Forum Energy Technologies (NYSE:FET) has been given a $13.00 target price by analysts at Cowen in a research report issued on Thursday. The firm presently has a “hold” rating on the oil and gas company’s stock. Cowen’s target price points to a potential downside of 25.07% from the stock’s previous close.

A number of other analysts also recently issued reports on FET. Zacks Investment Research downgraded shares of Forum Energy Technologies from a “hold” rating to a “sell” rating in a report on Wednesday, January 3rd. Jefferies Group set a $17.00 price target on shares of Forum Energy Technologies and gave the company a “hold” rating in a report on Thursday, January 4th. Citigroup raised their price target on shares of Forum Energy Technologies from $14.00 to $16.00 and gave the company a “neutral” rating in a report on Thursday, October 5th. Scotiabank set a $24.00 price target on shares of Forum Energy Technologies and gave the company a “hold” rating in a report on Thursday, October 12th. Finally, Barclays reaffirmed a “hold” rating and set a $17.00 price target on shares of Forum Energy Technologies in a report on Sunday, November 5th. Two equities research analysts have rated the stock with a sell rating, twelve have assigned a hold rating and two have given a buy rating to the company’s stock. The company presently has an average rating of “Hold” and an average target price of $17.93.

Shares of Forum Energy Technologies (NYSE FET) opened at $17.35 on Thursday. Forum Energy Technologies has a 1 year low of $10.05 and a 1 year high of $26.25. The company has a quick ratio of 1.76, a current ratio of 3.74 and a debt-to-equity ratio of 0.34.

Forum Energy Technologies (NYSE:FET) last announced 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 net margin of 16.85% and a negative return on equity of 3.97%. The company had revenue of $198.70 million for the quarter, compared to the consensus estimate of $200.96 million. During the same period in the prior year, the firm posted ($0.19) EPS. Forum Energy Technologies’s revenue for the quarter was up 43.7% on a year-over-year basis. equities analysts expect that Forum Energy Technologies will post -0.36 earnings per share for the current year.

Several institutional investors and hedge funds have recently bought and sold shares of the stock. Vanguard Group Inc. boosted its holdings in shares of Forum Energy Technologies by 3.8% in the second quarter. Vanguard Group Inc. now owns 5,678,046 shares of the oil and gas company’s stock worth $88,577,000 after buying an additional 208,851 shares during the last quarter. Dimensional Fund Advisors LP boosted its holdings in shares of Forum Energy Technologies by 9.1% in 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 buying an additional 455,066 shares during the last quarter. Vaughan Nelson Investment Management L.P. boosted its holdings in shares of Forum Energy Technologies by 96.4% in the third quarter. Vaughan Nelson Investment Management L.P. now owns 3,541,025 shares of the oil and gas company’s stock worth $56,302,000 after buying an additional 1,738,375 shares during the last quarter. Jennison Associates LLC boosted its holdings in shares of Forum Energy Technologies by 1.7% in the third quarter. Jennison Associates LLC now owns 2,588,049 shares of the oil and gas company’s stock worth $41,150,000 after buying an additional 42,861 shares during the last quarter. Finally, Cortina Asset Management LLC boosted its holdings in shares of Forum Energy Technologies by 6.9% in the third quarter. Cortina Asset Management LLC now owns 1,943,276 shares of the oil and gas company’s stock worth $30,898,000 after buying an additional 125,339 shares during the last quarter. 95.72% of the stock is currently owned by institutional investors.

WARNING: “Forum Energy Technologies (FET) Given a $13.00 Price Target by Cowen Analysts” was first reported by American Banking News and is the sole property of of American Banking News. If you are viewing this piece of content on another publication, it was illegally stolen and reposted in violation of United States & international trademark and copyright laws. The legal version of this piece of content can be viewed at https://www.americanbankingnews.com/2018/01/14/forum-energy-technologies-fet-given-a-13-00-price-target-by-cowen-analysts.html.

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)

Receive News & Ratings for Forum Energy Technologies Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Forum Energy Technologies and related companies with MarketBeat.com's FREE daily email newsletter.