Flotek Industries Upgraded to Neutral at Zacks (FTK)
Flotek Industries (NYSE:FTK) was upgraded by Zacks from an “underperform” rating to a “neutral” rating in a report issued on Monday, AnalystRatings.NET reports. The firm currently has a $19.80 price target on the stock. Zacks‘ target price would indicate a potential upside of 2.33% from the stock’s previous close.
A number of other firms have also recently commented on FTK. Analysts at Johnson Rice initiated coverage on shares of Flotek Industries in a research note to investors on Monday, January 13th. They set an “overweight” rating on the stock. Separately, analysts at Iberia Capital initiated coverage on shares of Flotek Industries in a research note to investors on Friday, December 13th. They set an “outperform” rating on the stock. Finally, analysts at Singular Research cut their price target on shares of Flotek Industries from $26.00 to $24.00 in a research note to investors on Tuesday, November 19th. They now have a “buy” rating on the stock. One research analyst has rated the stock with a hold rating and four have assigned a buy rating to the company. The company presently has a consensus rating of “Buy” and a consensus target price of $20.27.
Flotek Industries (NYSE:FTK) traded up 0.31% during mid-day trading on Monday, hitting $19.35. 293,509 shares of the company’s stock traded hands. Flotek Industries has a 52-week low of $12.84 and a 52-week high of $23.90. The stock’s 50-day moving average is $19. and its 200-day moving average is $20.56. The company has a market cap of $999.3 million and a P/E ratio of 21.24.
Flotek Industries (NYSE:FTK) last posted its quarterly earnings results on Wednesday, November 6th. The company reported $0.16 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.18 by $0.02. The company had revenue of $98.40 million for the quarter, compared to the consensus estimate of $100.52 million. During the same quarter in the prior year, the company posted $0.19 earnings per share. The company’s quarterly revenue was up 25.2% on a year-over-year basis. On average, analysts predict that Flotek Industries will post $0.66 earnings per share for the current fiscal year.
In other Flotek Industries news, CEO John Chisholm sold 40,000 shares of the stock in a transaction dated Tuesday, January 7th. The shares were sold at an average price of $19.37, for a total transaction of $774,800.00. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link.
Flotek Industries, Inc (NYSE:FTK), is a diversified global supplier of drilling and production related products and services.
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