Jefferies Group Analysts Give Forum Energy Technologies (FET) a $17.00 Price Target

Forum Energy Technologies (NYSE:FET) received a $17.00 price target from equities research analysts at Jefferies Group in a report issued on Thursday. The brokerage currently has a “hold” rating on the oil and gas company’s stock. Jefferies Group’s price objective indicates a potential upside of 4.94% from the company’s previous close.

A number of other research firms have also recently issued reports on FET. Zacks Investment Research cut shares of Forum Energy Technologies from a “hold” rating to a “sell” rating in a research report on Wednesday. Citigroup increased their price objective on shares of Forum Energy Technologies from $14.00 to $16.00 and gave the stock a “neutral” rating in a research report on Thursday, October 5th. Deutsche Bank began coverage on shares of Forum Energy Technologies in a research report on Tuesday, October 10th. They set a “hold” rating and a $17.00 price objective on the stock. Cowen set a $11.00 price objective on shares of Forum Energy Technologies and gave the stock a “hold” rating in a research report on Friday, October 6th. Finally, Scotiabank set a $24.00 price objective on shares of Forum Energy Technologies and gave the stock a “hold” rating in a research report on Thursday, October 12th. Two investment analysts have rated the stock with a sell rating, twelve have assigned a hold rating and two have assigned a buy rating to the stock. Forum Energy Technologies currently has a consensus rating of “Hold” and a consensus target price of $17.79.

Forum Energy Technologies (FET) traded down $0.25 during mid-day trading on Thursday, hitting $16.20. 1,441,000 shares of the stock were exchanged, compared to its average volume of 1,372,300. The company has a market cap of $1,778.19, a PE ratio of -12.86 and a beta of 1.66. The company has a quick ratio of 1.76, a current ratio of 3.74 and a debt-to-equity ratio of 0.34. Forum Energy Technologies has a one year low of $10.05 and a one year high of $26.25.

Forum Energy Technologies (NYSE:FET) last released its quarterly earnings data on Tuesday, October 31st. The oil and gas company reported ($0.10) earnings per share (EPS) for the quarter, hitting the Zacks’ consensus estimate of ($0.10). The company had revenue of $198.70 million for the quarter, compared to analysts’ expectations of $200.96 million. Forum Energy Technologies had a negative net margin of 16.85% and a negative return on equity of 3.97%. The business’s revenue was up 43.7% on a year-over-year basis. During the same quarter in the prior year, the firm earned ($0.19) EPS. research analysts forecast that Forum Energy Technologies will post -0.36 EPS for the current year.

Several institutional investors and hedge funds have recently bought and sold shares of FET. Vaughan Nelson Investment Management L.P. raised its holdings in shares of Forum Energy Technologies by 96.4% in the 3rd quarter. Vaughan Nelson Investment Management L.P. now owns 3,541,025 shares of the oil and gas company’s stock worth $56,302,000 after acquiring an additional 1,738,375 shares during the last quarter. Citadel Advisors LLC acquired a new stake in shares of Forum Energy Technologies in the 3rd quarter worth about $19,272,000. Boston Partners acquired a new stake in shares of Forum Energy Technologies in the 3rd quarter worth about $14,297,000. Aberdeen Asset Management PLC UK raised its holdings in shares of Forum Energy Technologies by 29.8% in the 2nd quarter. Aberdeen Asset Management PLC UK now owns 3,180,777 shares of the oil and gas company’s stock worth $49,620,000 after acquiring an additional 731,128 shares during the last quarter. Finally, Dimensional Fund Advisors LP raised its holdings in shares of Forum Energy Technologies by 9.1% in the 2nd quarter. Dimensional Fund Advisors LP now owns 5,433,239 shares of the oil and gas company’s stock worth $84,758,000 after acquiring an additional 455,066 shares during the last quarter. Institutional investors own 95.72% of the company’s stock.

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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.

Analyst Recommendations for Forum Energy Technologies (NYSE:FET)

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