Flotek Industries Inc. (FTK) Shares Up 3.3%
Flotek Industries Inc. (NYSE:FTK) shot up 3.3% during mid-day trading on Friday . The company traded as high as $15.91 and last traded at $15.75, with a volume of 358,937 shares traded. The stock had previously closed at $15.25.
A number of brokerages have issued reports on FTK. Zacks Investment Research raised Flotek Industries from a “strong sell” rating to a “hold” rating in a research report on Monday, June 27th. Seaport Global Securities raised Flotek Industries from a “speculative buy” rating to a “buy” rating in a research report on Monday, May 9th. Finally, Stephens reaffirmed a “top pick” rating on shares of Flotek Industries in a research report on Friday, July 15th. One analyst has rated the stock with a sell rating, two have given a hold rating, four have assigned a buy rating and one has issued a strong buy rating to the company’s stock. The company currently has a consensus rating of “Buy” and a consensus target price of $12.98.
The company’s 50-day moving average price is $14.42 and its 200 day moving average price is $11.03. The stock’s market capitalization is $858.77 million.
Flotek Industries (NYSE:FTK) last posted its quarterly earnings data on Tuesday, July 26th. The company reported ($0.04) EPS for the quarter, topping the consensus estimate of ($0.10) by $0.06. The company earned $72.32 million during the quarter, compared to analysts’ expectations of $65 million. The company’s revenue for the quarter was down 16.9% on a year-over-year basis. During the same quarter last year, the company earned $0.02 earnings per share. Equities research analysts predict that Flotek Industries Inc. will post ($0.15) EPS for the current fiscal year.
Flotek Industries, Inc is a technology-driven company that develops and supplies oilfield products, services and equipment to the oil, gas and mining industries. The Company has four business segments: Energy Chemistry Technologies, Consumer and Industrial Chemical Technologies, Drilling Technologies, and Production Technologies.
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