Expro Group (NYSE:XPRO) Given New $19.00 Price Target at Barclays

Key Points

• Barclays lowered Expro Group’s price target from $20 to $19 while maintaining an “overweight” rating, implying approximately 24.9% upside from the prior close.
• Analyst sentiment remains mixed: MarketBeat’s consensus rating is “Hold” with an average price target of $18, despite recent upgrades from Zacks Research and KeyCorp.
• Expro’s latest quarterly results were mixed, with revenue of $393.2 million exceeding estimates but EPS of $0.15 falling short of the $0.17 consensus; revenue declined 7% year over year.

Expro Group (NYSE:XPRO - Get Free Report) had its price target decreased by analysts at Barclays from $20.00 to $19.00 in a research note issued to investors on Friday,Benzinga reports. The firm presently has an "overweight" rating on the stock. Barclays's target price suggests a potential upside of 24.86% from the stock's previous close.

XPRO has been the subject of several other reports. Zacks Research upgraded shares of Expro Group from a "hold" rating to a "strong-buy" rating in a research note on Wednesday, July 15th. Weiss Ratings upgraded Expro Group from a "sell (d)" rating to a "sell (d+)" rating in a research note on Wednesday. KeyCorp raised Expro Group to a "neutral" rating in a research report on Thursday, June 4th. The Goldman Sachs Group set a $19.00 target price on Expro Group in a report on Thursday, June 4th. Finally, Piper Sandler raised their price target on Expro Group from $13.00 to $16.00 and gave the company an "underweight" rating in a report on Wednesday, April 15th. 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 assigned a Sell rating to the stock. According to data from MarketBeat, the stock currently has a consensus rating of "Hold" and a consensus target price of $18.00.

Expro Group Stock Performance

Shares of XPRO opened at $15.22 on Friday. The stock has a market capitalization of $1.71 billion, a price-to-earnings ratio of 84.54 and a beta of 0.90. Expro Group has a 12 month low of $9.81 and a 12 month high of $18.73. The firm has a fifty day simple moving average of $15.23 and a 200 day simple moving average of $16.15. The company has a current ratio of 2.13, a quick ratio of 1.76 and a debt-to-equity ratio of 0.06.

Expro Group (NYSE:XPRO - Get Free Report) last issued its quarterly earnings results on Tuesday, July 28th. The company reported $0.15 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.17 by ($0.02). Expro Group had a net margin of 1.33% and a return on equity of 3.27%. The business had revenue of $393.18 million during the quarter, compared to analyst estimates of $387.36 million. During the same quarter in the previous year, the firm posted $0.30 earnings per share. The firm's quarterly revenue was down 7.0% on a year-over-year basis. Research analysts forecast that Expro Group will post 0.6 EPS for the current fiscal year.

Insider Buying and Selling

In other news, Director Eileen Goss Whelley sold 6,168 shares of the company's stock in a transaction that occurred on Wednesday, June 3rd. The shares were sold at an average price of $15.14, for a total transaction of $93,383.52. Following the completion of the sale, the director owned 47,648 shares of the company's stock, valued at approximately $721,390.72. This represents a 11.46% decrease in their position. The sale was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. 1.80% of the stock is currently owned by company insiders.

Institutional Investors Weigh In On Expro Group

A number of hedge funds and other institutional investors have recently bought and sold shares of the company. Price T Rowe Associates Inc. MD grew its stake in shares of Expro Group by 20.5% in the fourth quarter. Price T Rowe Associates Inc. MD now owns 11,030,884 shares of the company's stock worth $147,264,000 after purchasing an additional 1,878,245 shares during the last quarter. Dimensional Fund Advisors LP raised its position in Expro Group by 9.9% during the 1st quarter. Dimensional Fund Advisors LP now owns 5,917,574 shares of the company's stock worth $103,023,000 after purchasing an additional 533,741 shares during the last quarter. Jennison Associates LLC lifted its holdings in Expro Group by 7.9% during the 1st quarter. Jennison Associates LLC now owns 4,699,370 shares of the company's stock worth $81,816,000 after buying an additional 342,449 shares during the period. Qube Research & Technologies Ltd lifted its holdings in Expro Group by 35.3% during the 2nd quarter. Qube Research & Technologies Ltd now owns 1,553,748 shares of the company's stock worth $13,347,000 after buying an additional 405,168 shares during the period. Finally, Boston Partners lifted its holdings in Expro Group by 6.9% during the 3rd quarter. Boston Partners now owns 1,435,293 shares of the company's stock worth $17,054,000 after buying an additional 92,888 shares during the period. Institutional investors own 92.07% of the company's stock.

About Expro Group

Expro Group plc is a global energy services company that specializes in well flow management and well testing solutions for the oil and gas industry. The company’s core offerings include wellhead and pressure control systems, downhole well construction tools, subsea intervention services, and integrated tubular running services. These capabilities enable exploration and production companies to optimize well performance, enhance safety and mitigate operational risk throughout the drilling, completion and intervention phases of the well life cycle.

Founded in 1973, Expro has grown both organically and through targeted acquisitions to establish a presence in more than 30 countries.

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