ProFrac (NASDAQ:ACDC - Get Free Report) had its target price increased by stock analysts at Bank of America from $8.50 to $9.50 in a research report issued on Monday, Benzinga reports. The firm presently has a "neutral" rating on the stock. Bank of America's target price suggests a potential upside of 11.90% from the stock's current price.
Separately, Stifel Nicolaus lowered their target price on ProFrac from $12.00 to $10.00 and set a "buy" rating on the stock in a research report on Thursday, March 14th. Three research analysts have rated the stock with a hold rating and two have assigned a buy rating to the company. Based on data from MarketBeat.com, the company currently has an average rating of "Hold" and a consensus target price of $12.50.
Check Out Our Latest Report on ProFrac
ProFrac Stock Performance
Shares of ACDC traded up $0.04 during midday trading on Monday, reaching $8.49. 1,018,705 shares of the stock were exchanged, compared to its average volume of 885,757. The company has a market cap of $1.35 billion, a P/E ratio of -16.02 and a beta of 0.71. The stock's 50 day simple moving average is $7.97 and its 200 day simple moving average is $8.27. ProFrac has a twelve month low of $6.46 and a twelve month high of $14.32. The company has a quick ratio of 0.62, a current ratio of 0.98 and a debt-to-equity ratio of 0.74.
ProFrac (NASDAQ:ACDC - Get Free Report) last issued its earnings results on Friday, March 15th. The company reported ($0.19) EPS for the quarter, missing the consensus estimate of $0.04 by ($0.23). The business had revenue of $489.10 million for the quarter, compared to analyst estimates of $594.17 million. ProFrac had a positive return on equity of 3.04% and a negative net margin of 3.98%. On average, sell-side analysts expect that ProFrac will post 0.81 earnings per share for the current year.
Institutional Investors Weigh In On ProFrac
A number of large investors have recently made changes to their positions in the business. Sandia Investment Management LP purchased a new position in ProFrac during the first quarter valued at $32,000. Peoples Bank KS bought a new stake in ProFrac during the third quarter valued at about $33,000. Quarry LP bought a new position in shares of ProFrac in the first quarter worth about $68,000. Tower Research Capital LLC TRC boosted its stake in shares of ProFrac by 42.4% in the fourth quarter. Tower Research Capital LLC TRC now owns 6,827 shares of the company's stock worth $58,000 after acquiring an additional 2,034 shares during the period. Finally, Acadian Asset Management LLC purchased a new stake in shares of ProFrac in the first quarter worth about $90,000. 12.75% of the stock is currently owned by institutional investors.
ProFrac Company Profile
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ProFrac Holding Corp. operates as a technology-focused energy services holding company in the United States. It operates through three segments: Stimulation Services, Manufacturing, and Proppant Production. The company offers hydraulic fracturing, well stimulation, in-basin frac sand, and other completion services and complementary products and services to upstream oil and natural gas companies engaged in the exploration and production of unconventional oil and natural gas resources.
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