Howard Weil Increases Forum Energy Technologies Price Target to $37.00 (FET)
Analysts at Howard Weil lifted their price objective on shares of Forum Energy Technologies (NYSE:FET) to $37.00 in a research report issued to clients and investors on Monday, StockRatingsNetwork.com reports. Howard Weil’s target price would suggest a potential upside of 15.63% from the company’s current price.
A number of other firms have also recently commented on FET. Analysts at Jefferies Group raised their price target on shares of Forum Energy Technologies from $28.00 to $32.00 in a research note on Monday. Separately, analysts at JPMorgan Chase & Co. raised their price target on shares of Forum Energy Technologies from $33.00 to $38.00 in a research note on Monday. Finally, analysts at Citigroup Inc. reiterated a “buy” rating on shares of Forum Energy Technologies in a research note on Monday. They now have a $38.00 price target on the stock, up previously from $35.00. Five research analysts have rated the stock with a hold rating and ten have assigned a buy rating to the company. The company currently has a consensus rating of “Buy” and a consensus price target of $33.63.
Forum Energy Technologies (NYSE:FET) traded down 0.19% during mid-day trading on Monday, hitting $32.00. 390,735 shares of the company’s stock traded hands. Forum Energy Technologies has a 1-year low of $24.32 and a 1-year high of $33.84. The stock’s 50-day moving average is $29.87 and its 200-day moving average is $28.11. The company has a market cap of $2.829 billion and a P/E ratio of 23.40.
Forum Energy Technologies (NYSE:FET) last issued its quarterly earnings data on Thursday, April 24th. The company reported $0.40 earnings per share for the quarter, beating the analysts’ consensus estimate of $0.39 by $0.01. The company had revenue of $403.90 million for the quarter, compared to the consensus estimate of $403.17 million. During the same quarter last year, the company posted $0.34 earnings per share. Forum Energy Technologies’s revenue was up 8.3% compared to the same quarter last year. On average, analysts predict that Forum Energy Technologies will post $1.78 earnings per share 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.
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.