Bank of America Raises ProFrac (NASDAQ:ACDC) Price Target to $9.50

ProFrac (NASDAQ:ACDC) had its price target raised by Bank of America from $8.50 to $9.50 in a research note released on Monday, Benzinga reports. They currently have a neutral rating on the stock.

Separately, Stifel Nicolaus cut their price target on ProFrac from $12.00 to $10.00 and set a buy rating for the company in a 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. According to data from MarketBeat.com, the company presently has a consensus rating of Hold and a consensus price target of $12.50.

ProFrac Trading Up 5.9 %

Shares of ACDC opened at $7.93 on Monday. The stock has a fifty day moving average of $8.00 and a two-hundred day moving average of $8.25. The company has a debt-to-equity ratio of 0.74, a quick ratio of 0.62 and a current ratio of 0.98. The company has a market capitalization of $1.27 billion, a PE ratio of -14.96 and a beta of 0.71. ProFrac has a fifty-two week low of $6.46 and a fifty-two week high of $14.32.

ProFrac (NASDAQ:ACDC) last issued its quarterly earnings results on Friday, March 15th. The company reported ($0.19) earnings per share for the quarter, missing the consensus estimate of $0.04 by ($0.23). The business had revenue of $489.10 million during the quarter, compared to analyst estimates of $594.17 million. ProFrac had a negative net margin of 3.98% and a positive return on equity of 3.04%. As a group, analysts forecast that ProFrac will post 0.88 EPS for the current year.

Institutional Trading of ProFrac

A number of institutional investors have recently added to or reduced their stakes in the business. Kestra Advisory Services LLC boosted its position in ProFrac by 7.9% during the 2nd quarter. Kestra Advisory Services LLC now owns 13,600 shares of the company’s stock worth $152,000 after purchasing an additional 1,000 shares during the period. Tower Research Capital LLC TRC boosted its position in ProFrac by 10.0% in the 2nd quarter. Tower Research Capital LLC TRC now owns 14,381 shares of the company’s stock valued at $160,000 after buying an additional 1,307 shares during the last quarter. Rhumbline Advisers boosted its position in ProFrac by 4.7% in the 3rd quarter. Rhumbline Advisers now owns 35,384 shares of the company’s stock valued at $385,000 after buying an additional 1,602 shares during the last quarter. Charles Schwab Investment Management Inc. boosted its position in ProFrac by 1.1% in the 4th quarter. Charles Schwab Investment Management Inc. now owns 173,568 shares of the company’s stock valued at $1,472,000 after buying an additional 1,820 shares during the last quarter. Finally, California State Teachers Retirement System boosted its position in ProFrac by 8.6% in the 2nd quarter. California State Teachers Retirement System now owns 24,874 shares of the company’s stock valued at $278,000 after buying an additional 1,978 shares during the last quarter. 12.75% of the stock is owned by hedge funds and other institutional investors.

ProFrac Company Profile

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.