Forum Energy Technologies, Inc. (FET) Receives Consensus Recommendation of “Hold” from Analysts
Shares of Forum Energy Technologies, Inc. (NYSE:FET) have been assigned a consensus rating of “Hold” from the twenty analysts that are covering the stock, MarketBeat reports. One analyst has rated the stock with a sell recommendation, twelve have issued a hold recommendation and five have assigned a buy recommendation to the company. The average 1-year target price among analysts that have issued a report on the stock in the last year is $19.67.
FET has been the topic of a number of recent analyst reports. J P Morgan Chase & Co upgraded Forum Energy Technologies from an “underweight” rating to a “neutral” rating and set a $16.00 price objective on the stock in a report on Tuesday, May 16th. TheStreet cut Forum Energy Technologies from a “c-” rating to a “d+” rating in a report on Thursday, May 25th. Deutsche Bank AG reiterated a “buy” rating and issued a $25.00 price objective (down from $26.00) on shares of Forum Energy Technologies in a report on Tuesday, May 30th. Societe Generale initiated coverage on Forum Energy Technologies in a report on Wednesday, June 7th. They issued a “buy” rating and a $20.00 price objective on the stock. Finally, Jefferies Group LLC set a $19.00 price objective on Forum Energy Technologies and gave the company a “hold” rating in a report on Tuesday, June 6th.
Shares of Forum Energy Technologies (NYSE FET) opened at 12.40 on Friday. The stock’s market capitalization is $1.19 billion. Forum Energy Technologies has a one year low of $10.05 and a one year high of $26.25. The stock has a 50 day moving average price of $12.23 and a 200 day moving average price of $16.42.
Forum Energy Technologies (NYSE:FET) last released its quarterly earnings data on Thursday, July 27th. The oil and gas company reported ($0.10) EPS for the quarter, beating analysts’ consensus estimates of ($0.11) by $0.01. Forum Energy Technologies had a negative return on equity of 4.55% and a negative net margin of 18.89%. The firm had revenue of $201.10 million for the quarter, compared to analysts’ expectations of $194.16 million. Equities analysts forecast that Forum Energy Technologies will post ($0.30) earnings per share for the current year.
Several institutional investors have recently bought and sold shares of FET. BlackRock Inc. increased its position in shares of Forum Energy Technologies by 28,940.8% during the first quarter. BlackRock Inc. now owns 4,365,706 shares of the oil and gas company’s stock worth $90,370,000 after acquiring an additional 4,350,673 shares during the period. Van ECK Associates Corp purchased a new stake in shares of Forum Energy Technologies during the first quarter worth $25,200,000. Aberdeen Asset Management PLC UK increased its position in shares of Forum Energy Technologies by 29.8% during the second quarter. Aberdeen Asset Management PLC UK now owns 3,180,777 shares of the oil and gas company’s stock worth $49,620,000 after acquiring an additional 731,128 shares during the period. Kennedy Capital Management Inc. purchased a new stake in shares of Forum Energy Technologies during the first quarter worth $13,033,000. Finally, Dimensional Fund Advisors LP increased its position in shares of Forum Energy Technologies by 9.1% during the second quarter. Dimensional Fund Advisors LP now owns 5,433,239 shares of the oil and gas company’s stock worth $84,758,000 after acquiring an additional 455,066 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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