Forum Energy Technologies (FET) PT Set at $13.00 by Cowen

Forum Energy Technologies (NYSE:FET) has been assigned a $13.00 price objective by equities researchers at Cowen in a report issued on Thursday. The firm currently has a “hold” rating on the oil and gas company’s stock. Cowen’s target price would suggest a potential downside of 24.86% from the company’s previous close.

A number of other equities research analysts also recently weighed in on the company. Deutsche Bank started coverage on Forum Energy Technologies in a research report on Tuesday, October 10th. They set a “hold” rating and a $17.00 target price on the stock. Barclays reissued a “hold” rating and set a $17.00 target price on shares of Forum Energy Technologies in a research report on Sunday, November 5th. Jefferies Group set a $17.00 target price on Forum Energy Technologies and gave the stock a “hold” rating in a research report on Thursday, October 5th. Scotiabank set a $24.00 target price on Forum Energy Technologies and gave the stock a “hold” rating in a research report on Thursday, October 12th. Finally, Zacks Investment Research downgraded Forum Energy Technologies from a “hold” rating to a “sell” rating in a research report on Friday, November 3rd. Two equities research analysts have rated the stock with a sell rating, twelve have issued a hold rating and two have issued a buy rating to the stock. The company has an average rating of “Hold” and an average target price of $17.93.

Forum Energy Technologies (NYSE:FET) opened at $17.30 on Thursday. Forum Energy Technologies has a 12 month low of $10.05 and a 12 month high of $26.25. The company has a market capitalization of $1,870.00, a PE ratio of -13.73 and a beta of 1.66. The company has a debt-to-equity ratio of 0.34, a current ratio of 3.74 and a quick ratio of 1.76.

Forum Energy Technologies (NYSE:FET) last released its earnings results on Tuesday, October 31st. The oil and gas company reported ($0.10) earnings per share for the quarter, hitting analysts’ consensus estimates 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 for the quarter, compared to the consensus estimate of $200.96 million. During the same period last year, the business earned ($0.19) earnings per share. The firm’s revenue for the quarter was up 43.7% compared to the same quarter last year. research analysts predict that Forum Energy Technologies will post -0.36 EPS for the current fiscal year.

A number of hedge funds and other institutional investors have recently added to or reduced their stakes in FET. Schwab Charles Investment Management Inc. boosted its holdings in Forum Energy Technologies by 10.8% during the second quarter. Schwab Charles Investment Management Inc. now owns 475,504 shares of the oil and gas company’s stock valued at $7,418,000 after purchasing an additional 46,451 shares in the last quarter. Rhumbline Advisers boosted its holdings in Forum Energy Technologies by 16.8% during the second quarter. Rhumbline Advisers now owns 85,909 shares of the oil and gas company’s stock valued at $1,340,000 after purchasing an additional 12,377 shares in the last quarter. Bank of New York Mellon Corp boosted its holdings in Forum Energy Technologies by 10.5% during the second quarter. Bank of New York Mellon Corp now owns 462,834 shares of the oil and gas company’s stock valued at $7,221,000 after purchasing an additional 44,146 shares in the last quarter. Legal & General Group Plc boosted its holdings in Forum Energy Technologies by 10.9% during the second quarter. Legal & General Group Plc now owns 26,844 shares of the oil and gas company’s stock valued at $418,000 after purchasing an additional 2,649 shares in the last quarter. Finally, BNP Paribas Arbitrage SA boosted its holdings in Forum Energy Technologies by 280.5% during the second quarter. BNP Paribas Arbitrage SA now owns 9,368 shares of the oil and gas company’s stock valued at $146,000 after purchasing an additional 6,906 shares in the last quarter. 95.72% of the stock is currently owned by institutional investors.

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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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