Forum Energy Technologies, Inc. (NYSE:FET) Given a $24.00 Price Target by Scotiabank Analysts

Scotiabank set a $24.00 price target on Forum Energy Technologies, Inc. (NYSE:FET) in a research report report published on Monday, July 31st. The firm currently has a hold rating on the oil and gas company’s stock.

Several other research firms also recently commented on FET. Zacks Investment Research raised shares of Forum Energy Technologies from a hold rating to a buy rating and set a $22.00 price objective on the stock in a report on Tuesday, April 18th. TheStreet downgraded shares of Forum Energy Technologies from a c- rating to a d+ rating in a report on Thursday, May 25th. Wolfe Research downgraded shares of Forum Energy Technologies from an outperform rating to a market perform rating and dropped their price objective for the company from $24.00 to $21.00 in a report on Monday, April 17th. Deutsche Bank AG reaffirmed a buy rating and set a $25.00 price objective (down from $26.00) on shares of Forum Energy Technologies in a report on Tuesday, May 30th. Finally, Morgan Stanley reaffirmed an equal weight rating and set a $19.00 price objective (down from $25.00) on shares of Forum Energy Technologies in a report on Wednesday, June 21st. One equities research analyst has rated the stock with a sell rating, eleven have assigned a hold rating and six have issued a buy rating to the company’s stock. The stock has a consensus rating of Hold and an average price target of $20.50.

Forum Energy Technologies (NYSE FET) opened at 10.50 on Monday. The company has a 50-day moving average price of $13.88 and a 200-day moving average price of $17.51. Forum Energy Technologies has a 1-year low of $10.35 and a 1-year high of $26.25. The firm’s market capitalization is $1.01 billion.

Forum Energy Technologies (NYSE:FET) last posted its quarterly earnings results on Thursday, July 27th. The oil and gas company reported ($0.10) earnings per share for the quarter, beating the Thomson Reuters’ consensus estimate of ($0.11) by $0.01. The company had revenue of $201.10 million during the quarter, compared to analyst estimates of $194.16 million. Forum Energy Technologies had a negative net margin of 18.89% and a negative return on equity of 4.55%. On average, equities research analysts predict that Forum Energy Technologies will post ($0.31) earnings per share for the current fiscal year.

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Several hedge funds and other institutional investors have recently modified their holdings of the company. Ameritas Investment Partners Inc. purchased a new position in shares of Forum Energy Technologies during the first quarter valued at about $107,000. Cutler Group LP boosted its position in shares of Forum Energy Technologies by 22.8% in the second quarter. Cutler Group LP now owns 7,000 shares of the oil and gas company’s stock valued at $109,000 after buying an additional 1,300 shares in the last quarter. D.A. Davidson & CO. purchased a new position in shares of Forum Energy Technologies during the second quarter valued at about $116,000. Independent Portfolio Consultants Inc. boosted its position in shares of Forum Energy Technologies by 1,150.8% in the second quarter. Independent Portfolio Consultants Inc. now owns 7,505 shares of the oil and gas company’s stock valued at $117,000 after buying an additional 6,905 shares in the last quarter. Finally, QS Investors LLC boosted its position in shares of Forum Energy Technologies by 205.7% in the second quarter. QS Investors LLC now owns 8,323 shares of the oil and gas company’s stock valued at $130,000 after buying an additional 5,600 shares in 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. The Company operates through three segments: Drilling & Subsea, Completions, and Production & Infrastructure.

Analyst Recommendations for Forum Energy Technologies (NYSE:FET)

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