Shares of Forum Energy Technologies Inc. (NYSE:FET) were down 2.5% during mid-day trading on Friday . The company traded as low as $16.42 and last traded at $16.44, with a volume of 153,773 shares. The stock had previously closed at $16.86.

Several analysts have issued reports on the stock. Morgan Stanley increased their price objective on shares of Forum Energy Technologies from $10.50 to $14.50 and gave the company an “equal weight” rating in a research report on Tuesday, April 19th. Howard Weil increased their price objective on shares of Forum Energy Technologies from $16.00 to $19.00 and gave the company a “sector perform” rating in a research report on Thursday, June 16th. GMP Securities downgraded shares of Forum Energy Technologies from a “buy” rating to a “hold” rating in a research report on Monday, April 18th. Credit Suisse Group AG reaffirmed a “hold” rating on shares of Forum Energy Technologies in a research report on Monday, June 13th. Finally, Scotiabank reaffirmed 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 report on Friday, June 17th. Two investment analysts have rated the stock with a sell rating, thirteen have assigned a hold rating and seven have assigned a buy rating to the stock. The stock presently has a consensus rating of “Hold” and a consensus target price of $16.03.

The company’s 50-day moving average price is $16.26 and its 200 day moving average price is $14.55. The firm’s market cap is $1.50 billion.

Forum Energy Technologies (NYSE:FET) last issued its quarterly earnings results on Friday, July 29th. The company reported ($0.19) EPS for the quarter, topping the Thomson Reuters’ consensus estimate of ($0.26) by $0.07. The business earned $142.80 million during the quarter, compared to the consensus estimate of $143.17 million. During the same period in the prior year, the firm earned $0.16 earnings per share. The business’s quarterly revenue was down 49.8% on a year-over-year basis. On average, equities research analysts predict that Forum Energy Technologies Inc. will post ($0.78) EPS for the current fiscal year.

Other hedge funds and institutional investors have modified their holdings of the company. Stephens Investment Management Group LLC increased its position in shares of Forum Energy Technologies by 11.0% in the fourth quarter. Stephens Investment Management Group LLC now owns 839,686 shares of the company’s stock valued at $10,462,000 after buying an additional 83,050 shares in the last quarter. Royce & Associates LLC increased its position in shares of Forum Energy Technologies by 184.6% in the fourth quarter. Royce & Associates LLC now owns 204,919 shares of the company’s stock valued at $2,553,000 after buying an additional 132,919 shares in the last quarter. Wells Fargo & Company MN increased its position in shares of Forum Energy Technologies by 3.5% in the fourth quarter. Wells Fargo & Company MN now owns 2,128,840 shares of the company’s stock valued at $26,525,000 after buying an additional 71,046 shares in the last quarter. State of Wisconsin Investment Board increased its position in shares of Forum Energy Technologies by 52.3% in the fourth quarter. State of Wisconsin Investment Board now owns 316,945 shares of the company’s stock valued at $3,949,000 after buying an additional 108,852 shares in the last quarter. Finally, New York State Common Retirement Fund increased its position in shares of Forum Energy Technologies by 93.9% in the fourth quarter. New York State Common Retirement Fund now owns 110,333 shares of the company’s stock valued at $1,375,000 after buying an additional 53,433 shares in the last quarter.

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.

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