franks International by 65.2% during the 2nd quarter. Dimensional Fund Advisors LP now owns 1,450,042 shares of the pipeline company’s stock valued at $11,310,000 after buying an additional 572,032 shares during the period. 34.11% of the stock is owned by hedge funds and other institutional investors.
About Franks International
Frank's International N.V. provides various engineered tubular services for the oil and gas exploration and production, and oilfield services companies in the United States, Europe, the Middle East, Africa, Latin America, the Asia Pacific, and internationally. The company operates through four segments: International Services, U.S.
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