Kodiak Gas Services (NYSE:KGS) Downgraded by Zacks Research to Hold

Kodiak Gas Services (NYSE:KGS) was downgraded by stock analysts at Zacks Research from a “strong-buy” rating to a “hold” rating in a research note issued on Wednesday,Zacks.com reports.

A number of other brokerages also recently weighed in on KGS. Stifel Nicolaus set a $48.00 target price on shares of Kodiak Gas Services in a research note on Thursday, November 6th. Mizuho raised their price objective on shares of Kodiak Gas Services from $45.00 to $47.00 and gave the company an “outperform” rating in a research report on Friday, August 29th. Barclays cut their target price on shares of Kodiak Gas Services from $37.00 to $35.00 and set an “equal weight” rating for the company in a research report on Tuesday, October 14th. Royal Bank Of Canada increased their target price on Kodiak Gas Services from $42.00 to $43.00 and gave the company an “outperform” rating in a research note on Wednesday, August 13th. Finally, Weiss Ratings cut Kodiak Gas Services from a “buy (b-)” rating to a “hold (c)” rating in a report on Monday. Seven equities research analysts have rated the stock with a Buy rating and three have issued a Hold rating to the stock. According to MarketBeat.com, the stock has a consensus rating of “Moderate Buy” and a consensus target price of $44.38.

Kodiak Gas Services Stock Down 2.7%

Shares of NYSE:KGS opened at $33.34 on Wednesday. The firm has a fifty day moving average price of $34.84 and a two-hundred day moving average price of $34.43. The company has a market cap of $2.89 billion, a price-to-earnings ratio of 41.67 and a beta of 1.31. The company has a debt-to-equity ratio of 2.08, a current ratio of 0.98 and a quick ratio of 0.69. Kodiak Gas Services has a one year low of $29.25 and a one year high of $50.43.

Kodiak Gas Services (NYSE:KGS) last issued its quarterly earnings data on Tuesday, November 4th. The company reported $0.36 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.50 by ($0.14). The business had revenue of $322.74 million during the quarter, compared to analysts’ expectations of $328.23 million. Kodiak Gas Services had a return on equity of 10.37% and a net margin of 5.84%.The company’s quarterly revenue was down .6% on a year-over-year basis. During the same quarter last year, the business posted ($0.07) EPS. Analysts anticipate that Kodiak Gas Services will post 1.12 EPS for the current fiscal year.

Kodiak Gas Services announced that its board has authorized a stock repurchase program on Monday, August 11th that allows the company to repurchase $50.00 million in shares. This repurchase authorization allows the company to reacquire up to 1.8% of its stock through open market purchases. Stock repurchase programs are often an indication that the company’s board believes its stock is undervalued.

Hedge Funds Weigh In On Kodiak Gas Services

A number of hedge funds and other institutional investors have recently made changes to their positions in the business. Allworth Financial LP increased its position in Kodiak Gas Services by 1,850.0% during the 2nd quarter. Allworth Financial LP now owns 741 shares of the company’s stock valued at $25,000 after purchasing an additional 703 shares during the period. Quarry LP bought a new stake in shares of Kodiak Gas Services during the 1st quarter valued at about $30,000. BI Asset Management Fondsmaeglerselskab A S purchased a new position in shares of Kodiak Gas Services during the first quarter valued at about $37,000. EverSource Wealth Advisors LLC increased its position in shares of Kodiak Gas Services by 1,501.3% during the second quarter. EverSource Wealth Advisors LLC now owns 1,233 shares of the company’s stock valued at $42,000 after buying an additional 1,156 shares during the period. Finally, PNC Financial Services Group Inc. raised its stake in Kodiak Gas Services by 80.4% in the third quarter. PNC Financial Services Group Inc. now owns 1,449 shares of the company’s stock worth $54,000 after buying an additional 646 shares in the last quarter. Institutional investors own 24.95% of the company’s stock.

Kodiak Gas Services Company Profile

Kodiak Gas Services, Inc operates contract compression infrastructure for customers in the oil and gas industry in the United States. It operates in two segments, Compression Operations and Other Services. The Compression Operations segment operates company-owned and customer-owned compression infrastructure to enable the production, gathering, and transportation of natural gas and oil.