Analysts Set Flotek Industries, Inc. (NYSE:FTK) Price Target at $28.33

Shares of Flotek Industries, Inc. (NYSE:FTK) have earned an average rating of “Moderate Buy” from the five ratings firms that are covering the stock, MarketBeat reports. One investment analyst has rated the stock with a hold rating and four have assigned a buy rating to the company. The average twelve-month price objective among analysts that have issued a report on the stock in the last year is $28.3333.

FTK has been the subject of a number of recent analyst reports. Weiss Ratings raised Flotek Industries from a “hold (c+)” rating to a “buy (b-)” rating in a research report on Wednesday, May 13th. JonesTrading assumed coverage on shares of Flotek Industries in a research report on Thursday, July 9th. They issued a “buy” rating and a $40.00 price target on the stock.

Flotek Industries Trading Down 1.8%

Flotek Industries stock opened at $26.28 on Thursday. The firm has a market cap of $950.92 million, a price-to-earnings ratio of 33.70 and a beta of 1.43. Flotek Industries has a 1 year low of $10.95 and a 1 year high of $27.43. The firm’s 50 day moving average price is $22.06 and its two-hundred day moving average price is $18.73. The company has a debt-to-equity ratio of 0.34, a quick ratio of 1.62 and a current ratio of 1.83.

Flotek Industries (NYSE:FTK) last posted its quarterly earnings data on Tuesday, May 5th. The oil and gas company reported $0.12 EPS for the quarter, missing analysts’ consensus estimates of $0.13 by ($0.01). The firm had revenue of $70.05 million for the quarter, compared to analysts’ expectations of $63.08 million. Flotek Industries had a net margin of 11.83% and a return on equity of 20.70%. On average, research analysts predict that Flotek Industries will post 0.6 EPS for the current fiscal year.

Insider Transactions at Flotek Industries

In related news, CFO James Bond Clement sold 12,554 shares of the firm’s stock in a transaction on Monday, May 18th. The shares were sold at an average price of $20.08, for a total value of $252,084.32. Following the transaction, the chief financial officer directly owned 115,324 shares in the company, valued at approximately $2,315,705.92. This trade represents a 9.82% decrease in their position. The transaction was disclosed in a filing with the SEC, which is available through this link. Insiders own 2.40% of the company’s stock.

Institutional Investors Weigh In On Flotek Industries

Several hedge funds and other institutional investors have recently made changes to their positions in FTK. Quarry LP boosted its stake in Flotek Industries by 97.2% during the 3rd quarter. Quarry LP now owns 3,855 shares of the oil and gas company’s stock valued at $56,000 after purchasing an additional 1,900 shares during the period. New York State Common Retirement Fund bought a new position in Flotek Industries in the 2nd quarter worth approximately $102,000. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. acquired a new position in shares of Flotek Industries during the second quarter worth approximately $115,000. Deutsche Bank AG acquired a new position in shares of Flotek Industries during the fourth quarter worth approximately $150,000. Finally, Mangrove Partners IM LLC bought a new stake in shares of Flotek Industries in the fourth quarter valued at approximately $177,000. 10.90% of the stock is owned by institutional investors and hedge funds.

About Flotek Industries

Flotek Industries, Inc (NYSE: FTK) is a Houston-based oilfield services provider specializing in innovative chemical technologies for the upstream energy sector. The company develops, manufactures and markets specialty drilling fluids, completion fluids and production chemicals that enhance drilling efficiency, optimize well performance and mitigate operational risks. Flotek’s solutions are designed to improve drilling rates of penetration, reduce nonproductive time and address challenging downhole environments, including high-pressure/high-temperature wells and sour service conditions.

Flotek’s operations are organized into three core business segments: Drilling & Completion Fluids, Production Chemicals & Process Management, and Water Solutions.