On September 13, 2023, JPMorgan Chase & Co. released a note to investors stating their coverage on shares of Expro Group (NYSE:XPRO). The research analysts at JPMorgan Chase & Co. gave an “overweight” rating and set a price target of $30.00 on the stock. This suggests a potential upside of 27.99% from the current price of the company.
As of Wednesday, XPRO opened at $23.44. The stock has a 50-day simple moving average of $22.36 and a 200-day simple moving average of $19.90. The company has a current ratio of 1.95, a quick ratio of 1.59, and a debt-to-equity ratio of 0.01. With a market cap of $2.55 billion, PE ratio of -1,172.00, and beta value of 1.09, Expro Group’s performance has intrigued investors over the past year as well.
Several notable large investors have recently made moves with regards to their XPRO holdings. FMR LLC increased its position by 77.4% during the first quarter with an additional acquisition of 7,122,166 shares worth approximately $299,684,000 in total added value to the firm’s portfolio in relation to Expro Group’s stock that climbed significantly in price during that period alone.
Another major investor is BlackRock Inc., which saw its stake increase by about 3.1% during the second quarter through acquiring an extra accumulation amounting to around 179,835 shares valued at $107,385,000.
Hotchkis & Wiley Capital Management LLC also showed faith in Expro Group by boosting its stake by10.% since quarter one when it acquired roughly around420k shares worth approximately$83 million within this time frame.
T.Rowe Price Investment Management Inc.’s confidence in Expro Group grew by 20.8% during Q4, with the purchase of approximately 551,821 additional shares valued at $58,099,000.
State Street Corp’s position in Expro Group grew by 15.7% during the first quarter with an acquisition of about 305,675 shares worth around $41 million.
These institutional investors clearly see potential in Expro Group’s future growth and stability, reflecting their optimism through these acquisitions.
Regarding earnings, Expro Group released its latest financial results on Thursday, July 27th. The company reported earnings per share (EPS) of $0.13 for the quarter, which fell short of the consensus estimate by ($0.13). Furthermore, the company revealed a positive return on equity of 1.02%, despite experiencing a negative net margin of 0.12%. In terms of revenue from operations during the quarter, Expro Group generated $396.92 million compared to the consensus estimate of $370.91 million.
Sell-side analysts are predicting that Expro Group will post an EPS of 0.9 for the current fiscal year.
In conclusion, JPMorgan Chase & Co.’s assumption fueled investor interest with their “overweight” rating and target price for Expro Group’s stock. However, it is important to note that while several large investors have shown confidence in the company’s potential for growth through their recent acquisitions; XPRO has posted lower than expected earnings results recently. It is crucial for investors to consider both sides before making any investment decisions related to this particular stock option.
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Research Reports and Insider Activities Shed Light on Expro Group’s Viability as an Investment Opportunity
On September 13, 2023, several research reports shed light on the current state of Expro Group, a notable company in the industry. Financial analysis firm Piper Sandler recently adjusted their price target for Expro Group shares from $30.00 to $32.00, while also granting the stock an “overweight” rating. Similarly, Barclays increased their target price from $22.00 to $23.00 and assigned an “equal weight” rating to the company’s shares.
These research reports provide crucial information for investors seeking to gauge the viability of Expro Group as a potential investment opportunity. The recommendations and ratings offered by respected financial institutions such as Piper Sandler and Barclays hold significant weight in influencing market sentiment towards a particular stock.
Moreover, it is essential to consider insider activities within a company when evaluating its worth. In this regard, Director Michael C. Kearney has been involved in transactions related to Expro Group shares. On September 6th, Kearney sold 5,735 shares at an average price of $24.44, with the total transaction amounting to $140,163.40.
The disclosure of this sale was made through a filing with the Securities & Exchange Commission (SEC), which can be accessed via an appropriate hyperlink provided by the commission’s website. Additionally, there have been previous instances where Kearney sold 25,000 shares on July 26th at an average price of $23.14, resulting in a total transaction value of $578,500.00.
Insights into insider activities can serve as indicators of market sentiment and provide valuable information for potential investors. By reviewing these transactions conducted by individuals closely associated with the company itself, one can better understand how insiders perceive their own organization’s prospects.
This is not an isolated case; other members of Expro Group’s leadership have also engaged in similar sales of company stock recently — further emphasizing potential concerns for investors. In total, insiders have sold 55,735 shares of company stock over the past three months, amounting to an estimated worth of $1,269,413. It is noteworthy to mention that these insider sales represent approximately 1.50% of the company’s overall stock.
Understanding the significance and implications behind insider trading activities can be a critical aspect of investment decision-making. While it is common for company executives and insiders to sell their shares for various reasons, such transactions may raise questions about their confidence in the future performance of the organization.
As with any investment opportunity, it is crucial for potential investors to conduct thorough research and consider multiple factors when making decisions. Research reports from reputable institutions play a vital role in providing valuable insights into a company’s prospects. Additionally, monitoring insider activities can provide further context and understanding regarding market sentiment.
Investors must carefully weigh all available information before making any decisions. Evaluating financial reports alongside expert opinions and monitoring insider transactions can help paint a comprehensive picture of Expro Group’s current standing and future outlook.
