Stifel Nicolaus Raises ProFrac (NASDAQ:ACDC) Price Target to $14.00

ProFrac (NASDAQ:ACDC) had its target price raised by investment analysts at Stifel Nicolaus from $13.00 to $14.00 in a report issued on Monday, Benzinga reports. The firm currently has a “buy” rating on the stock. Stifel Nicolaus’ price objective indicates a potential upside of 64.13% from the company’s current price.

Separately, Morgan Stanley cut ProFrac from an “overweight” rating to an “equal weight” rating and dropped their price target for the company from $18.00 to $14.00 in a research note on Tuesday, October 17th.

ProFrac Stock Up 6.9 %

NASDAQ ACDC traded up $0.55 during trading hours on Monday, reaching $8.53. 318,416 shares of the company’s stock were exchanged, compared to its average volume of 648,760. ProFrac has a one year low of $7.75 and a one year high of $26.23. The company has a debt-to-equity ratio of 0.72, a quick ratio of 0.58 and a current ratio of 0.96. The company’s 50-day moving average is $10.00 and its two-hundred day moving average is $11.11. The company has a market capitalization of $1.36 billion, a price-to-earnings ratio of 8.56 and a beta of 0.92.

ProFrac (NASDAQ:ACDC) last announced its quarterly earnings data on Thursday, August 10th. The company reported $0.13 EPS for the quarter, missing analysts’ consensus estimates of $0.22 by ($0.09). The business had revenue of $709.20 million during the quarter, compared to the consensus estimate of $749.97 million. ProFrac had a return on equity of 31.82% and a net margin of 1.21%.

Insider Transactions at ProFrac

In other ProFrac news, major shareholder Holdings Lp Thrc bought 603,478 shares of the business’s stock in a transaction that occurred on Tuesday, October 17th. The shares were bought at an average price of $9.09 per share, for a total transaction of $5,485,615.02. Following the transaction, the insider now directly owns 72,240,049 shares in the company, valued at $656,662,045.41. The purchase was disclosed in a document filed with the Securities & Exchange Commission, which is available through this hyperlink. In related news, major shareholder Farris Wilks acquired 3,409 shares of the firm’s stock in a transaction on Friday, October 27th. The stock was purchased at an average cost of $9.24 per share, with a total value of $31,499.16. Following the acquisition, the insider now owns 981,187 shares of the company’s stock, valued at approximately $9,066,167.88. The purchase was disclosed in a document filed with the SEC, which is accessible through this link. Also, major shareholder Holdings Lp Thrc acquired 603,478 shares of the company’s stock in a transaction on Tuesday, October 17th. The shares were bought at an average price of $9.09 per share, for a total transaction of $5,485,615.02. Following the completion of the purchase, the insider now owns 72,240,049 shares in the company, valued at approximately $656,662,045.41. The disclosure for this purchase can be found here. Corporate insiders own 2.60% of the company’s stock.

Institutional Inflows and Outflows

Several institutional investors and hedge funds have recently made changes to their positions in ACDC. Sandia Investment Management LP bought a new stake in shares of ProFrac during the first quarter valued at about $32,000. Peoples Bank KS bought a new position in shares of ProFrac in the third quarter worth $33,000. Cullen Frost Bankers Inc. bought a new stake in shares of ProFrac during the 2nd quarter valued at about $43,000. Quarry LP bought a new stake in ProFrac during the first quarter valued at approximately $68,000. Finally, Citigroup Inc. lifted its holdings in shares of ProFrac by 1,789.0% during the 2nd quarter. Citigroup Inc. now owns 7,707 shares of the company’s stock worth $86,000 after acquiring an additional 7,299 shares during the last quarter.

About ProFrac

ProFrac Holding Corp., an integrated energy services company, provides stimulation services, proppants production, and other complementary products and services to oil and gas companies in the United States. It operates through three segments: Stimulation Services, Manufacturing, and Proppant Production.