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.

Forum Energy Technologies (NYSE:FET) last released its earnings results on Thursday, February 8th. The oil and gas company reported ($0.04) earnings per share (EPS) for the quarter, missing the Zacks’ consensus estimate of ($0.03) by ($0.01). Forum Energy Technologies had a negative net margin of 6.99% and a negative return on equity of 3.11%. The company had revenue of $247.70 million for the quarter, compared to analyst estimates of $249.85 million. During the same quarter in the previous year, the firm earned ($0.16) EPS. The firm’s revenue was up 68.4% on a year-over-year basis. research analysts expect that Forum Energy Technologies will post 0.15 earnings per share for the current fiscal year.

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.

ILLEGAL ACTIVITY NOTICE: “Forum Energy Technologies’ (FET) “Market Perform” Rating Reaffirmed at Cowen” was originally posted by TheOlympiaReport and is the property of of TheOlympiaReport. If you are reading this story on another website, it was illegally stolen and republished in violation of US and international copyright laws. The legal version of this story can be accessed at https://theolympiareport.com/2018/02/14/forum-energy-technologies-fet-market-perform-rating-reaffirmed-at-cowen.html.

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)

Receive News & Ratings for Forum Energy Technologies Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Forum Energy Technologies and related companies with MarketBeat.com's FREE daily email newsletter.