Forum Energy Technologies (FET) PT Set at $13.00 by Piper Jaffray Companies

Forum Energy Technologies (NYSE:FET) has been assigned a $13.00 price target by Piper Jaffray Companies in a research note issued to investors on Monday. The brokerage currently has a “hold” rating on the oil and gas company’s stock. Piper Jaffray Companies’ target price points to a potential upside of 13.54% from the stock’s current price.

Several other brokerages have also recently commented on FET. Zacks Investment Research upgraded 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 research report on Monday, October 16th. Barclays reiterated a “hold” rating and set a $17.00 target price on shares of Forum Energy Technologies in a research report on Sunday, November 5th. JPMorgan Chase & Co. dropped their target price on shares of Forum Energy Technologies from $13.00 to $11.00 and set a “neutral” rating for the company in a research report on Monday. Cowen reiterated a “market perform” rating and set a $10.00 target price (down previously from $13.00) on shares of Forum Energy Technologies in a research report on Monday. Finally, B. Riley set a $13.00 target price on shares of Forum Energy Technologies and gave the company a “neutral” rating in a research report on Monday. Two research analysts have rated the stock with a sell rating, twelve have assigned a hold rating and four have assigned a buy rating to the stock. Forum Energy Technologies currently has an average rating of “Hold” and a consensus price target of $16.51.

Forum Energy Technologies (NYSE:FET) opened at $11.45 on Monday. 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 has a 1 year low of $10.05 and a 1 year high of $23.00. The firm has a market cap of $1,270.14, a P/E ratio of -17.62 and a beta of 1.70.

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

Several hedge funds have recently made changes to their positions in the company. Vanguard Group Inc. grew its holdings in shares of Forum Energy Technologies by 3.8% in the 2nd quarter. Vanguard Group Inc. now owns 5,678,046 shares of the oil and gas company’s stock valued at $88,577,000 after buying an additional 208,851 shares during the period. BlackRock Inc. grew its holdings in shares of Forum Energy Technologies by 9.9% in the 4th quarter. BlackRock Inc. now owns 5,334,366 shares of the oil and gas company’s stock valued at $82,950,000 after buying an additional 480,874 shares during the period. Standard Life Aberdeen plc grew its holdings in shares of Forum Energy Technologies by 15.9% in the 4th quarter. Standard Life Aberdeen plc now owns 4,754,589 shares of the oil and gas company’s stock valued at $74,053,000 after buying an additional 652,914 shares during the period. Vaughan Nelson Investment Management L.P. grew its holdings in shares of Forum Energy Technologies by 33.1% in the 4th quarter. Vaughan Nelson Investment Management L.P. now owns 4,714,850 shares of the oil and gas company’s stock valued at $73,315,000 after buying an additional 1,173,825 shares during the period. Finally, Jennison Associates LLC grew its holdings in shares of Forum Energy Technologies by 1.7% in the 3rd quarter. Jennison Associates LLC now owns 2,588,049 shares of the oil and gas company’s stock valued at $41,150,000 after buying an additional 42,861 shares during the period. 95.12% of the stock is owned by institutional investors.

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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)

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