Piper Sandler Sticks to Their Buy Rating for ProFrac Holding (ACDC)

Piper Sandler analyst Luke Lemoine maintained a Buy rating on ProFrac Holding (ACDC – Research Report) today and set a price target of $11.00. The company’s shares closed last Friday at $9.01.

According to TipRanks, Lemoine is a 4-star analyst with an average return of 9.6% and a 66.17% success rate. Lemoine covers the Energy sector, focusing on stocks such as Solaris Oilfield Infrastructure, Helix Energy, and Schlumberger.

Currently, the analyst consensus on ProFrac Holding is a Moderate Buy with an average price target of $10.38.

ACDC market cap is currently $1.44B and has a P/E ratio of -10.66.

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ProFrac Holding (ACDC) Company Description:

ProFrac Holding Corp is engaged in providing hydraulic fracturing, completion services, and other complementary products and services to leading upstream oil and gas companies engaged in the exploration and production of North American unconventional oil and natural gas resources. Its operations are primarily focused in West Texas, East Texas/Louisiana, South Texas, Oklahoma, Uinta, and Appalachian. The company operates in three segments: stimulation services, manufacturing, and proppant production. Stimulation services, which generate the majority of the revenue for the company operate a fleet of mobile hydraulic fracturing units and other auxiliary equipment that generates revenue by providing stimulation services.