Flotek Industries Rating Lowered to Neutral at Zacks (FTK)
Flotek Industries (NYSE:FTK) was downgraded by Zacks from an “outperform” rating to a “neutral” rating in a note issued to investors on Tuesday. They currently have a $34.70 target price on the stock. Zacks‘s price target suggests a potential upside of 24.95% from the stock’s previous close.
Shares of Flotek Industries (NYSE:FTK) traded down 3.24% on Tuesday, hitting $26.87. 627,952 shares of the company’s stock traded hands. Flotek Industries has a 52-week low of $18.35 and a 52-week high of $32.92. The stock’s 50-day moving average is $30.6 and its 200-day moving average is $27.9. The company has a market cap of $1.449 billion and a P/E ratio of 35.65.
Flotek Industries (NYSE:FTK) last issued its quarterly earnings data on Wednesday, August 6th. The company reported $0.20 EPS for the quarter, missing the Thomson Reuters consensus estimate of $0.30 by $0.10. The company had revenue of $105.30 million for the quarter, compared to the consensus estimate of $108.08 million. During the same quarter in the prior year, the company posted $0.16 earnings per share. The company’s quarterly revenue was up 12.5% on a year-over-year basis. On average, analysts predict that Flotek Industries will post $0.93 earnings per share for the current fiscal year.
Flotek Industries, Inc (NYSE:FTK) is a diversified global supplier of drilling and production related products and services.
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