Forum Energy Technologies Rating Lowered to Underperform at Zacks (FET)
Forum Energy Technologies (NYSE:FET) was downgraded by Zacks from a “neutral” rating to an “underperform” rating in a research report issued on Tuesday, American Banking and Market News reports. They currently have a $24.50 price target on the stock. Zacks‘ target price would suggest a potential downside of 5.00% from the stock’s previous close.
Forum Energy Technologies (NYSE:FET) traded up 2.95% on Tuesday, hitting $26.55. The stock had a trading volume of 253,140 shares. Forum Energy Technologies has a one year low of $24.32 and a one year high of $32.52. The stock’s 50-day moving average is $26.72 and its 200-day moving average is $27.54. The company has a market cap of $2.428 billion and a P/E ratio of 20.34.
Forum Energy Technologies (NYSE:FET) last issued its quarterly earnings data on Friday, February 7th. The company reported $0.39 earnings per share for the quarter, missing the analysts’ consensus estimate of $0.40 by $0.01. Analysts expect that Forum Energy Technologies will post $1.83 EPS for the current fiscal year.
A number of other analysts have also recently weighed in on FET. Analysts at Jefferies Group cut their price target on shares of Forum Energy Technologies from $29.00 to $28.00 in a research note on Monday. Separately, analysts at Credit Suisse downgraded shares of Forum Energy Technologies from an “outperform” rating to a “neutral” rating in a research note on Thursday, January 16th. They now have a $30.00 price target on the stock, down previously from $33.00. Finally, analysts at Howard Weil upgraded shares of Forum Energy Technologies from a “sector perform” rating to a “sector outperform” rating in a research note on Thursday, January 9th. They now have a $35.00 price target on the stock. One investment analyst has rated the stock with a sell rating, nine have issued a hold rating and nine have assigned a buy rating to the company’s stock. Forum Energy Technologies currently has an average rating of “Hold” and a consensus target price of $31.38.
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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