Franks International (NYSE: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 report published on Monday morning, Zacks.com reports.

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. “

Other research analysts have also issued reports about the company. Tudor Pickering raised Franks International from a hold rating to a buy rating and set a $5.49 target price on the stock in a report on Tuesday, July 2nd. ValuEngine lowered Zumiez from a hold rating to a sell rating in a report on Tuesday, July 2nd. Three analysts have rated the stock with a sell rating, five have issued a hold rating and two have assigned a buy rating to the company. The stock currently has an average rating of Hold and an average target price of $7.94.

NYSE:FI opened at $5.64 on Monday. The business’s 50-day moving average price is $5.80. Franks International has a 52-week low of $4.80 and a 52-week high of $9.75. The company has a current ratio of 3.95, a quick ratio of 3.30 and a debt-to-equity ratio of 0.03.

Franks International (NYSE:FI) last released its earnings results on Tuesday, May 7th. The pipeline company reported ($0.13) earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of ($0.07) by ($0.06). The firm had revenue of $144.40 million for the quarter, compared to analyst estimates of $136.88 million. Franks International had a negative return on equity of 7.65% and a negative net margin of 13.96%. Franks International’s revenue was up 24.9% on a year-over-year basis. During the same period in the previous year, the firm earned ($0.18) earnings per share. Sell-side analysts anticipate that Franks International will post -0.23 earnings per share for the current fiscal year.

In related news, Director Steven B. Mosing sold 103,321 shares of the stock in a transaction on Friday, May 31st. The stock was sold at an average price of $5.84, for a total value of $603,394.64. Following the completion of the transaction, the director now owns 2,998,819 shares in the company, valued at approximately $17,513,102.96. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at the SEC website. Also, Director Steven B. Mosing sold 170,000 shares of the stock in a transaction on Thursday, June 6th. The shares were sold at an average price of $5.96, for a total value of $1,013,200.00. Following the completion of the transaction, the director now owns 2,765,140 shares of the company’s stock, valued at approximately $16,480,234.40. The disclosure for this sale can be found here. Insiders sold a total of 337,000 shares of company stock valued at $1,999,305 in the last quarter. 18.20% of the stock is currently owned by corporate insiders.

Several large investors have recently added to or reduced their stakes in the stock. PNC Financial Services Group Inc. boosted its position in shares of Franks International by 41.6% in the 4th quarter. PNC Financial Services Group Inc. now owns 6,640 shares of the pipeline company’s stock valued at $34,000 after purchasing an additional 1,950 shares during the period. CWM Advisors LLC boosted its position in Franks International by 26.5% during the 4th quarter. CWM Advisors LLC now owns 16,632 shares of the pipeline company’s stock worth $87,000 after acquiring an additional 3,484 shares during the period. Bank of America Corp DE boosted its position in Franks International by 9.8% during the 4th quarter. Bank of America Corp DE now owns 41,425 shares of the pipeline company’s stock worth $216,000 after acquiring an additional 3,695 shares during the period. Two Sigma Advisers LP boosted its position in Franks International by 7.7% during the 4th quarter. Two Sigma Advisers LP now owns 64,600 shares of the pipeline company’s stock worth $337,000 after acquiring an additional 4,600 shares during the period. Finally, Legal & General Group Plc boosted its position in Franks International by 30.6% during the 4th quarter. Legal & General Group Plc now owns 40,135 shares of the pipeline company’s stock worth $210,000 after acquiring an additional 9,415 shares during the period. Institutional investors and hedge funds own 38.42% of the company’s stock.

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.

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