Piper Sandler Issues Pessimistic Forecast for Expro Group (NYSE:XPRO) Stock Price

Key Points

• Piper Sandler cut its Expro Group price target from $16 to $15 and maintained an “underweight” rating; the new target implies 9.29% upside from the prior close.
• Analyst opinions are mixed: MarketBeat reports a consensus “Hold” rating and an average price target of $17.67.
• Expro Group’s latest quarterly results missed estimates, with EPS of $0.19 versus $0.27 expected and revenue of $439.94 million versus $442.36 million expected. Revenue nevertheless rose 6.9% year over year.

Expro Group (NYSE:XPRO - Get Free Report) had its target price cut by analysts at Piper Sandler from $16.00 to $15.00 in a note issued to investors on Wednesday, Benzinga reports. The brokerage presently has an "underweight" rating on the stock. Piper Sandler's price objective suggests a potential upside of 9.29% from the stock's previous close.

Several other research analysts also recently weighed in on the company. Wall Street Zen upgraded Expro Group to a "hold" rating in a report on Saturday, September 19th. Barclays decreased their price objective on Expro Group from $20.00 to $19.00 and set an "overweight" rating on the stock in a report on Friday, July 31st. Zacks Research raised Expro Group from a "hold" rating to a "strong-buy" rating in a research report on Wednesday, July 15th. Finally, Weiss Ratings reiterated a "sell (d+)" rating on shares of Expro Group in a research note on Tuesday, October 27th. One investment analyst has rated the stock with a Strong Buy rating, two have given a Buy rating, two have issued a Hold rating and two have issued a Sell rating to the stock. Based on data from MarketBeat, the company presently has a consensus rating of "Hold" and a consensus price target of $17.67.

Expro Group Price Performance

Expro Group stock traded up $0.39 during midday trading on Wednesday, reaching $13.72. 773,986 shares of the company were exchanged, compared to its average volume of 1,062,767. The company has a market capitalization of $1.54 billion, a price-to-earnings ratio of 76.03 and a beta of 0.99. The firm's 50-day simple moving average is $16.78 and its 200-day simple moving average is $16.47. Expro Group has a 1 year low of $12.44 and a 1 year high of $19.23. The company has a debt-to-equity ratio of 0.06, a quick ratio of 1.69 and a current ratio of 2.05.

Expro Group (NYSE:XPRO - Get Free Report) last released its earnings results on Tuesday, November 3rd. The company reported $0.19 earnings per share (EPS) for the quarter, missing analysts' consensus estimates of $0.27 by ($0.08). The firm had revenue of $439.94 million during the quarter, compared to analysts' expectations of $442.36 million. Expro Group had a net margin of 1.33% and a return on equity of 3.28%. Expro Group's revenue for the quarter was up 6.9% on a year-over-year basis. During the same quarter last year, the company posted $0.24 earnings per share. On average, analysts anticipate that Expro Group will post 0.53 EPS for the current year.

Institutional Inflows and Outflows

Large investors have recently made changes to their positions in the company. Parallel Advisors LLC acquired a new position in Expro Group during the third quarter valued at approximately $35,000. KBC Group NV acquired a new stake in shares of Expro Group in the first quarter worth $45,000. Royal Bank of Canada increased its position in shares of Expro Group by 43.8% in the first quarter. Royal Bank of Canada now owns 4,015 shares of the company's stock worth $71,000 after acquiring an additional 1,222 shares in the last quarter. Global Retirement Partners LLC acquired a new position in shares of Expro Group during the 2nd quarter valued at $62,000. Finally, Quantbot Technologies LP purchased a new stake in Expro Group during the 2nd quarter worth $98,000. 92.07% of the stock is owned by hedge funds and other institutional investors.

Expro Group Company Profile

Expro Group, Inc provides energy services and technologies that support the exploration, development, and production of oil and natural gas wells. The company helps operators manage wells throughout their life cycles, from drilling and completion through production, intervention, and abandonment.

Its offerings include well construction and well management services, well flow management, subsea services, and well intervention and integrity solutions. These services are designed to improve operational efficiency, safety, well performance, and reservoir recovery in both offshore and onshore environments.

Headquartered in Houston, Texas, Expro serves energy companies across major oil and gas producing regions worldwide, including North America, the North Sea, the Middle East, Africa, Asia-Pacific, and Latin America.

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