Barclays PLC Reiterates Hold Rating for Forum Energy Technologies, Inc. (FET)
Forum Energy Technologies, Inc. (NYSE:FET)‘s stock had its “hold” rating reaffirmed by research analysts at Barclays PLC in a report issued on Sunday. They currently have a $17.00 target price on the oil and gas company’s stock. Barclays PLC’s price objective points to a potential upside of 17.24% from the company’s current price.
Other equities research analysts have also issued research reports about the company. Cowen and Company restated a “hold” rating and issued a $15.00 price objective on shares of Forum Energy Technologies in a research report on Tuesday, July 11th. Zacks Investment Research upgraded Forum Energy Technologies from a “sell” rating to a “hold” rating in a research report on Tuesday, August 1st. Capital One Financial Corporation lowered Forum Energy Technologies from an “overweight” rating to an “equal weight” rating in a research report on Friday, July 28th. Citigroup Inc. increased their target price on Forum Energy Technologies from $14.00 to $16.00 and gave the company a “neutral” rating in a research report on Thursday, October 5th. Finally, BidaskClub lowered Forum Energy Technologies from a “sell” rating to a “strong sell” rating in a research report on Friday, August 4th. Two investment analysts have rated the stock with a sell rating, twelve have given a hold rating and four have issued a buy rating to the company. Forum Energy Technologies currently has an average rating of “Hold” and a consensus price target of $18.63.
Shares of Forum Energy Technologies (NYSE FET) opened at $14.50 on Friday. The company has a quick ratio of 1.76, a current ratio of 3.74 and a debt-to-equity ratio of 0.34. Forum Energy Technologies has a 52-week low of $10.05 and a 52-week high of $26.25.
Forum Energy Technologies (NYSE:FET) last released its quarterly earnings data on Tuesday, October 31st. The oil and gas company reported ($0.10) EPS for the quarter, hitting the Thomson Reuters’ consensus estimate of ($0.10). Forum Energy Technologies had a negative return on equity of 3.97% and a negative net margin of 16.85%. The business had revenue of $198.70 million for the quarter, compared to analyst estimates of $200.96 million. During the same quarter in the prior year, the firm posted ($0.19) EPS. The business’s quarterly revenue was up 43.7% compared to the same quarter last year. analysts predict that Forum Energy Technologies will post -0.35 EPS for the current year.
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Several large investors have recently modified their holdings of the stock. Cutler Group LP boosted its holdings in Forum Energy Technologies by 22.8% during the 2nd quarter. Cutler Group LP now owns 7,000 shares of the oil and gas company’s stock valued at $109,000 after acquiring an additional 1,300 shares during the period. D.A. Davidson & CO. purchased a new position in Forum Energy Technologies during the 2nd quarter valued at about $116,000. Independent Portfolio Consultants Inc. boosted its stake in shares of Forum Energy Technologies by 1,150.8% in the 2nd quarter. Independent Portfolio Consultants Inc. now owns 7,505 shares of the oil and gas company’s stock valued at $117,000 after buying an additional 6,905 shares during the period. QS Investors LLC boosted its stake in shares of Forum Energy Technologies by 205.7% in the 2nd quarter. QS Investors LLC now owns 8,323 shares of the oil and gas company’s stock valued at $130,000 after buying an additional 5,600 shares during the period. Finally, BNP Paribas Arbitrage SA boosted its stake in shares of Forum Energy Technologies by 280.5% in the 2nd quarter. BNP Paribas Arbitrage SA now owns 9,368 shares of the oil and gas company’s stock valued at $146,000 after buying an additional 6,906 shares during the period. 97.89% of the stock is owned by hedge funds and other institutional investors.
Forum Energy Technologies Company Profile
Forum Energy Technologies, Inc is an oilfield products company. The Company designs, manufactures and distributes products, and engages in aftermarket services, parts supply and related services. The Company operates through three segments: Drilling & Subsea, Completions, and Production & Infrastructure.
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