Forum Energy Technologies Inc (NYSE:FET) was upgraded by equities research analysts at BidaskClub from a “sell” rating to a “hold” rating in a research note issued to investors on Wednesday.

FET has been the topic of a number of other research reports. Credit Suisse Group restated a “buy” rating and issued a $23.00 target price on shares of Forum Energy Technologies in a research note on Thursday, March 30th. Wolfe Research lowered shares of Forum Energy Technologies from an “outperform” rating to a “market perform” rating and cut their target price for the company from $24.00 to $21.00 in a research note on Monday, April 17th. FBR & Co upped their target price on shares of Forum Energy Technologies from $14.00 to $18.00 and gave the company a “mkt perform” rating in a research note on Thursday, February 16th. Barclays PLC set a $24.00 target price on shares of Forum Energy Technologies and gave the company a “buy” rating in a research note on Tuesday, February 14th. Finally, Deutsche Bank AG restated a “buy” rating and issued a $25.00 target price (down previously from $26.00) on shares of Forum Energy Technologies in a research note on Tuesday, May 30th. Eleven investment analysts have rated the stock with a hold rating and nine have issued a buy rating to the stock. The company currently has a consensus rating of “Hold” and a consensus price target of $21.42.

Analyst Recommendations for Forum Energy Technologies (NYSE:FET)

Shares of Forum Energy Technologies (FET) traded down 4.79% during trading on Wednesday, hitting $16.90. The stock had a trading volume of 558,710 shares. Forum Energy Technologies has a 12-month low of $14.60 and a 12-month high of $26.25. The stock’s 50-day moving average is $16.58 and its 200-day moving average is $20.21. The stock’s market cap is $1.62 billion.

Forum Energy Technologies (NYSE:FET) last issued its earnings results on Thursday, April 27th. The oil and gas company reported ($0.14) earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of ($0.16) by $0.02. The business had revenue of $171.10 million for the quarter, compared to analyst estimates of $164.38 million. Forum Energy Technologies had a negative net margin of 9.22% and a negative return on equity of 5.12%. The company’s revenue for the quarter was up 7.3% on a year-over-year basis. During the same quarter in the prior year, the business posted ($0.22) EPS. On average, equities research analysts expect that Forum Energy Technologies will post ($0.30) EPS for the current year.

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Hedge funds and other institutional investors have recently bought and sold shares of the company. Hillman Co. boosted its position in Forum Energy Technologies by 14.3% in the first quarter. Hillman Co. now owns 2,325,810 shares of the oil and gas company’s stock valued at $48,145,000 after buying an additional 290,558 shares during the period. Envestnet Asset Management Inc. boosted its position in Forum Energy Technologies by 6.1% in the fourth quarter. Envestnet Asset Management Inc. now owns 11,234 shares of the oil and gas company’s stock valued at $247,000 after buying an additional 642 shares during the period. Adams Diversified Equity Fund Inc. boosted its position in Forum Energy Technologies by 2.9% in the first quarter. Adams Diversified Equity Fund Inc. now owns 46,600 shares of the oil and gas company’s stock valued at $965,000 after buying an additional 1,300 shares during the period. Silvercrest Asset Management Group LLC boosted its position in Forum Energy Technologies by 2.5% in the fourth quarter. Silvercrest Asset Management Group LLC now owns 2,588,032 shares of the oil and gas company’s stock valued at $56,937,000 after buying an additional 63,209 shares during the period. Finally, Comerica Bank boosted its position in Forum Energy Technologies by 198.8% in the fourth quarter. Comerica Bank now owns 87,233 shares of the oil and gas company’s stock valued at $2,037,000 after buying an additional 58,043 shares during the period.

Forum Energy Technologies Company Profile

Forum Energy Technologies, Inc is an oilfield products company. The Company designs, manufactures and distributes products, and engages in aftermarket services, parts supply and related services. The Company operates through three segments: Drilling & Subsea, Completions, and Production & Infrastructure.

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