Ranger Energy Services (NYSE:RNGR) was upgraded by Zacks Investment Research from a “hold” rating to a “buy” rating in a note issued to investors on Thursday. The brokerage presently has a $7.50 price target on the stock. Zacks Investment Research‘s price objective would suggest a potential downside of 2.60% from the stock’s current price.

According to Zacks, “Ranger Energy Services Inc. is a provider of well service rigs and services primarily in the United States. It focuses on unconventional horizontal well completion and production operations. Ranger Energy Services Inc. is based in HOUSTON, United States. “

Several other brokerages have also recently issued reports on RNGR. Piper Jaffray Companies set a $13.00 target price on shares of Ranger Energy Services and gave the stock a “buy” rating in a research note on Wednesday, October 3rd. ValuEngine cut shares of Ranger Energy Services from a “hold” rating to a “sell” rating in a research note on Monday, August 20th. One investment analyst has rated the stock with a sell rating, three have issued a hold rating and two have given a buy rating to the stock. The stock currently has a consensus rating of “Hold” and an average target price of $9.90.

RNGR traded up $0.60 on Thursday, hitting $7.70. 2,890 shares of the company’s stock were exchanged, compared to its average volume of 10,432. Ranger Energy Services has a fifty-two week low of $6.35 and a fifty-two week high of $11.39. The company has a quick ratio of 0.93, a current ratio of 0.93 and a debt-to-equity ratio of 0.19. The stock has a market cap of $108.83 million, a PE ratio of -9.87, a price-to-earnings-growth ratio of 15.33 and a beta of 2.20.

Ranger Energy Services (NYSE:RNGR) last announced its earnings results on Tuesday, August 7th. The company reported ($0.08) earnings per share (EPS) for the quarter, missing the consensus estimate of $0.10 by ($0.18). Ranger Energy Services had a positive return on equity of 0.14% and a negative net margin of 2.76%. The business had revenue of $73.10 million for the quarter, compared to analyst estimates of $75.75 million. As a group, research analysts anticipate that Ranger Energy Services will post 0.2 earnings per share for the current year.

In other Ranger Energy Services news, Director Merrill A. Miller, Jr. bought 11,850 shares of the stock in a transaction on Tuesday, September 4th. The shares were bought at an average price of $8.47 per share, with a total value of $100,369.50. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink. Insiders own 4.33% of the company’s stock.

Several hedge funds have recently made changes to their positions in RNGR. Royce & Associates LP boosted its position in shares of Ranger Energy Services by 51.6% during the 2nd quarter. Royce & Associates LP now owns 602,790 shares of the company’s stock valued at $5,528,000 after acquiring an additional 205,177 shares during the last quarter. FMR LLC boosted its position in shares of Ranger Energy Services by 22.6% during the 2nd quarter. FMR LLC now owns 767,627 shares of the company’s stock valued at $7,039,000 after acquiring an additional 141,395 shares during the last quarter. B. Riley Financial Inc. boosted its position in shares of Ranger Energy Services by 30.3% during the 2nd quarter. B. Riley Financial Inc. now owns 541,166 shares of the company’s stock valued at $4,962,000 after acquiring an additional 125,996 shares during the last quarter. Millennium Management LLC acquired a new position in shares of Ranger Energy Services during the 2nd quarter valued at about $670,000. Finally, Paloma Partners Management Co acquired a new position in shares of Ranger Energy Services during the 2nd quarter valued at about $264,000. 29.02% of the stock is currently owned by hedge funds and other institutional investors.

Ranger Energy Services Company Profile

Ranger Energy Services, Inc provides well service rigs and associated services in the United States. It operates through two segments, Well Services and Processing Solutions. The company offers well completion support srevices, such as milling out composite plugs used during hydraulic fracturing; workover services, including retrieval and replacement of existing production tubing; well maintenance services comprising replacement of downhole artificial lift components; and decommissioning services consisting of plugging and abandonment services.

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