BMO Capital analyst Daniel Boyd downgraded RPC Inc (NYSE: RES) to Hold today and set a price target of $16. The company’s shares closed yesterday at $15.04, close to its 52-week low of $12.98.
According to TipRanks.com, Boyd has currently no stars on a ranking scale of 0-5 stars, with an average return of -6.6% and a 38.6% success rate. Boyd covers the Basic Materials sector, focusing on stocks such as C&J Energy Services Inc, Schlumberger Limited, and Nabors Industries.
Currently, the analyst consensus on RPC Inc is a Hold with an average price target of $15.13, implying a 0.6% upside from current levels. In a report issued on July 26, B.Riley FBR also reiterated a Hold rating on the stock with a $16 price target.
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Based on RPC Inc’s latest earnings release for the quarter ending June 30, the company reported a quarterly net profit of $59.27 million. In comparison, last year the company had a net profit of $43.25 million.
Based on the recent corporate insider activity of 18 insiders, corporate insider sentiment is negative on the stock.
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RPC, Inc. is an oil and gas services company, which engages in the exploration, production, and development of oil and gas properties. It operates through the Technical Services and Support Services segments.
