ProFrac (NASDAQ:ACDC) Price Target Raised to $5.00 at Morgan Stanley

ProFrac (NASDAQ:ACDC) had its price objective upped by Morgan Stanley from $4.00 to $5.00 in a research note issued to investors on Tuesday morning,Benzinga reports. The firm currently has an underweight rating on the stock.

A number of other brokerages have also weighed in on ACDC. UBS Group restated a “positive” rating on shares of ProFrac in a research note on Thursday, March 12th. Zacks Research upgraded ProFrac from a “strong sell” rating to a “hold” rating in a research report on Wednesday, January 21st. Finally, Weiss Ratings reissued a “sell (d-)” rating on shares of ProFrac in a report on Monday, December 29th. One equities research analyst has rated the stock with a Buy rating, three have assigned a Hold rating and three have given a Sell rating to the company’s stock. According to MarketBeat, the company has an average rating of “Reduce” and an average price target of $5.63.

ProFrac Stock Up 8.2%

ACDC opened at $6.71 on Tuesday. The firm has a market capitalization of $1.21 billion, a P/E ratio of -3.05 and a beta of 1.70. ProFrac has a one year low of $3.08 and a one year high of $10.70. The company has a fifty day moving average price of $5.42 and a 200-day moving average price of $4.51. The company has a debt-to-equity ratio of 1.08, a current ratio of 0.81 and a quick ratio of 0.56.

ProFrac (NASDAQ:ACDC) last issued its quarterly earnings data on Friday, March 13th. The company reported ($0.51) earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of ($0.44) by ($0.07). The business had revenue of $436.50 million during the quarter, compared to analysts’ expectations of $402.95 million. ProFrac had a negative return on equity of 33.18% and a negative net margin of 18.97%. Equities research analysts expect that ProFrac will post -0.5 earnings per share for the current fiscal year.

Institutional Inflows and Outflows

A number of institutional investors have recently added to or reduced their stakes in the company. First Financial Bankshares Inc increased its stake in ProFrac by 30.1% in the third quarter. First Financial Bankshares Inc now owns 4,204,795 shares of the company’s stock valued at $15,558,000 after acquiring an additional 973,062 shares during the last quarter. AQR Capital Management LLC lifted its stake in ProFrac by 61.7% during the fourth quarter. AQR Capital Management LLC now owns 1,638,822 shares of the company’s stock worth $6,375,000 after purchasing an additional 625,596 shares during the last quarter. Hotchkis & Wiley Capital Management LLC boosted its holdings in shares of ProFrac by 27.8% in the 3rd quarter. Hotchkis & Wiley Capital Management LLC now owns 1,484,760 shares of the company’s stock worth $5,494,000 after purchasing an additional 322,860 shares in the last quarter. Bridgeway Capital Management LLC boosted its holdings in shares of ProFrac by 2.8% in the 2nd quarter. Bridgeway Capital Management LLC now owns 1,199,562 shares of the company’s stock worth $9,309,000 after purchasing an additional 32,382 shares in the last quarter. Finally, Wells Fargo & Company MN increased its position in shares of ProFrac by 12.1% during the 4th quarter. Wells Fargo & Company MN now owns 1,088,687 shares of the company’s stock valued at $4,235,000 after purchasing an additional 117,608 shares during the last quarter. Institutional investors own 12.75% of the company’s stock.

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. It also manufactures and sells high horsepower pumps, valves, piping, swivels, large-bore manifold systems, and fluid ends.