Forum Energy Technologies, Inc. (NYSE:FET) has received an average rating of “Hold” from the twenty analysts that are covering the company, Marketbeat.com reports. One analyst has rated the stock with a sell rating, thirteen have assigned a hold rating and four have assigned a buy rating to the company. The average 1 year price target among brokers that have updated their coverage on the stock in the last year is $18.73.

Several brokerages have commented on FET. Zacks Investment Research downgraded shares of Forum Energy Technologies from a “buy” rating to a “hold” rating in a report on Tuesday, October 17th. BidaskClub upgraded shares of Forum Energy Technologies from a “sell” rating to a “hold” rating in a research report on Wednesday, July 5th. Cowen and Company lowered their price objective on shares of Forum Energy Technologies from $15.00 to $11.00 and set a “market perform” rating on the stock in a research report on Tuesday, August 1st. Citigroup Inc. raised their price objective on shares of Forum Energy Technologies from $14.00 to $16.00 and gave the company a “neutral” rating in a research report on Thursday, October 5th. Finally, Barclays PLC cut shares of Forum Energy Technologies from an “overweight” rating to an “equal weight” rating and lowered their price objective for the company from $24.00 to $16.00 in a research report on Wednesday, July 12th.

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Institutional investors and hedge funds have recently made changes to their positions in the company. Nationwide Fund Advisors boosted its stake in shares of Forum Energy Technologies by 1.7% during the 2nd quarter. Nationwide Fund Advisors now owns 66,648 shares of the oil and gas company’s stock valued at $1,040,000 after purchasing an additional 1,083 shares in the last quarter. Eagle Asset Management Inc. boosted its stake in shares of Forum Energy Technologies by 4.6% during the 2nd quarter. Eagle Asset Management Inc. now owns 841,395 shares of the oil and gas company’s stock valued at $13,125,000 after purchasing an additional 37,103 shares in the last quarter. Moody Aldrich Partners LLC boosted its stake in shares of Forum Energy Technologies by 31.6% during the 2nd quarter. Moody Aldrich Partners LLC now owns 30,665 shares of the oil and gas company’s stock valued at $478,000 after purchasing an additional 7,370 shares in the last quarter. Vanguard Group Inc. boosted its stake in shares of Forum Energy Technologies by 3.9% during the 1st quarter. Vanguard Group Inc. now owns 5,469,195 shares of the oil and gas company’s stock valued at $113,213,000 after purchasing an additional 205,452 shares in the last quarter. Finally, Cutler Group LP boosted its stake in shares of Forum Energy Technologies by 22.8% during the 2nd quarter. Cutler Group LP now owns 7,000 shares of the oil and gas company’s stock valued at $109,000 after purchasing an additional 1,300 shares in the last quarter. 95.59% of the stock is currently owned by hedge funds and other institutional investors.

Forum Energy Technologies (FET) opened at 13.30 on Friday. Forum Energy Technologies has a 12 month low of $10.05 and a 12 month high of $26.25. The firm’s market capitalization is $1.28 billion. The firm’s 50-day moving average is $14.35 and its 200 day moving average is $14.94.

Forum Energy Technologies (NYSE:FET) last announced its quarterly earnings results on Thursday, July 27th. The oil and gas company reported ($0.10) EPS for the quarter, beating the Thomson Reuters’ 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 the consensus estimate of $194.16 million. On average, analysts expect that Forum Energy Technologies will post ($0.33) EPS for the current fiscal year.

About Forum Energy Technologies

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.

Analyst Recommendations for Forum Energy Technologies (NYSE:FET)

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