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

Zacks Investment Research upgraded shares of Franks International (NYSE:FI) from a hold rating to a buy rating in a report released on Wednesday morning. Zacks Investment Research currently has $7.75 target price 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 research analysts have also recently weighed in on FI. Seaport Global Securities set a $8.00 price objective on Franks International and gave the stock a hold rating in a research report on Thursday, August 9th. UBS Group increased their price objective on Franks International from $4.50 to $7.00 and gave the stock a sell rating in a research report on Friday, August 10th. Piper Jaffray Companies reiterated a hold rating and set a $6.75 price objective on shares of Franks International in a research report on Friday, July 20th. Barclays reiterated a hold rating and set a $7.00 price objective on shares of Franks International in a research report on Monday, August 13th. Finally, Jefferies Financial Group reiterated a hold rating and set a $7.00 price objective on shares of Franks International in a research report on Friday, July 13th. Two investment analysts have rated the stock with a sell rating, six have issued a hold rating and three have given a buy rating to the company. The company has an average rating of Hold and an average price target of $8.07.

FI stock traded up $0.09 during trading hours on Wednesday, hitting $7.17. 425,580 shares of the stock were exchanged, compared to its average volume of 575,115. Franks International has a 12 month low of $4.93 and a 12 month high of $9.75.

Franks International (NYSE:FI) last posted its quarterly earnings data on Wednesday, August 8th. The pipeline company reported ($0.12) earnings per share for the quarter, hitting the consensus estimate of ($0.12). The firm had revenue of $132.09 million for 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 company’s quarterly revenue was up 12.3% compared to the same quarter last year. During the same quarter last year, the business earned ($0.12) EPS. As a group, equities analysts expect that Franks International will post -0.47 EPS for the current fiscal year.

In other news, major shareholder By-Pass Corporate Stock Trust sold 97,863 shares of the stock in a transaction on Friday, August 31st. The stock was sold at an average price of $8.77, for a total transaction of $858,258.51. Following the sale, the insider now directly owns 2,367,959 shares of the company’s stock, valued at approximately $20,767,000.43. The transaction was disclosed in a legal filing with the SEC, which is accessible through the SEC website. Also, major shareholder Melanie Christine Mosing sold 200,000 shares of the stock in a transaction on Monday, September 24th. The stock was sold at an average price of $8.36, for a total value of $1,672,000.00. Following the sale, the insider now directly owns 11,340,410 shares in the company, valued at $94,805,827.60. The disclosure for this sale can be found here. Over the last three months, insiders have sold 5,717,862 shares of company stock worth $46,849,937. 67.60% of the stock is currently owned by insiders.

Several institutional investors and hedge funds have recently added to or reduced their stakes in the company. Massachusetts Financial Services Co. MA grew its holdings 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 worth $61,875,000 after purchasing an additional 149,021 shares in the last quarter. BlackRock Inc. boosted its stake in Franks International by 28.7% in the second quarter. BlackRock Inc. now owns 5,376,225 shares of the pipeline company’s stock valued at $41,935,000 after buying an additional 1,198,413 shares in the last quarter. Bank of New York Mellon Corp boosted its stake in Franks International by 657.2% in the second quarter. Bank of New York Mellon Corp now owns 2,095,107 shares of the pipeline company’s stock valued at $16,342,000 after buying an additional 1,818,428 shares in the last quarter. Wedge Capital Management L L P NC boosted its stake in Franks International by 22.6% in the second quarter. Wedge Capital Management L L P NC now owns 1,647,862 shares of the pipeline company’s stock valued at $12,853,000 after buying an additional 304,158 shares in the last quarter. Finally, Dimensional Fund Advisors LP boosted its stake in Franks International by 65.2% in the second 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 in the last quarter. 34.09% of the stock is currently owned by 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.

Recommended Story: Find a Trading Strategy That Works

Get a free copy of the Zacks research report on Franks International (FI)

For more information about research offerings from Zacks Investment Research, visit Zacks.com

Analyst Recommendations for Franks International (NYSE:FI)

Receive News & Ratings for Franks International Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Franks International and related companies with MarketBeat.com's FREE daily email newsletter.

Leave a Reply