Zacks Investment Research Lowers Forum Energy Technologies, Inc. (FET) to Hold

Forum Energy Technologies, Inc. (NYSE:FET) was downgraded by Zacks Investment Research from a “buy” rating to a “hold” rating in a research report issued to clients and investors on Tuesday.

According to Zacks, “Forum Energy Technologies is a global oilfield products company, serving the subsea, drilling, completion, production and infrastructure sectors of the oil and natural gas industry. The Company designs and manufactures products, and engages in aftermarket services, parts supply and related services that complement the Company’s product offering. “

FET has been the subject of a number of other reports. Morgan Stanley reiterated an “equal weight” rating and issued a $19.00 price target (down from $25.00) on shares of Forum Energy Technologies in a research report on Wednesday, June 21st. BidaskClub downgraded shares of Forum Energy Technologies from a “hold” rating to a “sell” rating in a research report on Friday, June 23rd. Guggenheim downgraded shares of Forum Energy Technologies from a “buy” rating to a “neutral” rating in a research report on Tuesday, June 27th. Jefferies Group LLC set a $17.00 price target on shares of Forum Energy Technologies and gave the company a “hold” rating in a research report on Thursday, July 6th. Finally, Cowen and Company reiterated a “hold” rating and issued a $15.00 price target on shares of Forum Energy Technologies in a research report on Tuesday, July 11th. One investment analyst has rated the stock with a sell rating, thirteen have given a hold rating and four have assigned a buy rating to the company. The company presently has a consensus rating of “Hold” and an average target price of $18.56.

Shares of Forum Energy Technologies (NYSE FET) traded down 1.07% during trading on Tuesday, reaching $13.90. The company had a trading volume of 506,327 shares. The firm has a 50 day moving average price of $13.88 and a 200 day moving average price of $15.37. Forum Energy Technologies has a 12 month low of $10.05 and a 12 month high of $26.25. The company’s market cap is $1.34 billion.

Forum Energy Technologies (NYSE:FET) last issued its quarterly earnings data on Thursday, July 27th. The oil and gas company reported ($0.10) earnings per share (EPS) for the quarter, topping the Thomson Reuters’ consensus estimate of ($0.11) by $0.01. The firm had revenue of $201.10 million during the quarter, compared to the consensus estimate of $194.16 million. Forum Energy Technologies had a negative net margin of 18.89% and a negative return on equity of 4.55%. Analysts predict that Forum Energy Technologies will post ($0.31) earnings per share for the current year.

ILLEGAL ACTIVITY WARNING: “Zacks Investment Research Lowers Forum Energy Technologies, Inc. (FET) to Hold” was first reported by The Ledger Gazette and is the sole property of of The Ledger Gazette. If you are reading this story on another publication, it was illegally stolen and reposted in violation of U.S. and international trademark & copyright law. The correct version of this story can be viewed at https://ledgergazette.com/2017/10/17/zacks-investment-research-lowers-forum-energy-technologies-inc-fet-to-hold.html.

Institutional investors have recently modified their holdings of the stock. Eagle Asset Management Inc. grew its stake in shares of Forum Energy Technologies by 4.6% in the second quarter. Eagle Asset Management Inc. now owns 841,395 shares of the oil and gas company’s stock worth $13,125,000 after purchasing an additional 37,103 shares during the last quarter. Moody Aldrich Partners LLC grew its stake in shares of Forum Energy Technologies by 31.6% in the second quarter. Moody Aldrich Partners LLC now owns 30,665 shares of the oil and gas company’s stock worth $478,000 after purchasing an additional 7,370 shares during the last quarter. Vanguard Group Inc. grew its stake in shares of Forum Energy Technologies by 3.9% in the first quarter. Vanguard Group Inc. now owns 5,469,195 shares of the oil and gas company’s stock worth $113,213,000 after purchasing an additional 205,452 shares during the last quarter. Cutler Group LP grew its stake in shares of 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 worth $109,000 after purchasing an additional 1,300 shares during the last quarter. Finally, Texan Capital Management grew its stake in shares of 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 worth $264,000 after purchasing an additional 1,300 shares during the last quarter. 95.64% of the stock is currently owned by institutional investors.

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.

NYSE FET) traded down 1.07% during trading on Tuesday, reaching $13.90. The company had a trading volume of 506,327 shares. The firm has a 50 day moving average price of $13.88 and a 200 day moving average price of $15.37. Forum Energy Technologies has a 12 month low of $10.05 and a 12 month high of $26.25. The company’s market cap is $1.34 billion.

Forum Energy Technologies (NYSE:FET) last issued its quarterly earnings data on Thursday, July 27th. The oil and gas company reported ($0.10) earnings per share (EPS) for the quarter, topping the Thomson Reuters’ consensus estimate of ($0.11) by $0.01. The firm had revenue of $201.10 million during the quarter, compared to the consensus estimate of $194.16 million. Forum Energy Technologies had a negative net margin of 18.89% and a negative return on equity of 4.55%. Analysts predict that Forum Energy Technologies will post ($0.31) earnings per share for the current year.

ILLEGAL ACTIVITY WARNING: “Zacks Investment Research Lowers Forum Energy Technologies, Inc. (FET) to Hold” was first reported by The Ledger Gazette and is the sole property of of The Ledger Gazette. If you are reading this story on another publication, it was illegally stolen and reposted in violation of U.S. and international trademark & copyright law. The correct version of this story can be viewed at https://ledgergazette.com/2017/10/17/zacks-investment-research-lowers-forum-energy-technologies-inc-fet-to-hold.html.

Institutional investors have recently modified their holdings of the stock. Eagle Asset Management Inc. grew its stake in shares of Forum Energy Technologies by 4.6% in the second quarter. Eagle Asset Management Inc. now owns 841,395 shares of the oil and gas company’s stock worth $13,125,000 after purchasing an additional 37,103 shares during the last quarter. Moody Aldrich Partners LLC grew its stake in shares of Forum Energy Technologies by 31.6% in the second quarter. Moody Aldrich Partners LLC now owns 30,665 shares of the oil and gas company’s stock worth $478,000 after purchasing an additional 7,370 shares during the last quarter. Vanguard Group Inc. grew its stake in shares of Forum Energy Technologies by 3.9% in the first quarter. Vanguard Group Inc. now owns 5,469,195 shares of the oil and gas company’s stock worth $113,213,000 after purchasing an additional 205,452 shares during the last quarter. Cutler Group LP grew its stake in shares of 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 worth $109,000 after purchasing an additional 1,300 shares during the last quarter. Finally, Texan Capital Management grew its stake in shares of 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 worth $264,000 after purchasing an additional 1,300 shares during the last quarter. 95.64% of the stock is currently owned by institutional investors.

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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