FTS International (FTSI) Lowered to “Market Perform” at Wells Fargo & Co

FTS International (NYSE:FTSI) was downgraded by analysts at Wells Fargo & Co from an “outperform” rating to a “market perform” rating in a research note issued on Friday. They presently have a $34.00 target price on the stock. Wells Fargo & Co’s price target suggests a potential upside of 140.45% from the company’s previous close.

A number of other research firms have also weighed in on FTSI. Zacks Investment Research lowered shares of FTS International from a “hold” rating to a “sell” rating in a research report on Wednesday, May 2nd. Tudor Pickering initiated coverage on shares of FTS International in a research note on Monday, March 5th. They set a “buy” rating on the stock. Credit Suisse Group reduced their target price on shares of FTS International from $27.00 to $26.00 and set an “outperform” rating on the stock in a research note on Wednesday, May 2nd. Finally, Cowen reaffirmed a “buy” rating and set a $23.00 target price on shares of FTS International in a research note on Friday, April 13th. One analyst has rated the stock with a sell rating, two have issued a hold rating and seven have issued a buy rating to the company’s stock. The company presently has an average rating of “Buy” and an average target price of $29.29.

FTS International opened at $14.14 on Friday, according to Marketbeat. FTS International has a twelve month low of $14.48 and a twelve month high of $22.60. The company has a debt-to-equity ratio of -8.54, a current ratio of 2.45 and a quick ratio of 2.20.

FTS International (NYSE:FTSI) last posted its quarterly earnings results on Tuesday, May 1st. The company reported $5.79 earnings per share for the quarter, topping analysts’ consensus estimates of $0.77 by $5.02. The business had revenue of $467.50 million for the quarter, compared to analyst estimates of $468.00 million. research analysts forecast that FTS International will post 4.29 earnings per share for the current year.

Several institutional investors have recently added to or reduced their stakes in FTSI. Citigroup Inc. purchased a new stake in shares of FTS International in the 1st quarter valued at approximately $102,000. Sei Investments Co. purchased a new stake in shares of FTS International in the 1st quarter valued at approximately $117,000. Oppenheimer Asset Management Inc. purchased a new stake in shares of FTS International in the 1st quarter valued at approximately $199,000. New York State Common Retirement Fund purchased a new stake in shares of FTS International in the 1st quarter valued at approximately $226,000. Finally, Barclays PLC purchased a new stake in shares of FTS International in the 1st quarter valued at approximately $247,000. 64.20% of the stock is currently owned by institutional investors and hedge funds.

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.

Analyst Recommendations for FTS International (NYSE:FTSI)

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