Forum Energy Technologies (NYSE:FET) received a $13.00 price target from Cowen in a research note issued on Thursday. The firm presently has a “hold” rating on the oil and gas company’s stock. Cowen’s price target would suggest a potential downside of 25.07% from the company’s current price.

FET has been the topic of a number of other reports. Deutsche Bank started coverage on shares of Forum Energy Technologies in a research report on Tuesday, October 10th. They issued a “hold” rating and a $17.00 price target on the stock. Scotiabank set a $24.00 price target on shares of Forum Energy Technologies and gave the company a “hold” rating in a research report on Thursday, October 12th. Barclays reiterated a “hold” rating and issued a $17.00 price target on shares of Forum Energy Technologies in a research report on Sunday, November 5th. Jefferies Group set a $17.00 price target on shares of Forum Energy Technologies and gave the company a “hold” rating in a research report on Thursday, January 4th. Finally, Zacks Investment Research downgraded shares of Forum Energy Technologies from a “buy” rating to a “hold” rating in a research report on Tuesday, October 17th. Two equities research analysts have rated the stock with a sell rating, twelve have given a hold rating and two have given a buy rating to the company’s stock. Forum Energy Technologies presently has an average rating of “Hold” and an average price target of $17.93.

Shares of Forum Energy Technologies (NYSE:FET) opened at $17.35 on Thursday. The firm has a market cap of $1,880.00, a P/E ratio of -13.77 and a beta of 1.66. The company has a debt-to-equity ratio of 0.34, a current ratio of 3.74 and a quick ratio of 1.76. Forum Energy Technologies has a 52-week low of $10.05 and a 52-week high of $26.25.

Forum Energy Technologies (NYSE:FET) last announced its quarterly earnings results on Tuesday, October 31st. The oil and gas company reported ($0.10) earnings per share for the quarter, meeting analysts’ consensus estimates of ($0.10). The business had revenue of $198.70 million for the quarter, compared to the consensus estimate of $200.96 million. Forum Energy Technologies had a negative net margin of 16.85% and a negative return on equity of 3.97%. Forum Energy Technologies’s revenue for the quarter was up 43.7% on a year-over-year basis. During the same period last year, the company posted ($0.19) EPS. research analysts predict that Forum Energy Technologies will post -0.36 earnings per share for the current fiscal year.

Hedge funds and other institutional investors have recently bought and sold shares of the stock. Nationwide Fund Advisors increased its stake in Forum Energy Technologies by 1.7% during the 2nd quarter. Nationwide Fund Advisors now owns 66,648 shares of the oil and gas company’s stock worth $1,040,000 after purchasing an additional 1,083 shares in the last quarter. Goldman Sachs Group Inc. increased its stake in Forum Energy Technologies by 69.7% during the 2nd quarter. Goldman Sachs Group Inc. now owns 186,810 shares of the oil and gas company’s stock worth $2,915,000 after purchasing an additional 76,721 shares in the last quarter. State Street Corp increased its stake in Forum Energy Technologies by 10.8% during the 2nd quarter. State Street Corp now owns 1,770,754 shares of the oil and gas company’s stock worth $27,626,000 after purchasing an additional 172,953 shares in the last quarter. TIAA CREF Investment Management LLC increased its stake in Forum Energy Technologies by 15.8% during the 2nd quarter. TIAA CREF Investment Management LLC now owns 185,211 shares of the oil and gas company’s stock worth $2,889,000 after purchasing an additional 25,267 shares in the last quarter. Finally, Contrarius Investment Management Ltd bought a new stake in Forum Energy Technologies during the 3rd quarter worth approximately $3,883,000. 95.72% of the stock is owned by institutional investors and hedge funds.

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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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