Franks International (FI) Lifted to “Buy” at Zacks Investment Research

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Zacks Investment Research upgraded shares of Franks International (NYSE:FI) from a hold rating to a buy rating in a research note released on Wednesday. They currently have $7.75 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. “

Several other equities analysts have also recently weighed in on the company. Tudor Pickering cut Franks International from a buy rating to a hold rating in a research report on Tuesday, August 28th. Barclays reiterated a hold rating and issued a $7.00 price target on shares of Franks International in a research report on Monday, August 13th. UBS Group lifted their price target on Franks International from $4.50 to $7.00 and gave the company a sell rating in a research report on Friday, August 10th. Royal Bank of Canada reiterated a buy rating and issued a $11.00 price target on shares of Franks International in a research report on Thursday, August 9th. Finally, Seaport Global Securities set a $8.00 price target on Franks International and gave the company a hold rating in a research report on Thursday, August 9th. Two investment analysts have rated the stock with a sell rating, seven have given a hold rating and three have issued a buy rating to the company’s stock. The company currently has an average rating of Hold and a consensus price target of $8.56.

Shares of NYSE FI traded down $0.09 during mid-day trading on Wednesday, hitting $7.01. The company had a trading volume of 10,140 shares, compared to its average volume of 592,270. The stock has a market cap of $1.55 billion, a PE ratio of -11.78 and a beta of 1.20. Franks International has a 1 year low of $4.93 and a 1 year high of $9.75.

Franks International (NYSE:FI) last announced its quarterly earnings results on Wednesday, August 8th. The pipeline company reported ($0.12) earnings per share for the quarter, meeting the Thomson Reuters’ consensus estimate of ($0.12). The company had revenue of $132.09 million during the quarter, compared to analysts’ expectations of $121.91 million. Franks International had a negative return on equity of 13.50% and a negative net margin of 36.85%. The firm’s quarterly revenue was up 12.3% compared to the same quarter last year. During the same period in the previous year, the business earned ($0.12) earnings per share. Analysts predict that Franks International will post -0.47 EPS for the current fiscal year.

In related news, major shareholder Gregory Stanton Mosing sold 25,000 shares of the business’s stock in a transaction dated Wednesday, August 8th. The stock was sold at an average price of $9.00, for a total transaction of $225,000.00. Following the completion of the transaction, the insider now directly owns 20,657 shares in the company, valued at $185,913. The transaction was disclosed in a document filed with the SEC, which is available through this link. Also, major shareholder Kendall Garrett Mosing sold 3,361,094 shares of the business’s stock in a transaction dated Thursday, August 16th. The stock was sold at an average price of $7.95, for a total value of $26,720,697.30. The disclosure for this sale can be found here. Over the last 90 days, insiders have sold 5,717,862 shares of company stock valued at $46,849,937. 67.60% of the stock is owned by company insiders.

Hedge funds have recently modified their holdings of the business. California Public Employees Retirement System lifted its stake in Franks International by 89.7% during the first quarter. California Public Employees Retirement System now owns 28,069 shares of the pipeline company’s stock worth $152,000 after purchasing an additional 13,269 shares during the last quarter. Dynamic Technology Lab Private Ltd bought a new stake in Franks International during the first quarter worth about $230,000. SeaBridge Investment Advisors LLC bought a new stake in Franks International during the second quarter worth about $257,000. Rhumbline Advisers lifted its stake in Franks International by 52.0% during the second quarter. Rhumbline Advisers now owns 70,914 shares of the pipeline company’s stock worth $553,000 after purchasing an additional 24,262 shares during the last quarter. Finally, Price Capital Management Inc. bought a new stake in Franks International during the second quarter worth about $770,000. 34.09% of the stock is owned by hedge funds and other institutional investors.

Franks International Company Profile

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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