Expro Group (NYSE:XPRO) Reaches New 12-Month Low Following Analyst Downgrade

Key Points

• Expro Group hit a new 52-week low after Barclays cut its rating from overweight to equal weight and lowered its price target from $19 to $14. Shares fell to $12.43, down from the prior close of $13.86.
• Analyst views remain mixed: MarketBeat reports an average rating of Hold and a consensus price target of $16, with ratings ranging from Strong Buy to Sell.
• In its latest quarter, Expro reported EPS of $0.19, below the $0.27 consensus, and revenue of $439.94 million, slightly short of expectations; revenue nevertheless rose 6.9% year over year.

Shares of Expro Group Holdings N.V. (NYSE:XPRO - Get Free Report) reached a new 52-week low on Thursday after Barclays downgraded the stock from an overweight rating to an equal weight rating. Barclays now has a $14.00 price target on the stock, down from their previous price target of $19.00. Expro Group traded as low as $12.43 and last traded at $12.5520, with a volume of 1,024,388 shares traded. The stock had previously closed at $13.86.

XPRO has been the subject of a number of other research 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 reiterated a "sell (d+)" rating on shares of Expro Group in a report on Tuesday, October 27th. Piper Sandler reduced their target price on shares of Expro Group from $16.00 to $15.00 and set an "underweight" rating for the company in a report on Wednesday. Finally, Wall Street Zen raised Expro Group to a "hold" rating in a research report on Saturday, September 19th. One analyst has rated the stock with a Strong Buy rating, one has given a Buy rating, three have assigned a Hold rating and two have issued a Sell rating to the stock. According to MarketBeat, the stock has an average rating of "Hold" and a consensus target price of $16.00.

Institutional Investors Weigh In On Expro Group

Several large investors have recently made changes to their positions in XPRO. Parallel Advisors LLC acquired a new position in Expro Group during the third quarter valued at approximately $35,000. Envestnet Asset Management Inc. grew its stake in Expro Group by 1.7% in the second quarter. Envestnet Asset Management Inc. now owns 299,484 shares of the company's stock valued at $4,423,000 after purchasing an additional 4,877 shares in the last quarter. Van ECK Associates Corp acquired a new position in shares of Expro Group during the second quarter valued at about $20,502,000. Wellington Management Group LLP bought a new position in shares of Expro Group during the second quarter valued at about $3,063,000. Finally, Empowered Funds LLC purchased a new position in Expro Group during the second quarter valued at approximately $8,206,000. Institutional investors own 92.07% of the company's stock.

Expro Group Trading Down 8.4%

The company has a market cap of $1.43 billion, a price-to-earnings ratio of 1,269.00 and a beta of 0.99. The company's 50-day moving average is $16.70 and its 200 day moving average is $16.46. The company has a quick ratio of 1.69, a current ratio of 2.05 and a debt-to-equity ratio of 0.06.

Expro Group (NYSE:XPRO - Get Free Report) last announced 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 0.10% and a return on equity of 2.78%. The firm's revenue for the quarter was up 6.9% compared to the same quarter last year. During the same period in the previous year, the firm earned $0.24 EPS. Research analysts predict that Expro Group Holdings N.V. will post 0.53 EPS for the current year.

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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