Forum Energy Technologies (NYSE:FET) had its price target reduced by equities researchers at Deutsche Bank from $17.00 to $16.00 in a research report issued to clients and investors on Monday. The brokerage currently has a “hold” rating on the oil and gas company’s stock. Deutsche Bank’s target price points to a potential upside of 39.74% from the stock’s previous close.
Other research analysts have also issued reports about the stock. Zacks Investment Research raised shares of Forum Energy Technologies from a “hold” rating to a “buy” rating and set a $16.00 target price for the company in a report on Monday, October 16th. Barclays reissued a “hold” rating and issued a $17.00 target price on shares of Forum Energy Technologies in a report on Sunday, November 5th. Cowen set a $13.00 price objective on shares of Forum Energy Technologies and gave the stock a “hold” rating in a research note 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 research note on Thursday, January 4th. Finally, B. Riley set a $13.00 price objective on shares of Forum Energy Technologies and gave the stock a “neutral” rating in a research note on Monday. Two investment analysts have rated the stock with a sell rating, twelve have issued a hold rating and three have given a buy rating to the company’s stock. Forum Energy Technologies has a consensus rating of “Hold” and a consensus price target of $16.87.
Forum Energy Technologies (NYSE FET) traded down $0.30 during mid-day trading on Monday, hitting $11.45. 4,234,523 shares of the company were exchanged, compared to its average volume of 1,236,108. Forum Energy Technologies has a 1 year low of $10.05 and a 1 year high of $23.00. The company has a debt-to-equity ratio of 0.34, a quick ratio of 1.76 and a current ratio of 3.74. The stock has a market capitalization of $1,270.00, a price-to-earnings ratio of -17.58 and a beta of 1.70.
Hedge funds and other institutional investors have recently bought and sold shares of the business. QS Investors LLC boosted its stake in Forum Energy Technologies by 205.7% during the second quarter. QS Investors LLC now owns 8,323 shares of the oil and gas company’s stock worth $130,000 after buying an additional 5,600 shares during the period. Bronfman E.L. Rothschild L.P. boosted its stake in shares of Forum Energy Technologies by 86.4% during the third 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 purchasing an additional 4,429 shares during the period. SG Americas Securities LLC purchased a new stake in shares of Forum Energy Technologies during the third quarter valued at $185,000. MHI Funds LLC purchased a new stake in shares of Forum Energy Technologies during the fourth quarter valued at $218,000. Finally, Suntrust Banks Inc. boosted its stake in shares of Forum Energy Technologies by 0.5% during the second quarter. Suntrust Banks Inc. now owns 14,776 shares of the oil and gas company’s stock valued at $229,000 after purchasing an additional 68 shares during the period. 95.12% of the stock is owned by institutional investors.
ILLEGAL ACTIVITY WARNING: This piece was originally published by American Banking News and is the property of of American Banking News. If you are viewing this piece on another publication, it was illegally copied and republished in violation of international copyright law. The legal version of this piece can be viewed at https://www.americanbankingnews.com/2018/02/12/forum-energy-technologies-fet-pt-lowered-to-16-00.html.
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.
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.