Royal Bank Of Canada Forecasts Strong Price Appreciation for Kodiak Gas Services (NYSE:KGS) Stock

Kodiak Gas Services (NYSE:KGS) had its price target increased by Royal Bank Of Canada from $43.00 to $45.00 in a research note issued on Tuesday,Benzinga reports. The brokerage currently has an “outperform” rating on the stock. Royal Bank Of Canada’s price target would suggest a potential upside of 37.27% from the company’s previous close.

A number of other research firms have also recently weighed in on KGS. Stifel Nicolaus set a $48.00 price objective on shares of Kodiak Gas Services in a research report on Thursday, November 6th. Weiss Ratings lowered Kodiak Gas Services from a “buy (b-)” rating to a “hold (c)” rating in a research report on Monday, November 10th. Mizuho raised their price target on Kodiak Gas Services from $45.00 to $47.00 and gave the stock an “outperform” rating in a research note on Friday, August 29th. Barclays reduced their target price on Kodiak Gas Services from $37.00 to $35.00 and set an “equal weight” rating on the stock in a research note on Tuesday, October 14th. Finally, Zacks Research lowered shares of Kodiak Gas Services from a “strong-buy” rating to a “hold” rating in a research note on Wednesday, November 12th. Eight equities research analysts have rated the stock with a Buy rating and three have given a Hold rating to the company’s stock. According to data from MarketBeat.com, the company presently has a consensus rating of “Moderate Buy” and an average price target of $44.63.

Kodiak Gas Services Price Performance

KGS stock traded down $0.17 during trading on Tuesday, hitting $32.78. 209,686 shares of the company’s stock traded hands, compared to its average volume of 1,343,157. The business has a fifty day simple moving average of $34.79 and a 200 day simple moving average of $34.40. Kodiak Gas Services has a 52 week low of $29.25 and a 52 week high of $50.43. The company has a debt-to-equity ratio of 2.08, a quick ratio of 0.69 and a current ratio of 0.98. The stock has a market capitalization of $2.84 billion, a price-to-earnings ratio of 41.00 and a beta of 1.31.

Kodiak Gas Services (NYSE:KGS) last announced its quarterly earnings results on Tuesday, November 4th. The company reported $0.36 EPS for the quarter, missing analysts’ consensus estimates of $0.50 by ($0.14). Kodiak Gas Services had a net margin of 5.84% and a return on equity of 10.37%. The business had revenue of $322.74 million during the quarter, compared to the consensus estimate of $328.23 million. During the same period in the previous year, the business posted ($0.07) EPS. The firm’s revenue was down .6% on a year-over-year basis. As a group, research analysts expect that Kodiak Gas Services will post 1.12 EPS for the current fiscal year.

Kodiak Gas Services announced that its board has approved a share buyback plan on Monday, August 11th that permits the company to buyback $50.00 million in shares. This buyback authorization permits the company to reacquire up to 1.8% of its shares through open market purchases. Shares buyback plans are usually a sign that the company’s leadership believes its stock is undervalued.

Hedge Funds Weigh In On Kodiak Gas Services

A number of large investors have recently made changes to their positions in KGS. Invesco Ltd. lifted its holdings in shares of Kodiak Gas Services by 59.9% during the 2nd quarter. Invesco Ltd. now owns 4,869,346 shares of the company’s stock valued at $166,872,000 after purchasing an additional 1,824,407 shares during the last quarter. Vanguard Group Inc. increased its position in Kodiak Gas Services by 41.3% during the 3rd quarter. Vanguard Group Inc. now owns 4,611,188 shares of the company’s stock valued at $170,476,000 after buying an additional 1,348,357 shares in the last quarter. T. Rowe Price Investment Management Inc. purchased a new stake in Kodiak Gas Services in the first quarter valued at about $40,648,000. Deprince Race & Zollo Inc. purchased a new stake in Kodiak Gas Services in the third quarter valued at about $28,385,000. Finally, Goldman Sachs Group Inc. boosted its holdings in Kodiak Gas Services by 58.3% in the first quarter. Goldman Sachs Group Inc. now owns 1,983,360 shares of the company’s stock worth $73,979,000 after acquiring an additional 730,180 shares in the last quarter. 24.95% of the stock is owned by institutional investors and hedge funds.

About Kodiak Gas Services

Kodiak Gas Services, Inc operates contract compression infrastructure for customers in the oil and gas industry in the United States. It operates in two segments, Compression Operations and Other Services. The Compression Operations segment operates company-owned and customer-owned compression infrastructure to enable the production, gathering, and transportation of natural gas and oil.