Forum Energy Technologies Given New $34.00 Price Target at Cowen and Company (FET)
Investment analysts at Cowen and Company reduced their price target on shares of Forum Energy Technologies (NYSE:FET) from $37.00 to $34.00 in a note issued to investors on Tuesday, Stock Ratings Network reports. The firm currently has an “outperform” rating on the stock. Cowen and Company’s price target points to a potential upside of 22.26% from the company’s current price.
FET has been the subject of a number of other recent research reports. Analysts at Guggenheim initiated coverage on shares of Forum Energy Technologies in a research note to investors on Thursday, December 19th. They set a “neutral” rating on the stock. Separately, analysts at Iberia Capital initiated coverage on shares of Forum Energy Technologies in a research note to investors on Friday, December 13th. They set an “outperform” rating and a $33.00 price target on the stock. Finally, analysts at FBR Capital Markets initiated coverage on shares of Forum Energy Technologies in a research note to investors on Friday, December 6th. They set a “market perform” rating on the stock. Eleven analysts have rated the stock with a hold rating and nine have assigned a buy rating to the company’s stock. The company presently has an average rating of “Hold” and an average price target of $31.99.
Forum Energy Technologies (NYSE:FET) traded down 0.04% during mid-day trading on Tuesday, hitting $27.81. 303,553 shares of the company’s stock traded hands. Forum Energy Technologies has a 52-week low of $24.02 and a 52-week high of $32.52. The stock has a 50-day moving average of $27.34 and a 200-day moving average of $28.25. The company has a market cap of $2.543 billion and a P/E ratio of 21.94.
Forum Energy Technologies (NYSE:FET) last issued its quarterly earnings data on Friday, October 25th. The company reported $0.44 EPS for the quarter, beating the Thomson Reuters 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 prior year, the company posted $0.44 earnings per share. The company’s quarterly revenue was up 12.2% on a year-over-year basis. Analysts expect that Forum Energy Technologies will post $1.53 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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