ValuEngine upgraded shares of Forum Energy Technologies (NYSE:FET) from a strong sell rating to a sell rating in a research note released on Thursday morning.
FET has been the subject of several other research reports. Deutsche Bank lowered their price objective on shares of Forum Energy Technologies from $17.00 to $16.00 and set a hold rating for the company in a research note on Monday, February 12th. Piper Jaffray Companies set a $13.00 price objective on shares of Forum Energy Technologies and gave the company a hold rating in a research note on Monday, February 12th. Barclays set a $15.00 price objective on shares of Forum Energy Technologies and gave the company a hold rating in a research note on Monday, February 12th. Zacks Investment Research upgraded shares of Forum Energy Technologies from a sell rating to a hold rating in a research note on Wednesday, January 17th. Finally, Jefferies Group upgraded shares of Forum Energy Technologies from a hold rating to a buy rating and set a $15.00 price objective for the company in a research note on Tuesday, February 13th. Two investment analysts have rated the stock with a sell rating, twelve have given a hold rating and three have issued a buy rating to the company. The stock has a consensus rating of Hold and a consensus price target of $15.00.
Shares of NYSE FET opened at $15.40 on Thursday. The company has a market capitalization of $1.68 billion, a PE ratio of -40.53 and a beta of 1.88. Forum Energy Technologies has a 52-week low of $10.05 and a 52-week high of $17.97. The company has a debt-to-equity ratio of 0.32, a quick ratio of 1.31 and a current ratio of 3.47.
Forum Energy Technologies (NYSE:FET) last issued its quarterly earnings results on Tuesday, May 1st. The oil and gas company reported ($0.07) earnings per share (EPS) for the quarter, missing the Zacks’ consensus estimate of ($0.05) by ($0.02). The firm had revenue of $250.20 million during the quarter, compared to analyst estimates of $245.23 million. Forum Energy Technologies had a negative return on equity of 2.40% and a negative net margin of 1.48%. equities research analysts expect that Forum Energy Technologies will post 0.02 EPS for the current year.
In other Forum Energy Technologies news, CEO Prady Iyyanki purchased 90,000 shares of the firm’s stock in a transaction on Friday, March 2nd. The stock was acquired at an average price of $10.63 per share, for a total transaction of $956,700.00. Following the purchase, the chief executive officer now owns 443,417 shares of the company’s stock, valued at approximately $4,713,522.71. The purchase was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link. Insiders own 30.00% of the company’s stock.
Hedge funds have recently made changes to their positions in the business. MML Investors Services LLC bought a new stake in Forum Energy Technologies during the 4th quarter valued at $159,000. Two Sigma Investments LP bought a new stake in Forum Energy Technologies during the 4th quarter valued at $163,000. Sei Investments Co. increased its stake in Forum Energy Technologies by 71.7% during the 1st quarter. Sei Investments Co. now owns 10,651 shares of the oil and gas company’s stock valued at $117,000 after purchasing an additional 4,448 shares in the last quarter. Amalgamated Bank bought a new stake in Forum Energy Technologies during the 4th quarter valued at $167,000. Finally, ETRADE Capital Management LLC bought a new stake in Forum Energy Technologies during the 4th quarter valued at $213,000. Institutional investors and hedge funds own 92.89% of the company’s stock.
About Forum Energy Technologies
Forum Energy Technologies, Inc designs, manufactures, and distributes products to the oil and natural gas industry in the United States and internationally. The company operates in three segments: Drilling & Subsea, Completions, and Production & Infrastructure. The Drilling & Subsea segment designs and manufactures products, and provides related services to the drilling, energy subsea construction and service markets, and other markets, such as alternative energy, defense, and communications.
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