Flotek Industries, Inc. (NYSE:FTK) Receives $14.33 Average Price Target from Brokerages

Flotek Industries, Inc. (NYSE:FTKGet Free Report) has been given a consensus recommendation of “Moderate Buy” by the five analysts that are currently covering the firm, Marketbeat reports. Two analysts have rated the stock with a hold recommendation, two have assigned a buy recommendation and one has given a strong buy recommendation to the company. The average twelve-month price objective among brokers that have updated their coverage on the stock in the last year is $14.33.

A number of equities research analysts have recently weighed in on the company. Northland Securities assumed coverage on Flotek Industries in a research note on Tuesday, June 17th. They issued a “market perform” rating and a $16.00 target price for the company. Wall Street Zen lowered Flotek Industries from a “strong-buy” rating to a “buy” rating in a research note on Saturday, June 14th. Northland Capmk raised Flotek Industries to a “hold” rating in a research note on Tuesday, June 17th. Singular Research raised Flotek Industries to a “moderate buy” rating in a research report on Monday, March 17th. Finally, Alliance Global Partners initiated coverage on Flotek Industries in a research report on Thursday, June 12th. They set a “buy” rating and a $19.00 price target for the company.

Get Our Latest Research Report on Flotek Industries

Insider Buying and Selling at Flotek Industries

In other news, Director Matthew Wilks bought 13,040 shares of the firm’s stock in a transaction dated Wednesday, May 14th. The stock was purchased at an average price of $14.15 per share, with a total value of $184,516.00. Following the transaction, the director now owns 157,390 shares of the company’s stock, valued at approximately $2,227,068.50. The trade was a 9.03% increase in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Insiders acquired 149,766 shares of company stock valued at $1,841,758 in the last 90 days. Insiders own 3.02% of the company’s stock.

Institutional Inflows and Outflows

Institutional investors have recently made changes to their positions in the company. Tower Research Capital LLC TRC bought a new position in shares of Flotek Industries in the 4th quarter worth approximately $42,000. Point72 Asia Singapore Pte. Ltd. bought a new position in shares of Flotek Industries in the 4th quarter worth approximately $57,000. Kathmere Capital Management LLC bought a new position in shares of Flotek Industries in the 1st quarter worth approximately $85,000. Victory Capital Management Inc. bought a new position in shares of Flotek Industries in the 1st quarter worth approximately $96,000. Finally, Balyasny Asset Management L.P. bought a new position in shares of Flotek Industries in the 4th quarter worth approximately $99,000. Institutional investors own 10.90% of the company’s stock.

Flotek Industries Trading Down 2.8%

NYSE FTK opened at $14.05 on Tuesday. Flotek Industries has a 1-year low of $3.79 and a 1-year high of $16.87. The stock has a 50-day moving average of $11.99 and a 200-day moving average of $9.64. The firm has a market cap of $419.24 million, a PE ratio of 31.21 and a beta of 1.39.

Flotek Industries (NYSE:FTKGet Free Report) last released its earnings results on Tuesday, May 6th. The oil and gas company reported $0.17 earnings per share for the quarter, beating analysts’ consensus estimates of $0.06 by $0.11. Flotek Industries had a return on equity of 12.76% and a net margin of 7.09%. The company had revenue of $55.36 million during the quarter, compared to analyst estimates of $44.50 million. As a group, equities research analysts forecast that Flotek Industries will post 0.29 earnings per share for the current fiscal year.

Flotek Industries Company Profile

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Flotek Industries, Inc operates as a technology-driven green chemistry and data company that serves customers across industrial and commercial markets in the United States, the United Arab Emirates, and internationally. It operates through two segments: Chemistry Technologies (CT) and Data Analytics (DA).

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Analyst Recommendations for Flotek Industries (NYSE:FTK)

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