ProFrac Holding Corp. (NASDAQ:ACDC) Given Consensus Rating of "Reduce" by Analysts

Key Points

• ProFrac Holding Corp. (NASDAQ:ACDC) has a consensus analyst rating of "Reduce", with two sell ratings, two hold ratings, and one buy rating among five covering brokerages. The average 12-month price target is $5.50.
• Recent analyst actions have been mixed to negative, including Piper Sandler raising its target to $6.00 while maintaining a neutral view, Morgan Stanley setting a $5.00 target, and Wall Street Zen downgrading the stock to sell.
• ProFrac’s latest quarter showed a loss of $0.47 per share, worse than estimates, though revenue of $449.6 million topped expectations. The company also posted negative margins and weak profitability metrics, while analysts expect full-year EPS of -1.16.

Shares of ProFrac Holding Corp. (NASDAQ:ACDC - Get Free Report) have been given an average rating of "Reduce" by the five brokerages that are currently covering the company, Marketbeat.com reports. Two investment analysts have rated the stock with a sell rating, two have assigned a hold rating and one has assigned a buy rating to the company. The average 1 year target price among brokers that have updated their coverage on the stock in the last year is $5.50.

A number of research firms have recently commented on ACDC. Piper Sandler lifted their price objective on ProFrac from $5.00 to $6.00 and gave the stock a "neutral" rating in a research note on Monday, May 18th. Weiss Ratings restated a "sell (d-)" rating on shares of ProFrac in a research note on Wednesday, June 24th. Wall Street Zen lowered ProFrac from a "hold" rating to a "sell" rating in a report on Saturday, May 9th. Finally, Morgan Stanley set a $5.00 price target on ProFrac in a research report on Wednesday, July 15th.

Hedge Funds Weigh In On ProFrac

Institutional investors and hedge funds have recently bought and sold shares of the stock. AQR Capital Management LLC raised its stake in ProFrac by 61.7% during the 4th quarter. AQR Capital Management LLC now owns 1,638,822 shares of the company's stock valued at $6,375,000 after purchasing an additional 625,596 shares during the last quarter. Hotchkis & Wiley Capital Management LLC grew its position in ProFrac by 27.8% in the 3rd quarter. Hotchkis & Wiley Capital Management LLC now owns 1,484,760 shares of the company's stock worth $5,494,000 after purchasing an additional 322,860 shares during the last quarter. Bridgeway Capital Management LLC increased its holdings in shares of ProFrac by 2.8% during the 2nd quarter. Bridgeway Capital Management LLC now owns 1,199,562 shares of the company's stock worth $9,309,000 after purchasing an additional 32,382 shares during the period. Wells Fargo & Company MN increased its holdings in shares of ProFrac by 12.1% during the 4th quarter. Wells Fargo & Company MN now owns 1,088,687 shares of the company's stock worth $4,235,000 after purchasing an additional 117,608 shares during the period. Finally, Empowered Funds LLC raised its position in shares of ProFrac by 9.6% during the fourth quarter. Empowered Funds LLC now owns 776,893 shares of the company's stock valued at $3,022,000 after buying an additional 67,939 shares during the last quarter. Institutional investors own 12.75% of the company's stock.

ProFrac Stock Performance

NASDAQ:ACDC opened at $4.77 on Tuesday. ProFrac has a 1 year low of $3.08 and a 1 year high of $8.44. The firm's fifty day simple moving average is $6.30 and its 200 day simple moving average is $5.89. The company has a current ratio of 0.82, a quick ratio of 0.58 and a debt-to-equity ratio of 1.27. The firm has a market capitalization of $862.99 million, a PE ratio of -1.87 and a beta of 1.42.

ProFrac (NASDAQ:ACDC - Get Free Report) last announced its earnings results on Thursday, May 7th. The company reported ($0.47) EPS for the quarter, missing the consensus estimate of ($0.37) by ($0.10). ProFrac had a negative return on equity of 44.39% and a negative net margin of 24.25%.The firm had revenue of $449.60 million during the quarter, compared to the consensus estimate of $426.39 million. On average, sell-side analysts anticipate that ProFrac will post -1.16 EPS for the current year.

About ProFrac

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. It also manufactures and sells high horsepower pumps, valves, piping, swivels, large-bore manifold systems, and fluid ends.

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