In a report released today, Luke Lemoine from Piper Sandler maintained a Buy rating on ProFrac Holding (ACDC – Research Report), with a price target of $14.00. The company’s shares closed last Friday at $7.98.
According to TipRanks, Lemoine is a 3-star analyst with an average return of 3.8% and a 48.35% success rate. Lemoine covers the Energy sector, focusing on stocks such as Tenaris SA, Solaris Oilfield Infrastructure, and Cactus.
The word on The Street in general, suggests a Moderate Buy analyst consensus rating for ProFrac Holding with a $12.70 average price target.
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Based on ProFrac Holding’s latest earnings release for the quarter ending June 30, the company reported a quarterly revenue of $709.2 million and a GAAP net loss of $2.9 million. In comparison, last year the company earned a revenue of $696.73 million and had a net profit of $44.93 million
Based on the recent corporate insider activity of 42 insiders, corporate insider sentiment is positive on the stock. This means that over the past quarter there has been an increase of insiders buying their shares of ACDC in relation to earlier this year.
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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.
Read More on ACDC:
- ProFrac Holding Corp. Reports Third Quarter 2023 Financial and Operational Results
- ProFrac Holding reports Q3 EPS (21c), consensus 10c
- ProFrac Holding downgraded to Equal Weight from Overweight at Morgan Stanley
- ProFrac Holding price target lowered to $10.50 from $12.50 at BofA
- ProFrac Holding evaluating strategic options for Proppant Production segment
