Cowen Analysts Give Forum Energy Technologies (NYSE:FET) a $13.00 Price Target

Cowen set a $13.00 price target on Forum Energy Technologies (NYSE:FET) in a report issued on Thursday, January 11th. The brokerage currently has a hold rating on the oil and gas company’s stock.

A number of other research firms also recently weighed in on FET. Jefferies Group set a $17.00 price target on shares of Forum Energy Technologies and gave the stock a hold rating in a research note on Thursday, January 4th. Zacks Investment Research downgraded shares of Forum Energy Technologies from a hold rating to a sell rating in a research note on Wednesday, January 3rd. Citigroup increased their price target on shares of Forum Energy Technologies from $14.00 to $16.00 and gave the stock a neutral rating in a research note on Thursday, October 5th. Deutsche Bank assumed coverage on shares of Forum Energy Technologies in a research note on Tuesday, October 10th. They set a hold rating and a $17.00 price target on the stock. Finally, Scotiabank set a $24.00 price target on shares of Forum Energy Technologies and gave the stock a hold rating in a research note on Thursday, October 12th. One analyst has rated the stock with a sell rating, thirteen have given a hold rating and two have issued a buy rating to the stock. The stock currently has a consensus rating of Hold and a consensus price target of $17.93.

Forum Energy Technologies (FET) opened at $17.00 on Thursday. The company has a debt-to-equity ratio of 0.34, a quick ratio of 1.76 and a current ratio of 3.74. The stock has a market cap of $1,840.00, a P/E ratio of -13.49 and a beta of 1.66. 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 announced its quarterly earnings data on Tuesday, October 31st. The oil and gas company reported ($0.10) earnings per share (EPS) for the quarter, meeting the consensus estimate of ($0.10). The business had revenue of $198.70 million for the quarter, compared to the consensus estimate 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 company’s quarterly revenue was up 43.7% compared to the same quarter last year. During the same quarter in the prior year, the firm posted ($0.19) earnings per share. research analysts forecast that Forum Energy Technologies will post -0.36 EPS for the current fiscal year.

Several institutional investors have recently added to or reduced their stakes in the company. Vanguard Group Inc. increased its position in shares of Forum Energy Technologies by 3.8% in the second quarter. Vanguard Group Inc. now owns 5,678,046 shares of the oil and gas company’s stock worth $88,577,000 after acquiring an additional 208,851 shares in the last quarter. Dimensional Fund Advisors LP increased its position in shares of Forum Energy Technologies by 9.1% in the second 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 in the last quarter. Vaughan Nelson Investment Management L.P. increased its position in shares of Forum Energy Technologies by 96.4% in the third 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 in the last quarter. Jennison Associates LLC increased its position in shares of Forum Energy Technologies by 1.7% in the third quarter. Jennison Associates LLC now owns 2,588,049 shares of the oil and gas company’s stock worth $41,150,000 after acquiring an additional 42,861 shares in the last quarter. Finally, Cortina Asset Management LLC increased its position in shares of Forum Energy Technologies by 6.9% in the third quarter. Cortina Asset Management LLC now owns 1,943,276 shares of the oil and gas company’s stock worth $30,898,000 after acquiring an additional 125,339 shares in the last quarter. 95.72% of the stock is owned by institutional investors.

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About Forum Energy Technologies

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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