Presidio Production Company (NYSE:FTW) Receives Consensus Recommendation of "Moderate Buy" from Brokerages

Key Points

• Presidio Production has a “Moderate Buy” consensus rating from six analysts: four recommend buying and two recommend holding. The average 12-month price target is $15.00, compared with the stock’s $9.50 opening price.
• Recent analyst actions were broadly favorable, including new “overweight” and “buy” ratings from Stephens and BTIG Research, while Weiss Ratings and Wall Street Zen upgraded the stock from sell to hold.
• State Street initiated a 52,900-share position valued at approximately $643,000. Presidio reported quarterly EPS of $0.34, beating the expected loss of $0.10, although revenue of $54 million fell short of the $59.01 million estimate.

Presidio Production Company (NYSE:FTW - Get Free Report) has been given an average recommendation of "Moderate Buy" by the six research firms that are covering the stock, Marketbeat reports. Two investment analysts have rated the stock with a hold recommendation and four have assigned a buy recommendation to the company. The average 12 month price target among brokers that have updated their coverage on the stock in the last year is $15.00.

FTW has been the topic of a number of research analyst reports. Weiss Ratings upgraded Presidio Production from a "sell (d-)" rating to a "hold (c-)" rating in a research report on Friday, September 25th. Stephens began coverage on Presidio Production in a research report on Thursday. They issued an "overweight" rating and a $15.00 price objective for the company. Wall Street Zen raised Presidio Production from a "sell" rating to a "hold" rating in a research note on Saturday, August 15th. BTIG Research initiated coverage on Presidio Production in a report on Wednesday, July 8th. They set a "buy" rating and a $15.00 target price on the stock. Finally, Jefferies Financial Group restated a "buy" rating on shares of Presidio Production in a research note on Wednesday, July 8th.

Hedge Funds Weigh In On Presidio Production

A hedge fund recently bought a new stake in Presidio Production stock. State Street Corp bought a new position in shares of Presidio Production Company (NYSE:FTW - Free Report) during the second quarter, according to its most recent filing with the Securities & Exchange Commission. The institutional investor bought 52,900 shares of the company's stock, valued at approximately $643,000. State Street Corp owned approximately 0.18% of Presidio Production at the end of the most recent quarter.

Presidio Production Stock Down 0.2%

Shares of FTW stock opened at $9.50 on Friday. Presidio Production has a 12-month low of $9.47 and a 12-month high of $17.20. The company's 50-day moving average price is $10.72.

Presidio Production (NYSE:FTW - Get Free Report) last released its quarterly earnings results on Wednesday, August 12th. The company reported $0.34 EPS for the quarter, beating analysts' consensus estimates of ($0.10) by $0.44. The firm had revenue of $54.00 million during the quarter, compared to analyst estimates of $59.01 million. On average, equities research analysts expect that Presidio Production will post -2.54 EPS for the current fiscal year.

Presidio Production Company Profile

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