Stock analysts at DA Davidson began coverage on shares of Forum Energy Technologies Inc. (NYSE:FET) in a research report issued to clients and investors on Wednesday. The firm set a “buy” rating and a $25.00 price target on the stock. DA Davidson’s price objective would indicate a potential upside of 15.74% from the stock’s current price.
A number of other analysts also recently weighed in on the stock. Barclays PLC upgraded shares of Forum Energy Technologies from an “equal weight” rating to an “overweight” rating and boosted their target price for the stock from $19.00 to $23.00 in a report on Friday, September 23rd. Morgan Stanley set a $23.00 target price on shares of Forum Energy Technologies and gave the stock a “hold” rating in a report on Tuesday, September 20th. Gabelli began coverage on shares of Forum Energy Technologies in a report on Thursday, September 15th. They issued a “hold” rating and a $21.00 target price on the stock. Citigroup Inc. boosted their target price on shares of Forum Energy Technologies from $18.00 to $19.00 and gave the stock a “neutral” rating in a report on Monday, September 12th. Finally, Capital One Financial Corp. upgraded shares of Forum Energy Technologies from an “equal weight” rating to an “overweight” rating in a report on Tuesday, August 16th. Two investment analysts have rated the stock with a sell rating, twelve have issued a hold rating and ten have issued a buy rating to the company. The company currently has a consensus rating of “Hold” and a consensus target price of $17.75.
Shares of Forum Energy Technologies (NYSE:FET) opened at 21.60 on Wednesday. Forum Energy Technologies has a one year low of $8.47 and a one year high of $21.70. The firm has a 50-day moving average of $18.40 and a 200 day moving average of $16.52. The stock’s market capitalization is $1.96 billion.
Forum Energy Technologies (NYSE:FET) last posted its earnings results on Friday, July 29th. The company reported ($0.19) earnings per share for the quarter, topping analysts’ consensus estimates of ($0.26) by $0.07. Forum Energy Technologies had a negative net margin of 28.04% and a negative return on equity of 3.20%. The firm had revenue of $142.80 million for the quarter, compared to the consensus estimate of $143.17 million. During the same period in the previous year, the firm posted $0.16 EPS. The business’s quarterly revenue was down 49.8% on a year-over-year basis. On average, equities research analysts predict that Forum Energy Technologies will post ($0.78) EPS for the current year.
A number of large investors have recently bought and sold shares of FET. BNP Paribas Arbitrage SA boosted its stake in Forum Energy Technologies by 55.6% in the third quarter. BNP Paribas Arbitrage SA now owns 7,519 shares of the company’s stock worth $149,000 after buying an additional 2,688 shares during the last quarter. Public Employees Retirement System of Ohio boosted its stake in Forum Energy Technologies by 13.8% in the second quarter. Public Employees Retirement System of Ohio now owns 5,774 shares of the company’s stock worth $100,000 after buying an additional 700 shares during the last quarter. Schwab Charles Investment Management Inc. boosted its stake in Forum Energy Technologies by 14.2% in the second quarter. Schwab Charles Investment Management Inc. now owns 345,344 shares of the company’s stock worth $5,978,000 after buying an additional 42,861 shares during the last quarter. GLG Partners LP purchased a new stake in Forum Energy Technologies during the second quarter worth approximately $3,990,000. Finally, Silvercrest Asset Management Group LLC boosted its stake in Forum Energy Technologies by 11.0% in the second quarter. Silvercrest Asset Management Group LLC now owns 2,399,380 shares of the company’s stock worth $41,533,000 after buying an additional 238,344 shares during the last quarter.
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. It operates through two segments: Drilling & Subsea, and Production & Infrastructure. Its product offering includes a mix of engineered capital products and replaced items that are used in the exploration, development, production and transportation of oil and natural gas.
Receive News & Ratings for Forum Energy Technologies Inc. Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Forum Energy Technologies Inc. and related companies with MarketBeat.com's FREE daily email newsletter.