Analysts Set Forum Energy Technologies, Inc. (FET) Price Target at $18.73

Forum Energy Technologies, Inc. (NYSE:FET) has earned an average recommendation of “Hold” from the twenty analysts that are currently covering the company, MarketBeat reports. Two investment analysts have rated the stock with a sell rating, twelve have issued a hold rating and four have issued a buy rating on the company. The average 12 month target price among brokers that have updated their coverage on the stock in the last year is $18.73.

Several research firms have recently commented on FET. Zacks Investment Research cut Forum Energy Technologies from a “hold” rating to a “sell” rating in a research note on Friday. Scotiabank set a $24.00 price target on Forum Energy Technologies and gave the stock a “hold” rating in a research note on Thursday, October 12th. Deutsche Bank AG began coverage on Forum Energy Technologies in a research note on Tuesday, October 10th. They set a “hold” rating and a $17.00 price target for the company. Cowen and Company set a $11.00 price target on Forum Energy Technologies and gave the stock a “hold” rating in a research note on Friday, October 6th. Finally, Jefferies Group LLC set a $17.00 price target on Forum Energy Technologies and gave the stock a “hold” rating in a research note on Thursday, October 5th.

A number of institutional investors have recently bought and sold shares of the business. Suntrust Banks Inc. grew its holdings in Forum Energy Technologies by 0.5% in 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 last quarter. US Bancorp DE grew its holdings in Forum Energy Technologies by 8.0% in the second quarter. US Bancorp DE now owns 13,241 shares of the oil and gas company’s stock valued at $206,000 after purchasing an additional 986 shares during the last quarter. Nationwide Fund Advisors grew its holdings in Forum Energy Technologies by 1.7% in the second quarter. Nationwide Fund Advisors now owns 66,648 shares of the oil and gas company’s stock valued at $1,040,000 after purchasing an additional 1,083 shares during the last quarter. Cutler Group LP grew its holdings in Forum Energy Technologies by 22.8% in the second quarter. Cutler Group LP now owns 7,000 shares of the oil and gas company’s stock valued at $109,000 after purchasing an additional 1,300 shares during the last quarter. Finally, Texan Capital Management grew its holdings in Forum Energy Technologies by 8.3% in the second quarter. Texan Capital Management now owns 16,900 shares of the oil and gas company’s stock valued at $264,000 after purchasing an additional 1,300 shares during the last quarter. 97.19% of the stock is currently owned by institutional investors.

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Forum Energy Technologies (NYSE FET) traded down $0.76 during trading on Friday, hitting $13.94. The stock had a trading volume of 1,530,758 shares, compared to its average volume of 801,110. The company has a current ratio of 3.74, a quick ratio of 2.21 and a debt-to-equity ratio of 0.34.

Forum Energy Technologies (NYSE:FET) last released its quarterly earnings results on Tuesday, October 31st. The oil and gas company reported ($0.10) EPS for the quarter, hitting the Thomson Reuters’ consensus estimate of ($0.10). Forum Energy Technologies had a negative return on equity of 3.97% and a negative net margin of 16.85%. The business had revenue of $198.70 million during the quarter, compared to analysts’ expectations of $200.96 million. During the same quarter in the prior year, the business earned ($0.19) earnings per share. The company’s quarterly revenue was up 43.7% compared to the same quarter last year. research analysts forecast that Forum Energy Technologies will post -0.35 EPS for the current fiscal year.

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.

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