Forum Energy Technologies (FET) PT Lowered to $16.00

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.

Forum Energy Technologies (NYSE:FET) last posted its earnings results on Thursday, February 8th. The oil and gas company reported ($0.04) earnings per share for the quarter, missing analysts’ consensus estimates of ($0.03) by ($0.01). Forum Energy Technologies had a negative net margin of 6.99% and a negative return on equity of 3.11%. The business had revenue of $247.70 million during the quarter, compared to analysts’ expectations of $249.85 million. During the same period last year, the business posted ($0.16) earnings per share. The company’s revenue for the quarter was up 68.4% compared to the same quarter last year. research analysts anticipate that Forum Energy Technologies will post 0.15 EPS for the current fiscal year.

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.

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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.

Analyst Recommendations for Forum Energy Technologies (NYSE:FET)

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