Forum Energy Technologies’ (FET) “Market Perform” Rating Reaffirmed at Cowen
Forum Energy Technologies (NYSE:FET)‘s stock had its “market perform” rating restated by investment analysts at Cowen in a research note issued to investors on Monday, MarketBeat Ratings reports. They presently have a $10.00 target price on the oil and gas company’s stock, down from their prior target price of $13.00. Cowen’s price objective indicates a potential downside of 12.28% from the company’s previous close.
Other research analysts also recently issued research reports about the stock. Zacks Investment Research upgraded shares of Forum Energy Technologies from a “hold” rating to a “buy” rating and set a $16.00 target price on the stock in a research report on Monday, October 16th. Jefferies Group set a $17.00 target price on shares of Forum Energy Technologies and gave the company a “hold” rating in a research report on Thursday, January 4th. Barclays reiterated a “hold” rating and set a $17.00 target price on shares of Forum Energy Technologies in a research report on Sunday, November 5th. B. Riley set a $13.00 target price on shares of Forum Energy Technologies and gave the company a “neutral” rating in a research report on Monday. Finally, Capital One Financial upgraded shares of Forum Energy Technologies from an “equal weight” rating to an “overweight” rating in a report on Friday, February 9th. Two research analysts have rated the stock with a sell rating, twelve have assigned a hold rating and four have assigned a buy rating to the stock. The company has an average rating of “Hold” and an average target price of $16.50.
Forum Energy Technologies (FET) opened at $11.40 on Monday. The company has a debt-to-equity ratio of 0.34, a quick ratio of 1.76 and a current ratio of 3.74. Forum Energy Technologies has a 1 year low of $10.05 and a 1 year high of $23.00. The stock has a market cap of $1,230.00, a price-to-earnings ratio of -17.27 and a beta of 1.70.
A number of institutional investors and hedge funds have recently added to or reduced their stakes in the business. ETRADE Capital Management LLC acquired a new position in Forum Energy Technologies during the fourth quarter worth $213,000. MML Investors Services LLC acquired a new position in Forum Energy Technologies during the fourth quarter worth $159,000. Landscape Capital Management L.L.C. bought a new stake in shares of Forum Energy Technologies in the 4th quarter worth $525,000. Geode Capital Management LLC grew its stake in shares of Forum Energy Technologies by 7.2% in the 4th quarter. Geode Capital Management LLC now owns 618,322 shares of the oil and gas company’s stock worth $9,614,000 after acquiring an additional 41,580 shares in the last quarter. Finally, Amalgamated Bank bought a new stake in shares of Forum Energy Technologies in the 4th quarter worth $167,000. Hedge funds and other institutional investors own 95.12% of the company’s stock.
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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.
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