Capital One Financial Upgrades Forum Energy Technologies (FET) to Overweight

Forum Energy Technologies (NYSE:FET) was upgraded by analysts at Capital One Financial from an “equal weight” rating to an “overweight” rating in a research report issued on Friday, The Fly reports.

A number of other research firms also recently commented 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 24th. Cowen set a $13.00 price objective on shares of Forum Energy Technologies and gave the stock a “hold” rating in a report on Thursday, January 11th. Jefferies Group set a $17.00 price objective on shares of Forum Energy Technologies and gave the stock a “hold” rating in a report on Thursday, January 4th. Scotiabank set a $24.00 price objective on shares of Forum Energy Technologies and gave the stock a “hold” rating in a report on Thursday, October 12th. Finally, Barclays reissued a “hold” rating and set a $17.00 price target on shares of Forum Energy Technologies in a report on Sunday, November 5th. Two analysts have rated the stock with a sell rating, eleven have assigned a hold rating and three have assigned a buy rating to the stock. Forum Energy Technologies has an average rating of “Hold” and an average price target of $17.93.

Forum Energy Technologies (NYSE FET) traded down $2.15 during trading hours on Friday, hitting $11.75. 7,232,711 shares of the stock were exchanged, compared to its average volume of 1,129,022. The company has a market cap of $1,250.00, a P/E ratio of -9.38 and a beta of 1.70. Forum Energy Technologies has a one year low of $10.05 and a one 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 released its quarterly earnings data on Thursday, February 8th. The oil and gas company reported ($0.04) EPS for the quarter, missing analysts’ consensus estimates of ($0.03) by ($0.01). The business had revenue of $247.70 million for the quarter, compared to the consensus estimate of $249.85 million. Forum Energy Technologies had a negative return on equity of 3.97% and a negative net margin of 16.85%. Forum Energy Technologies’s revenue was up 68.4% on a year-over-year basis. During the same period in the previous year, the business posted ($0.16) earnings per share. equities research analysts predict that Forum Energy Technologies will post -0.36 earnings per share for the current fiscal year.

A number of institutional investors and hedge funds have recently bought and sold shares of FET. QS Investors LLC increased its position in Forum Energy Technologies by 205.7% in the 2nd quarter. QS Investors LLC now owns 8,323 shares of the oil and gas company’s stock valued at $130,000 after acquiring an additional 5,600 shares in the last quarter. Bronfman E.L. Rothschild L.P. increased its position in Forum Energy Technologies by 86.4% in the 3rd quarter. Bronfman E.L. Rothschild L.P. now owns 9,556 shares of the oil and gas company’s stock valued at $152,000 after acquiring an additional 4,429 shares in the last quarter. SG Americas Securities LLC acquired a new stake in Forum Energy Technologies in the 3rd quarter valued at about $185,000. MHI Funds LLC acquired a new stake in Forum Energy Technologies in the 4th quarter valued at about $218,000. Finally, Suntrust Banks Inc. increased its position in Forum Energy Technologies by 0.5% in the 2nd quarter. Suntrust Banks Inc. now owns 14,776 shares of the oil and gas company’s stock valued at $229,000 after acquiring an additional 68 shares in the last quarter. Hedge funds and other institutional investors own 96.25% of the company’s stock.

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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.

The Fly

Analyst Recommendations for Forum Energy Technologies (NYSE:FET)

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