Forum Energy Technologies Inc (NYSE:FET) Receives Average Recommendation of “Hold” from Analysts

Shares of Forum Energy Technologies Inc (NYSE:FET) have earned an average recommendation of “Hold” from the fifteen research firms that are currently covering the firm, Marketbeat Ratings reports. One research analyst has rated the stock with a sell rating, ten have given a hold rating and three have given a buy rating to the company. The average 1-year price target among analysts that have updated their coverage on the stock in the last year is $8.30.

Several equities analysts have commented on the stock. ValuEngine upgraded shares of Forum Energy Technologies from a “sell” rating to a “hold” rating in a report on Thursday, August 1st. Zacks Investment Research downgraded shares of Forum Energy Technologies from a “hold” rating to a “strong sell” rating in a report on Friday, July 26th. Piper Jaffray Companies decreased their price objective on shares of Forum Energy Technologies from $4.25 to $3.00 and set an “overweight” rating on the stock in a report on Tuesday, July 30th. Gabelli downgraded shares of Forum Energy Technologies from a “buy” rating to a “hold” rating in a report on Monday, July 29th. Finally, B. Riley set a $4.00 price objective on shares of Forum Energy Technologies and gave the company a “hold” rating in a report on Friday, July 12th.

Shares of NYSE:FET traded down $0.02 on Friday, hitting $1.46. The company had a trading volume of 25,965 shares, compared to its average volume of 1,492,008. Forum Energy Technologies has a 1-year low of $1.45 and a 1-year high of $12.80. The company has a market cap of $179.91 million, a PE ratio of 73.75 and a beta of 2.31. The stock’s 50 day moving average is $2.54. The company has a current ratio of 3.25, a quick ratio of 1.15 and a debt-to-equity ratio of 0.52.



Forum Energy Technologies (NYSE:FET) last released its quarterly earnings data on Thursday, July 25th. The oil and gas company reported ($0.08) EPS for the quarter, missing the Thomson Reuters’ consensus estimate of ($0.05) by ($0.03). Forum Energy Technologies had a negative net margin of 38.63% and a negative return on equity of 0.20%. The company had revenue of $245.60 million during the quarter, compared to analyst estimates of $254.91 million. During the same quarter in the prior year, the firm earned ($0.01) earnings per share. Forum Energy Technologies’s revenue for the quarter was down 10.4% on a year-over-year basis. On average, equities analysts predict that Forum Energy Technologies will post -0.2 EPS for the current year.

Several institutional investors have recently made changes to their positions in FET. FMR LLC boosted its position in shares of Forum Energy Technologies by 81.7% in the first quarter. FMR LLC now owns 3,014,397 shares of the oil and gas company’s stock valued at $15,404,000 after acquiring an additional 1,355,397 shares during the period. Perella Weinberg Partners Capital Management LP boosted its position in shares of Forum Energy Technologies by 33.4% in the second quarter. Perella Weinberg Partners Capital Management LP now owns 5,004,973 shares of the oil and gas company’s stock valued at $17,117,000 after acquiring an additional 1,252,305 shares during the period. Citadel Advisors LLC boosted its position in shares of Forum Energy Technologies by 51.2% in the second quarter. Citadel Advisors LLC now owns 2,993,929 shares of the oil and gas company’s stock valued at $10,239,000 after acquiring an additional 1,014,101 shares during the period. Nuveen Asset Management LLC bought a new stake in shares of Forum Energy Technologies in the second quarter valued at about $3,096,000. Finally, Deutsche Bank AG boosted its position in shares of Forum Energy Technologies by 128.8% in the fourth quarter. Deutsche Bank AG now owns 1,493,706 shares of the oil and gas company’s stock valued at $6,168,000 after acquiring an additional 840,775 shares during the period. 88.30% of the stock is owned by institutional investors.

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 through 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.

Further Reading: Sell-Side Analysts

Analyst Recommendations for Forum Energy Technologies (NYSE:FET)

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