Forum Energy Technologies, Inc. (NYSE:FET)‘s stock had its “hold” rating reiterated by Barclays PLC in a research note issued on Sunday. They presently have a $17.00 price target on the oil and gas company’s stock. Barclays PLC’s price target would suggest a potential upside of 21.95% from the company’s previous close.

Several other research analysts also recently commented on the company. Credit Suisse Group downgraded Forum Energy Technologies from an “outperform” rating to a “neutral” rating and reduced their price objective for the company from $23.00 to $12.00 in a research note on Thursday, August 24th. Deutsche Bank AG started coverage on Forum Energy Technologies in a research note on Tuesday, October 10th. They issued a “hold” rating and a $17.00 price objective for the company. Zacks Investment Research downgraded Forum Energy Technologies from a “hold” rating to a “sell” rating in a research note on Monday, July 17th. Cowen and Company set a $11.00 price objective on Forum Energy Technologies and gave the company a “hold” rating in a research note on Friday, October 6th. Finally, Capital One Financial Corporation downgraded Forum Energy Technologies from an “overweight” rating to an “equal weight” rating in a research note on Friday, July 28th. Two equities research analysts have rated the stock with a sell rating, twelve have assigned a hold rating and four have issued a buy rating to the company. The company currently has an average rating of “Hold” and an average target price of $18.63.

Forum Energy Technologies (FET) opened at $13.94 on Friday. Forum Energy Technologies has a 52 week low of $10.05 and a 52 week high of $26.25. The company has a debt-to-equity ratio of 0.34, a current ratio of 3.74 and a quick ratio of 2.21.

Forum Energy Technologies (NYSE:FET) last posted its quarterly earnings data on Tuesday, October 31st. The oil and gas company reported ($0.10) EPS for the quarter, meeting the Thomson Reuters’ consensus estimate of ($0.10). Forum Energy Technologies had a negative return on equity of 3.97% and a negative net margin of 16.85%. The firm had revenue of $198.70 million during the quarter, compared to the consensus estimate of $200.96 million. During the same period in the prior year, the company earned ($0.19) EPS. The firm’s revenue was up 43.7% compared to the same quarter last year. analysts anticipate that Forum Energy Technologies will post -0.35 EPS for the current fiscal year.

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Several hedge funds and other institutional investors have recently added to or reduced their stakes in the company. Suntrust Banks Inc. grew its holdings in shares of Forum Energy Technologies by 0.5% during the 2nd quarter. Suntrust Banks Inc. now owns 14,776 shares of the oil and gas company’s stock worth $229,000 after purchasing an additional 68 shares during the period. US Bancorp DE grew its holdings in shares of Forum Energy Technologies by 8.0% during the 2nd quarter. US Bancorp DE now owns 13,241 shares of the oil and gas company’s stock worth $206,000 after purchasing an additional 986 shares during the period. Nationwide Fund Advisors grew its holdings 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 worth $1,040,000 after purchasing an additional 1,083 shares during the period. Cutler Group LP grew its holdings 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 worth $109,000 after purchasing an additional 1,300 shares during the period. Finally, Texan Capital Management boosted its holdings in Forum Energy Technologies by 8.3% during the 2nd quarter. Texan Capital Management now owns 16,900 shares of the oil and gas company’s stock valued at $264,000 after acquiring an additional 1,300 shares during the period. Institutional investors and hedge funds own 97.19% of the company’s stock.

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.

Analyst Recommendations for Forum Energy Technologies (NYSE:FET)

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