Forum Energy Technologies, Inc. (FET) Given Average Recommendation of “Hold” by Brokerages
Shares of Forum Energy Technologies, Inc. (NYSE:FET) have been given an average recommendation of “Hold” by the twenty analysts that are covering the firm, MarketBeat.com reports. One equities research analyst has rated the stock with a sell rating, twelve have given a hold rating and five have given a buy rating to the company. The average 1-year price target among brokers that have covered the stock in the last year is $19.67.
Several research firms have weighed in on FET. Societe Generale initiated coverage on shares of Forum Energy Technologies in a report on Wednesday, June 7th. They issued a “buy” rating and a $20.00 target price on the stock. Barclays PLC lowered shares of Forum Energy Technologies from an “overweight” rating to an “equal weight” rating and decreased their price target for the company from $24.00 to $16.00 in a report on Wednesday, July 12th. Capital One Financial Corporation lowered shares of Forum Energy Technologies from an “overweight” rating to an “equal weight” rating in a report on Friday, July 28th. Morgan Stanley restated an “equal weight” rating and issued a $19.00 price objective (down previously from $25.00) on shares of Forum Energy Technologies in a research report on Wednesday, June 21st. Finally, BidaskClub upgraded shares of Forum Energy Technologies from a “sell” rating to a “hold” rating in a research report on Wednesday, June 14th.
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Several institutional investors and hedge funds have recently modified their holdings of FET. BlackRock Inc. boosted its stake in shares of Forum Energy Technologies by 28,940.8% during the 1st quarter. BlackRock Inc. now owns 4,365,706 shares of the oil and gas company’s stock worth $90,370,000 after buying an additional 4,350,673 shares during the last quarter. Aberdeen Asset Management PLC UK grew its holdings in shares of Forum Energy Technologies by 29.8% in the 2nd quarter. Aberdeen Asset Management PLC UK now owns 3,180,777 shares of the oil and gas company’s stock valued at $49,620,000 after acquiring an additional 731,128 shares in the last quarter. Kennedy Capital Management Inc. bought a new position in shares of Forum Energy Technologies in the 1st quarter valued at about $13,033,000. Dimensional Fund Advisors LP grew its holdings in shares of Forum Energy Technologies by 9.1% in the 2nd quarter. Dimensional Fund Advisors LP now owns 5,433,239 shares of the oil and gas company’s stock valued at $84,758,000 after acquiring an additional 455,066 shares in the last quarter. Finally, Barings LLC bought a new position in shares of Forum Energy Technologies in the 1st quarter valued at about $8,429,000.
Shares of Forum Energy Technologies (NYSE:FET) opened at 15.39 on Wednesday. The firm’s market cap is $1.48 billion. The stock has a 50 day moving average price of $12.79 and a 200 day moving average price of $15.60. Forum Energy Technologies has a 12 month low of $10.05 and a 12 month high of $26.25.
Forum Energy Technologies (NYSE:FET) last issued its quarterly earnings data on Thursday, July 27th. The oil and gas company reported ($0.10) earnings per share (EPS) for the quarter, beating the Zacks’ consensus estimate of ($0.11) by $0.01. Forum Energy Technologies had a negative net margin of 18.89% and a negative return on equity of 4.55%. The firm had revenue of $201.10 million during the quarter, compared to analysts’ expectations of $194.16 million. On average, equities research analysts expect that Forum Energy Technologies will post ($0.30) EPS for the current year.
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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