Ranger Energy Services (NYSE:RNGR) Downgraded by Zacks Investment Research

Ranger Energy Services (NYSE:RNGR) was downgraded by Zacks Investment Research from a “buy” rating to a “hold” rating in a note issued to investors on Wednesday, Zacks.com reports.

According to Zacks, “Ranger Energy Services Inc. is a provider of well service rigs and services primarily in the United States. It focuses on unconventional horizontal well completion and production operations. Ranger Energy Services Inc. is based in HOUSTON, United States. “

Several other research firms have also recently weighed in on RNGR. Piper Sandler increased their price objective on shares of Ranger Energy Services from $5.00 to $8.00 and gave the stock a “neutral” rating in a research report on Friday, August 20th. Barclays decreased their price objective on shares of Ranger Energy Services from $13.00 to $12.00 and set an “overweight” rating for the company in a research report on Monday, August 9th. Two analysts have rated the stock with a hold rating and three have assigned a buy rating to the stock. According to MarketBeat.com, Ranger Energy Services presently has a consensus rating of “Buy” and an average price target of $9.38.

Shares of NYSE RNGR opened at $9.46 on Wednesday. The company has a debt-to-equity ratio of 0.07, a quick ratio of 1.19 and a current ratio of 1.26. Ranger Energy Services has a 52-week low of $2.27 and a 52-week high of $12.35. The firm has a 50 day moving average price of $8.23 and a two-hundred day moving average price of $7.16. The stock has a market cap of $169.31 million, a P/E ratio of -4.88 and a beta of 2.09.

Ranger Energy Services (NYSE:RNGR) last announced its quarterly earnings results on Thursday, July 29th. The company reported ($0.59) earnings per share (EPS) for the quarter, missing the Thomson Reuters’ consensus estimate of ($0.25) by ($0.34). Ranger Energy Services had a negative net margin of 10.40% and a negative return on equity of 9.39%. The business had revenue of $50.00 million during the quarter. Analysts predict that Ranger Energy Services will post -1.47 earnings per share for the current fiscal year.

Large investors have recently bought and sold shares of the business. Renaissance Technologies LLC grew its holdings in Ranger Energy Services by 30.3% in the first quarter. Renaissance Technologies LLC now owns 107,963 shares of the company’s stock worth $592,000 after purchasing an additional 25,076 shares during the period. LPL Financial LLC grew its holdings in Ranger Energy Services by 52.7% in the second quarter. LPL Financial LLC now owns 44,422 shares of the company’s stock worth $355,000 after purchasing an additional 15,324 shares during the period. Franklin Resources Inc. grew its holdings in Ranger Energy Services by 4.5% in the second quarter. Franklin Resources Inc. now owns 489,058 shares of the company’s stock worth $3,912,000 after purchasing an additional 20,913 shares during the period. Finally, BlackRock Inc. grew its holdings in Ranger Energy Services by 79.5% in the first quarter. BlackRock Inc. now owns 46,646 shares of the company’s stock worth $256,000 after purchasing an additional 20,655 shares during the period. Institutional investors and hedge funds own 18.61% of the company’s stock.

Ranger Energy Services Company Profile

Ranger Energy Services, Inc engages in the provision of service rigs and associated services. It operates through the following segments: High Specification Rigs, Completion and Other Services, and Processing Solutions. The High Specification Rig segment offers service rigs and complementary equipment and services.

See Also: What is included in the gross domestic product?

Get a free copy of the Zacks research report on Ranger Energy Services (RNGR)

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

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