Shares of Forum Energy Technologies, Inc. (NYSE:FET) have received a consensus rating of “Hold” from the twenty-one ratings firms that are presently covering the company, MarketBeat.com reports. One equities research analyst has rated the stock with a sell rating, ten have given a hold rating and eight have given a buy rating to the company. The average 12 month price objective among brokerages that have issued a report on the stock in the last year is $20.69.
Several research firms have commented on FET. Wolfe Research lowered Forum Energy Technologies from an “outperform” rating to a “market perform” rating and lowered their price objective for the stock from $24.00 to $21.00 in a research report on Monday, April 17th. Credit Suisse Group restated a “buy” rating and issued a $23.00 price objective on shares of Forum Energy Technologies in a research report on Thursday, March 30th. Zacks Investment Research upgraded Forum Energy Technologies from a “hold” rating to a “buy” rating and set a $22.00 target price on the stock in a research report on Tuesday, April 18th. Jefferies Group LLC set a $22.00 target price on Forum Energy Technologies and gave the company a “hold” rating in a research report on Thursday, April 27th. Finally, BidaskClub upgraded Forum Energy Technologies from a “sell” rating to a “hold” rating in a research report on Wednesday, June 14th.
Forum Energy Technologies (NYSE:FET) traded down 0.68% during mid-day trading on Friday, reaching $14.65. 760,425 shares of the company’s stock were exchanged. The firm’s market capitalization is $1.40 billion. The company’s 50-day moving average is $15.75 and its 200 day moving average is $18.80. Forum Energy Technologies has a one year low of $14.05 and a one year high of $26.25.
Forum Energy Technologies (NYSE:FET) last released its quarterly earnings data on Thursday, April 27th. The oil and gas company reported ($0.14) EPS for the quarter, topping the Thomson Reuters’ consensus estimate of ($0.16) by $0.02. Forum Energy Technologies had a negative return on equity of 5.16% and a negative net margin of 12.50%. The business had revenue of $171.10 million for the quarter, compared to analyst estimates of $164.38 million. During the same quarter in the prior year, the firm posted ($0.22) EPS. The business’s quarterly revenue was up 7.3% compared to the same quarter last year. Equities analysts predict that Forum Energy Technologies will post ($0.30) earnings per share for the current fiscal year.
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A number of hedge funds and other institutional investors have recently made changes to their positions in FET. BlackRock Inc. increased its stake in shares of Forum Energy Technologies by 28,940.8% in the first quarter. BlackRock Inc. now owns 4,365,706 shares of the oil and gas company’s stock worth $90,370,000 after buying an additional 4,350,673 shares during the period. Jennison Associates LLC bought a new stake in shares of Forum Energy Technologies during the first quarter worth about $52,681,000. Van ECK Associates Corp bought a new stake in shares of Forum Energy Technologies during the first quarter worth about $25,200,000. Norges Bank bought a new stake in shares of Forum Energy Technologies during the fourth quarter worth about $19,409,000. Finally, Kennedy Capital Management Inc. bought a new stake in shares of Forum Energy Technologies during the first quarter worth about $13,033,000.
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.
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