Forum Energy Technologies Sets New 52-Week High at $33.92 (FET)
Forum Energy Technologies (NYSE:FET)’s share price hit a new 52-week high during mid-day trading on Wednesday , AnalystRatings.Net reports. The stock traded as high as $33.92 and last traded at $33.65, with a volume of 172,269 shares changing hands. The stock had previously closed at $33.54.
Several analysts have recently commented on the stock. Analysts at Howard Weil raised their price target on shares of Forum Energy Technologies to $37.00 in a research note on Monday, April 28th. Separately, 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, April 28th. They now have a “hold” rating on the stock. Finally, 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, April 28th. They now have an “overweight” rating on the stock. Six research analysts have rated the stock with a hold rating and eleven have assigned a buy rating to the company. The company presently has an average rating of “Buy” and an average target price of $33.63.
The stock has a 50-day moving average of $31.85 and a 200-day moving average of $28.. The company has a market cap of $3.097 billion and a P/E ratio of 23.79.
Forum Energy Technologies (NYSE:FET) last released its 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 $1.81 earnings per share for the current fiscal year.
In other Forum Energy Technologies news, VP Michael Dewayne Danford sold 4,000 shares of Forum Energy Technologies stock in a transaction dated Wednesday, May 21st. The shares were sold at an average price of $33.08, for a total value of $132,320.00. Following the sale, the vice president now directly owns 63,453 shares of the company’s stock, valued at approximately $2,099,025. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link.
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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