Cowen and Company cut shares of Forum Energy Technologies Inc (NYSE:FET) from an outperform rating to a market perform rating in a research note released on Friday morning. The firm currently has $18.00 price objective on the stock.

Other analysts have also recently issued reports about the stock. Iberia Capital upgraded shares of Forum Energy Technologies from a sector perform rating to an outperform rating and boosted their price objective for the stock from $18.00 to $21.00 in a research note on Monday, August 1st. Citigroup Inc. boosted their price objective on shares of Forum Energy Technologies from $16.00 to $17.00 and gave the stock a neutral rating in a research note on Wednesday, July 13th. JPMorgan Chase & Co. cut shares of Forum Energy Technologies from a neutral rating to an underweight rating and set a $10.00 price objective for the company. in a research note on Tuesday, July 12th. Credit Suisse Group AG upgraded shares of Forum Energy Technologies from a neutral rating to an outperform rating and set a $18.00 price objective for the company in a research note on Monday, July 18th. Finally, Howard Weil boosted their price objective on shares of Forum Energy Technologies from $16.00 to $19.00 and gave the stock a sector perform rating in a research note on Thursday, June 16th. Two equities research analysts have rated the stock with a sell rating, twelve have issued a hold rating and nine have assigned a buy rating to the stock. The company currently has an average rating of Hold and a consensus target price of $17.95.

Analyst Recommendations for Forum Energy Technologies (NYSE:FET)

Forum Energy Technologies (NYSE:FET) traded down 1.64% during mid-day trading on Friday, hitting $21.00. 291,440 shares of the stock traded hands. The firm’s market cap is $1.90 billion. The stock has a 50 day moving average price of $19.02 and a 200 day moving average price of $16.87. Forum Energy Technologies has a 12-month low of $8.47 and a 12-month high of $22.85.

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

Institutional investors have recently modified their holdings of the company. Hillman Co. boosted its position in shares of Forum Energy Technologies by 12.0% in the second quarter. Hillman Co. now owns 2,035,252 shares of the company’s stock valued at $35,230,000 after buying an additional 218,821 shares in the last quarter. Silvercrest Asset Management Group LLC boosted its position in shares of Forum Energy Technologies by 10.8% in the first quarter. Silvercrest Asset Management Group LLC now owns 2,161,036 shares of the company’s stock valued at $28,525,000 after buying an additional 210,384 shares in the last quarter. Viking Fund Management LLC boosted its position in shares of Forum Energy Technologies by 37.5% in the third quarter. Viking Fund Management LLC now owns 880,000 shares of the company’s stock valued at $17,477,000 after buying an additional 240,000 shares in the last quarter. Wellington Management Group LLP boosted its position in shares of Forum Energy Technologies by 0.3% in the first quarter. Wellington Management Group LLP now owns 3,673,186 shares of the company’s stock valued at $48,485,000 after buying an additional 11,064 shares in the last quarter. Finally, Dimensional Fund Advisors LP increased its stake in Forum Energy Technologies by 42.1% in the second quarter. Dimensional Fund Advisors LP now owns 3,697,698 shares of the company’s stock valued at $64,004,000 after buying an additional 1,095,172 shares during the last quarter.

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. 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

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