Jefferies Group LLC Reiterates $17.00 Price Target for Forum Energy Technologies, Inc. (FET)

Jefferies Group LLC set a $17.00 price target on Forum Energy Technologies, Inc. (NYSE:FET) in a research report sent to investors on Thursday. The firm currently has a hold rating on the oil and gas company’s stock.

Several other brokerages also recently weighed in on FET. BidaskClub raised shares of Forum Energy Technologies from a sell rating to a hold rating in a research note on Wednesday, June 14th. Societe Generale assumed coverage on shares of Forum Energy Technologies in a research note on Wednesday, June 7th. They issued a buy rating and a $20.00 target price on the stock. Morgan Stanley reissued an equal weight rating and issued a $19.00 target price (down previously from $25.00) on shares of Forum Energy Technologies in a research note on Wednesday, June 21st. Zacks Investment Research downgraded shares of Forum Energy Technologies from a hold rating to a sell rating in a research note on Monday, July 17th. Finally, Citigroup Inc. increased their target price on shares of Forum Energy Technologies from $14.00 to $16.00 and gave the company a neutral rating in a research note on Thursday. One investment analyst has rated the stock with a sell rating, twelve have given a hold rating and five have assigned a buy rating to the stock. The company currently has an average rating of Hold and an average price target of $19.27.

Forum Energy Technologies (NYSE:FET) opened at 15.00 on Thursday. The firm has a 50 day moving average of $13.17 and a 200-day moving average of $15.57. The stock’s market cap is $1.44 billion. 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 released its quarterly earnings data on Thursday, July 27th. The oil and gas company reported ($0.10) EPS for the quarter, beating the Thomson Reuters’ consensus estimate of ($0.11) by $0.01. Forum Energy Technologies had a negative net margin of 18.89% and a negative return on equity of 4.55%. The business had revenue of $201.10 million during the quarter, compared to analyst estimates of $194.16 million. Equities analysts anticipate that Forum Energy Technologies will post ($0.30) earnings per share for the current fiscal year.

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Hedge funds and other institutional investors have recently bought and sold shares of the business. Ameritas Investment Partners Inc. purchased a new position in Forum Energy Technologies during the 1st quarter valued at about $107,000. Cutler Group LP increased its position in Forum Energy Technologies by 22.8% during the 2nd quarter. Cutler Group LP now owns 7,000 shares of the oil and gas company’s stock valued at $109,000 after purchasing an additional 1,300 shares during the period. D.A. Davidson & CO. purchased a new position in Forum Energy Technologies during the 2nd quarter valued at about $116,000. Independent Portfolio Consultants Inc. increased its position in Forum Energy Technologies by 1,150.8% during the 2nd quarter. Independent Portfolio Consultants Inc. now owns 7,505 shares of the oil and gas company’s stock valued at $117,000 after purchasing an additional 6,905 shares during the period. Finally, QS Investors LLC increased its position in Forum Energy Technologies by 205.7% during the 2nd quarter. QS Investors LLC now owns 8,323 shares of the oil and gas company’s stock valued at $130,000 after purchasing an additional 5,600 shares during the period.

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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