Forum Energy Technologies PT Raised to $36.00 (FET)
Analysts at Deutsche Bank lifted their price target on shares of Forum Energy Technologies (NYSE:FET) to $36.00 in a research report issued to clients and investors on Tuesday, American Banking News reports. Deutsche Bank’s price objective suggests a potential upside of 23.12% from the company’s current price.
A number of other firms have also recently commented on FET. Analysts at Robert W. Baird reiterated a “buy” rating on shares of Forum Energy Technologies in a research note to investors on Monday. They now have a $35.00 price target on the stock. Separately, analysts at JPMorgan Chase & Co. raised their price target on shares of Forum Energy Technologies to $31.00 in a research note to investors on Monday. They now have an “overweight” rating on the stock. Finally, analysts at Jefferies Group cut their price target on shares of Forum Energy Technologies from $30.00 to $29.00 in a research note to investors on Monday. They now have a “hold” rating on the stock. Nine investment analysts have rated the stock with a hold rating and seven have given a buy rating to the company. Forum Energy Technologies presently has a consensus rating of “Hold” and a consensus target price of $32.35.
Forum Energy Technologies (NYSE:FET) traded up 0.38% on Tuesday, hitting $29.35. The stock had a trading volume of 70,298 shares. Forum Energy Technologies has a 1-year low of $21.03 and a 1-year high of $32.52. The stock has a 50-day moving average of $26.97 and a 200-day moving average of $28.18. The company has a market cap of $2.683 billion and a P/E ratio of 23.06.
Forum Energy Technologies (NYSE:FET) last released its earnings data on Friday, October 25th. The company reported $0.44 earnings per share for the quarter, beating the analysts’ consensus estimate of $0.42 by $0.02. The company had revenue of $390.20 million for the quarter, compared to the consensus estimate of $407.71 million. During the same quarter last year, the company posted $0.44 earnings per share. Forum Energy Technologies’s revenue was up 12.2% compared to the same quarter last year. Analysts expect that Forum Energy Technologies will post $1.57 EPS for the current fiscal year.
Forum Energy Technologies, Inc is an oilfield products company, serving the subsea, drilling, completion, production and infrastructure sectors of the oil and natural gas industry.
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