Robert W. Baird Reiterates Buy Rating for Forum Energy Technologies (FET)
Forum Energy Technologies (NYSE:FET)‘s stock had its “buy” rating restated by equities research analysts at Robert W. Baird in a research note issued to investors on Monday, Analyst Ratings Net reports. They currently have a $35.00 price target on the stock. Robert W. Baird’s target price points to a potential upside of 19.70% from the stock’s previous close.
Shares of Forum Energy Technologies (NYSE:FET) opened at 29.24 on Monday. Forum Energy Technologies has a 52-week low of $21.03 and a 52-week 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 $2.673 billion and a price-to-earnings 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 (EPS) for the quarter, beating the 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 in the previous year, the company posted $0.44 earnings per share. The company’s revenue for the quarter was up 12.2% on a year-over-year basis. On average, analysts predict that Forum Energy Technologies will post $1.57 earnings per share for the current fiscal year.
A number of other analysts have also recently weighed in on FET. 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. Separately, 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. Finally, analysts at Global Hunter Securities upgraded shares of Forum Energy Technologies from a “reduce” rating to a “neutral” rating in a research note to investors on Monday. They now have a $28.00 price target on the stock, up previously from $24.00. Nine analysts have rated the stock with a hold rating and eight have given a buy rating to the company. The stock has a consensus rating of “Hold” and a consensus price target of $31.99.
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.
Get Analysts' Upgrades and Downgrades via Email - Stay on top of analysts' coverage with Analyst Ratings Network's FREE daily email newsletter that provides a concise list of analysts' upgrades and downgrades. Click here to register now.