Forum Energy Technologies Inc (NYSE:FET) has been given an average recommendation of “Hold” by the seventeen brokerages that are presently covering the firm, Marketbeat Ratings reports. One investment analyst has rated the stock with a sell rating, eleven have assigned a hold rating and four have issued a buy rating on the company. The average 1-year price objective among brokers that have covered the stock in the last year is $12.04.

A number of equities research analysts have recently issued reports on FET shares. Zacks Investment Research raised shares of Forum Energy Technologies from a “sell” rating to a “hold” rating in a research note on Tuesday, October 30th. ValuEngine raised shares of Forum Energy Technologies from a “sell” rating to a “hold” rating in a research note on Friday, August 17th. Johnson Rice downgraded shares of Forum Energy Technologies from a “buy” rating to an “accumulate” rating and set a $15.00 price target on the stock. in a research note on Monday, September 17th. JPMorgan Chase & Co. boosted their price target on shares of Forum Energy Technologies from $12.00 to $13.00 and gave the company a “neutral” rating in a research note on Monday, September 17th. Finally, Simmons raised shares of Forum Energy Technologies from a “neutral” rating to an “overweight” rating and reduced their price target for the company from $13.25 to $12.50 in a research note on Tuesday, October 2nd.

FET stock traded down $0.03 during trading on Monday, reaching $5.69. 1,059,817 shares of the stock were exchanged, compared to its average volume of 1,028,053. The company has a debt-to-equity ratio of 0.33, a current ratio of 3.47 and a quick ratio of 1.25. Forum Energy Technologies has a 1 year low of $5.62 and a 1 year high of $17.95. The company has a market capitalization of $624.43 million, a PE ratio of -14.97 and a beta of 1.94.

Forum Energy Technologies (NYSE:FET) last released its quarterly earnings results on Monday, October 29th. The oil and gas company reported $0.03 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.02 by $0.01. The business had revenue of $267.00 million for the quarter, compared to the consensus estimate of $283.19 million. Forum Energy Technologies had a net margin of 5.87% and a negative return on equity of 0.74%. The business’s revenue was up 34.4% on a year-over-year basis. During the same period in the previous year, the firm earned ($0.10) EPS. Sell-side analysts forecast that Forum Energy Technologies will post -0.08 EPS for the current year.

Several hedge funds have recently made changes to their positions in the stock. Marshall Wace North America L.P. acquired a new position in shares of Forum Energy Technologies in the third quarter valued at approximately $348,000. Clearbridge Investments LLC grew its holdings in shares of Forum Energy Technologies by 10.1% in the third quarter. Clearbridge Investments LLC now owns 1,060,722 shares of the oil and gas company’s stock valued at $10,978,000 after purchasing an additional 97,332 shares in the last quarter. Vanguard Group Inc. grew its holdings in shares of Forum Energy Technologies by 1.9% in the third quarter. Vanguard Group Inc. now owns 7,017,172 shares of the oil and gas company’s stock valued at $72,627,000 after purchasing an additional 128,060 shares in the last quarter. Rehmann Capital Advisory Group grew its holdings in shares of Forum Energy Technologies by 920.2% in the third quarter. Rehmann Capital Advisory Group now owns 10,784 shares of the oil and gas company’s stock valued at $1,042,000 after purchasing an additional 9,727 shares in the last quarter. Finally, Thrivent Financial for Lutherans grew its holdings in shares of Forum Energy Technologies by 7.1% in the third quarter. Thrivent Financial for Lutherans now owns 476,444 shares of the oil and gas company’s stock valued at $4,931,000 after purchasing an additional 31,663 shares in the last quarter. Hedge funds and other institutional investors own 92.80% of the company’s stock.

About Forum Energy Technologies

Forum Energy Technologies, Inc designs, manufactures, and distributes products to the oil and natural gas industry in the United States and internationally. The company operates in three segments: Drilling & Subsea, Completions, and Production & Infrastructure. The Drilling & Subsea segment designs and manufactures products, and provides related services to the drilling, energy subsea construction and service markets, and other markets, such as alternative energy, defense, and communications.

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Analyst Recommendations for Forum Energy Technologies (NYSE:FET)

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