Research analysts at DA Davidson started coverage on shares of Forum Energy Technologies Inc. (NYSE:FET) in a research report issued on Wednesday. The brokerage set a “buy” rating and a $25.00 price target on the stock. DA Davidson’s price target would indicate a potential upside of 15.74% from the company’s previous close.

A number of other brokerages also recently weighed in on FET. Morgan Stanley set a $23.00 target price on Forum Energy Technologies and gave the stock a “hold” rating in a research note on Tuesday, September 20th. Credit Suisse Group AG set a $19.00 price objective on Forum Energy Technologies and gave the company a “buy” rating in a research note on Monday, August 1st. Scotiabank reiterated a “sector perform” rating and issued a $19.00 price objective (up previously from $16.00) on shares of Forum Energy Technologies in a research note on Friday, June 17th. Capital One Financial Corp. upgraded Forum Energy Technologies from an “equal weight” rating to an “overweight” rating in a research note on Tuesday, August 16th. Finally, Simmons reiterated a “neutral” rating and issued a $18.00 price objective (up previously from $15.25) on shares of Forum Energy Technologies in a research note on Thursday, July 7th. Two research analysts have rated the stock with a sell rating, twelve have assigned a hold rating and ten have assigned a buy rating to the company’s stock. The stock currently has a consensus rating of “Hold” and an average target price of $17.75.

Forum Energy Technologies (NYSE:FET) opened at 21.60 on Wednesday. The company’s market cap is $1.96 billion. Forum Energy Technologies has a 52 week low of $8.47 and a 52 week high of $21.70. The stock has a 50 day moving average price of $18.40 and a 200 day moving average price of $16.52.

Forum Energy Technologies (NYSE:FET) last announced its earnings results on Friday, July 29th. The company reported ($0.19) earnings per share for the quarter, topping analysts’ consensus estimates of ($0.26) by $0.07. Forum Energy Technologies had a negative return on equity of 3.20% and a negative net margin of 28.04%. The firm had revenue of $142.80 million for the quarter, compared to the consensus estimate of $143.17 million. During the same quarter in the previous year, the business earned $0.16 EPS. The company’s revenue was down 49.8% compared to the same quarter last year. On average, equities analysts forecast that Forum Energy Technologies will post ($0.78) earnings per share for the current year.

A number of hedge funds and other institutional investors have recently added to or reduced their stakes in FET. Public Employees Retirement System of Ohio boosted its position in Forum Energy Technologies by 13.8% in the second quarter. Public Employees Retirement System of Ohio now owns 5,774 shares of the company’s stock worth $100,000 after buying an additional 700 shares in the last quarter. Teacher Retirement System of Texas boosted its position in Forum Energy Technologies by 7.2% in the second quarter. Teacher Retirement System of Texas now owns 8,274 shares of the company’s stock worth $143,000 after buying an additional 555 shares in the last quarter. BNP Paribas Arbitrage SA boosted its position in Forum Energy Technologies by 55.6% in the third quarter. BNP Paribas Arbitrage SA now owns 7,519 shares of the company’s stock worth $149,000 after buying an additional 2,688 shares in the last quarter. Virginia Retirement Systems ET AL purchased a new position in Forum Energy Technologies during the second quarter worth approximately $175,000. Finally, Legal & General Group Plc boosted its position in Forum Energy Technologies by 28.9% in the first quarter. Legal & General Group Plc now owns 15,001 shares of the company’s stock worth $198,000 after buying an additional 3,364 shares in the last quarter.

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. It operates through two segments: Drilling & Subsea, and Production & Infrastructure. Its product offering includes a mix of engineered capital products and replaced items that are used in the exploration, development, production and transportation of oil and natural gas.

5 Day Chart for NYSE:FET

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