Jefferies Group Increases Forum Energy Technologies Price Target to $32.00 (FET)
Equities research analysts at Jefferies Group raised their target price on shares of Forum Energy Technologies (NYSE:FET) from $28.00 to $32.00 in a research note issued to investors on Monday, Analyst Ratings News reports.
Several other analysts have also recently commented on the stock. 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. Separately, 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. Finally, analysts at Zacks upgraded shares of Forum Energy Technologies from an “underperform” rating to a “neutral” rating in a research note on Monday, April 21st. They now have a $31.50 price target on the stock. Five research analysts have rated the stock with a hold rating and ten have issued a buy rating to the stock. The company currently has a consensus rating of “Buy” and an average price target of $33.63.
Shares of Forum Energy Technologies (NYSE:FET) traded down 0.19% during mid-day trading on Monday, hitting $32.00. The stock had a trading volume of 390,735 shares. Forum Energy Technologies has a 52-week low of $24.32 and a 52-week 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 price-to-earnings ratio of 23.40.
Forum Energy Technologies (NYSE:FET) last announced its earnings results 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.
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