Forum Energy Technologies (NYSE:FET) had its target price dropped by stock analysts at JPMorgan Chase & Co. from $13.00 to $11.00 in a note issued to investors on Monday. The brokerage presently has a “neutral” rating on the oil and gas company’s stock. JPMorgan Chase & Co.’s price target suggests a potential downside of 3.51% from the company’s current price.

A number of other analysts have also recently issued reports on the company. Cowen set a $13.00 target price on Forum Energy Technologies and gave the stock a “hold” rating in a report on Thursday, January 11th. Jefferies Group set a $17.00 target price on Forum Energy Technologies and gave the stock a “hold” rating in a report on Thursday, January 4th. Zacks Investment Research cut Forum Energy Technologies from a “hold” rating to a “sell” rating in a report on Wednesday, January 3rd. Barclays reiterated a “hold” rating and set a $17.00 target price on shares of Forum Energy Technologies in a report on Sunday, November 5th. Finally, Capital One Financial upgraded Forum Energy Technologies from an “equal weight” rating to an “overweight” rating in a report on Friday, February 9th. Two analysts have rated the stock with a sell rating, twelve have assigned a hold rating and four have given a buy rating to the company’s stock. Forum Energy Technologies has a consensus rating of “Hold” and an average target price of $16.50.

Shares of Forum Energy Technologies (NYSE:FET) opened at $11.40 on Monday. The company has a current ratio of 3.74, a quick ratio of 1.76 and a debt-to-equity ratio of 0.34. Forum Energy Technologies has a fifty-two week low of $10.05 and a fifty-two week high of $23.00. The stock has a market capitalization of $1,230.00, a PE ratio of -17.27 and a beta of 1.70.

Forum Energy Technologies (NYSE:FET) last issued 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 return on equity of 3.11% and a negative net margin of 6.99%. The firm had revenue of $247.70 million for the quarter, compared to analysts’ expectations of $249.85 million. During the same quarter in the previous year, the firm posted ($0.16) EPS. The firm’s revenue for the quarter was up 68.4% compared to the same quarter last year. research analysts expect that Forum Energy Technologies will post 0.15 earnings per share for the current fiscal year.

A number of hedge funds and other institutional investors have recently added to or reduced their stakes in FET. QS Investors LLC boosted its holdings in Forum Energy Technologies by 205.7% in the 2nd quarter. QS Investors LLC now owns 8,323 shares of the oil and gas company’s stock worth $130,000 after acquiring an additional 5,600 shares during the period. Bronfman E.L. Rothschild L.P. boosted its holdings in Forum Energy Technologies by 86.4% in the 3rd quarter. Bronfman E.L. Rothschild L.P. now owns 9,556 shares of the oil and gas company’s stock worth $152,000 after acquiring an additional 4,429 shares during the period. MML Investors Services LLC purchased a new position in Forum Energy Technologies in the 4th quarter worth approximately $159,000. Amalgamated Bank purchased a new position in Forum Energy Technologies in the 4th quarter worth approximately $167,000. Finally, SG Americas Securities LLC purchased a new position in Forum Energy Technologies in the 3rd quarter worth approximately $185,000. 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.

Analyst Recommendations for Forum Energy Technologies (NYSE:FET)

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