FTS International (NYSE:FTSI) Cut to Market Perform at Cowen

Cowen downgraded shares of FTS International (NYSE:FTSI) from an outperform rating to a market perform rating in a research note issued to investors on Thursday, The Fly reports.

A number of other research firms have also recently weighed in on FTSI. Bank of America cut FTS International from a buy rating to a neutral rating and cut their price target for the company from $7.00 to $6.25 in a research note on Wednesday, July 10th. Zacks Investment Research cut FTS International from a hold rating to a sell rating in a research note on Wednesday, July 3rd. Wells Fargo & Co restated a hold rating on shares of FTS International in a research note on Thursday, June 27th. Citigroup cut FTS International from a buy rating to a neutral rating and cut their price target for the company from $8.00 to $6.00 in a research note on Tuesday, July 2nd. Finally, Morgan Stanley cut their price target on FTS International from $13.00 to $9.00 and set an overweight rating on the stock in a research note on Friday, July 12th. Two research analysts have rated the stock with a sell rating, nine have assigned a hold rating and one has assigned a buy rating to the company’s stock. FTS International currently has an average rating of Hold and an average price target of $8.25.

NYSE:FTSI opened at $3.02 on Thursday. The firm has a market cap of $331.46 million, a PE ratio of 1.28, a price-to-earnings-growth ratio of 4.76 and a beta of 1.71. The stock has a fifty day moving average price of $3.05 and a 200 day moving average price of $6.86. FTS International has a 12-month low of $2.32 and a 12-month high of $13.65. The company has a current ratio of 2.95, a quick ratio of 2.49 and a debt-to-equity ratio of 8.49.

FTS International (NYSE:FTSI) last posted its quarterly earnings results on Tuesday, July 30th. The company reported $0.05 earnings per share for the quarter, missing the Zacks’ consensus estimate of $0.10 by ($0.05). FTS International had a net margin of 2.62% and a return on equity of 130.74%. The business had revenue of $225.80 million during the quarter, compared to analyst estimates of $236.09 million. During the same quarter in the prior year, the business earned $0.95 earnings per share. The firm’s quarterly revenue was down 54.2% on a year-over-year basis. Equities analysts forecast that FTS International will post 0.11 EPS for the current year.

Institutional investors and hedge funds have recently bought and sold shares of the company. Swiss National Bank increased its position in shares of FTS International by 60.5% during the second quarter. Swiss National Bank now owns 61,000 shares of the company’s stock worth $340,000 after purchasing an additional 23,000 shares in the last quarter. WINTON GROUP Ltd acquired a new stake in shares of FTS International during the second quarter worth about $218,000. Benefit Street Partners LLC increased its position in shares of FTS International by 56.7% during the second quarter. Benefit Street Partners LLC now owns 326,844 shares of the company’s stock worth $1,824,000 after purchasing an additional 118,217 shares in the last quarter. JPMorgan Chase & Co. increased its position in shares of FTS International by 20.7% during the second quarter. JPMorgan Chase & Co. now owns 2,207,850 shares of the company’s stock worth $12,674,000 after purchasing an additional 378,516 shares in the last quarter. Finally, Trexquant Investment LP acquired a new stake in shares of FTS International during the second quarter worth about $102,000. Institutional investors and hedge funds own 63.15% of the company’s stock.

FTS International Company Profile

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.

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