Franks International (FI) Lowered to “Sell” at Zacks Investment Research

Zacks Investment Research cut shares of Franks International (NYSE:FI) from a hold rating to a sell rating in a research report report published on Monday morning.

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. “

A number of other research firms have also weighed in on FI. JPMorgan Chase & Co. lowered shares of Franks International from a neutral rating to an underweight rating and set a $7.00 price target on the stock. in a research report on Wednesday, September 27th. Jefferies Group set a $9.00 price target on shares of Franks International and gave the stock a hold rating in a research report on Thursday, October 5th. Deutsche Bank began coverage on shares of Franks International in a research report on Tuesday, October 10th. They set a hold rating and a $7.00 price target on the stock. Royal Bank of Canada set a $10.00 price target on shares of Franks International and gave the stock a buy rating in a research report on Sunday, October 8th. Finally, Credit Suisse Group lowered shares of Franks International from a neutral rating to an underperform rating in a research report on Tuesday, November 7th. Five investment analysts have rated the stock with a sell rating, nine have given a hold rating and one has issued a buy rating to the company’s stock. The stock currently has a consensus rating of Hold and an average price target of $7.61.

Franks International (NYSE:FI) traded up $0.26 during mid-day trading on Monday, hitting $7.97. 888,950 shares of the stock were exchanged, compared to its average volume of 945,389. The stock has a market capitalization of $1,664.38, a PE ratio of -15.04 and a beta of 1.10. Franks International has a twelve month low of $5.79 and a twelve month high of $13.00.

Franks International (NYSE:FI) last released its earnings results on Thursday, November 2nd. The pipeline company reported ($0.11) EPS for the quarter, hitting analysts’ consensus estimates of ($0.11). The business had revenue of $108.08 million during the quarter, compared to analysts’ expectations of $120.42 million. Franks International had a negative net margin of 26.21% and a negative return on equity of 9.25%. The company’s quarterly revenue was up 2.8% on a year-over-year basis. During the same quarter in the previous year, the company earned ($0.14) earnings per share. analysts predict 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 300,610 shares of the business’s stock in a transaction dated Friday, December 22nd. The shares were sold at an average price of $6.51, for a total value of $1,956,971.10. Following the transaction, the insider now directly owns 10,591,325 shares in the company, valued at approximately $68,949,525.75. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. Also, major shareholder Frank Mosing Family L. Michael sold 45,000 shares of the business’s stock in a transaction dated Monday, November 6th. The shares were sold at an average price of $7.28, for a total transaction of $327,600.00. Following the completion of the transaction, the insider now owns 9,273,667 shares in the company, valued at $67,512,295.76. The disclosure for this sale can be found here. Insiders have sold 4,796,592 shares of company stock worth $29,774,337 over the last 90 days. 77.90% of the stock is currently owned by company insiders.

A number of large investors have recently bought and sold shares of FI. FMR LLC raised its stake in shares of Franks International by 4.6% in the 2nd quarter. FMR LLC now owns 6,873,830 shares of the pipeline company’s stock valued at $56,984,000 after acquiring an additional 301,283 shares during the period. Schwab Charles Investment Management Inc. raised its stake in shares of Franks International by 52.6% in the 2nd quarter. Schwab Charles Investment Management Inc. now owns 250,309 shares of the pipeline company’s stock valued at $2,076,000 after acquiring an additional 86,246 shares during the period. Citadel Advisors LLC raised its stake in shares of Franks International by 10,360.6% in the 2nd quarter. Citadel Advisors LLC now owns 1,260,082 shares of the pipeline company’s stock valued at $10,446,000 after acquiring an additional 1,248,036 shares during the period. Parametric Portfolio Associates LLC raised its stake in shares of Franks International by 231.1% in the 2nd quarter. Parametric Portfolio Associates LLC now owns 286,862 shares of the pipeline company’s stock valued at $2,378,000 after acquiring an additional 200,217 shares during the period. Finally, First Trust Advisors LP purchased a new stake in shares of Franks International in the 2nd quarter valued at approximately $1,431,000. Institutional investors own 31.48% of the company’s stock.

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Franks International Company Profile

Frank’s International N.V. (FINV) is a provider of engineered tubular services, tubular fabrication and specialty well construction and well intervention solutions to the oil and gas industry. The Company operates through four business segments: International Services, U. S. Services, Tubular Sales and Blackhawk.

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