ProPetro (NYSE:PUMP) Downgraded to "Strong Sell" Rating by Zacks Research

Key Points

• ProPetro (NYSE:PUMP) has been downgraded from a "hold" to a "strong sell" rating by Zacks Research.
• Several analysts have revised their price objectives for ProPetro, with Piper Sandler lowering it to $6.00, while Stifel Nicolaus set it at $10.00, indicating a mix of sentiments towards the stock.
• ProPetro reported a loss of ($0.07) EPS last quarter, missing analysts' expectations and showing a 9.2% decline in revenue compared to the previous year.

ProPetro (NYSE:PUMP - Get Free Report) was downgraded by Zacks Research from a "hold" rating to a "strong sell" rating in a research report issued to clients and investors on Monday,Zacks.com reports. Zacks Research also issued estimates for ProPetro's Q1 2027 earnings at $0.22 EPS, Q2 2027 earnings at $0.03 EPS and FY2027 earnings at $0.36 EPS.

Several other equities research analysts also recently issued reports on PUMP. Piper Sandler dropped their price objective on ProPetro from $7.00 to $6.00 and set a "neutral" rating on the stock in a report on Thursday, August 14th. Stifel Nicolaus set a $10.00 price objective on ProPetro and gave the stock a "buy" rating in a report on Wednesday, July 16th. Finally, JPMorgan Chase & Co. dropped their price objective on ProPetro from $8.00 to $7.00 and set a "neutral" rating on the stock in a report on Wednesday, May 28th. Two analysts have rated the stock with a Buy rating, four have given a Hold rating and one has assigned a Sell rating to the company. Based on data from MarketBeat.com, the company has a consensus rating of "Hold" and a consensus price target of $8.80.

ProPetro Stock Down 3.7%

Shares of NYSE:PUMP traded down $0.19 during mid-day trading on Monday, hitting $4.76. 1,616,413 shares of the company traded hands, compared to its average volume of 1,706,572. The firm has a market cap of $494.37 million, a P/E ratio of -3.23 and a beta of 1.13. The company has a debt-to-equity ratio of 0.07, a quick ratio of 1.35 and a current ratio of 1.42. ProPetro has a 52-week low of $4.51 and a 52-week high of $11.17. The firm's 50 day simple moving average is $5.45 and its 200 day simple moving average is $5.99.

ProPetro (NYSE:PUMP - Get Free Report) last posted its quarterly earnings data on Wednesday, July 30th. The company reported ($0.07) earnings per share (EPS) for the quarter, missing the consensus estimate of $0.03 by ($0.10). ProPetro had a positive return on equity of 1.84% and a negative net margin of 11.10%.The business had revenue of $326.15 million for the quarter, compared to analysts' expectations of $331.26 million. During the same quarter in the prior year, the firm earned ($0.03) earnings per share. ProPetro's revenue for the quarter was down 9.2% compared to the same quarter last year. On average, equities analysts anticipate that ProPetro will post 0.25 EPS for the current year.

Institutional Investors Weigh In On ProPetro

Institutional investors have recently made changes to their positions in the company. Quarry LP bought a new stake in shares of ProPetro in the 1st quarter valued at approximately $25,000. Headlands Technologies LLC acquired a new position in ProPetro during the 1st quarter valued at approximately $32,000. State of Wyoming acquired a new position in ProPetro during the 1st quarter valued at approximately $48,000. PharVision Advisers LLC acquired a new position in ProPetro during the 2nd quarter valued at approximately $60,000. Finally, Raymond James Financial Inc. acquired a new position in ProPetro during the 2nd quarter valued at approximately $60,000. 84.70% of the stock is currently owned by institutional investors.

About ProPetro

ProPetro Holding Corp. operates as an integrated oilfield services company. The company provides hydraulic fracturing, wireline, cementing, and other complementary oilfield completion services to upstream oil and gas companies in the Permian Basin. ProPetro Holding Corp. was founded in 2007 and is headquartered in Midland, Texas.