Gabelli assumed coverage on shares of Forum Energy Technologies Inc. (NYSE:FET) in a report published on Thursday. The firm issued a hold rating and a $21.00 price target on the stock.

A number of other equities research analysts have also recently commented on FET. Deutsche Bank AG reaffirmed a buy rating on shares of Forum Energy Technologies in a report on Sunday, May 22nd. Citigroup Inc. reduced their price objective on shares of Forum Energy Technologies from $17.00 to $16.00 and set a neutral rating for the company in a research note on Wednesday, August 3rd. Credit Suisse Group AG upgraded shares of Forum Energy Technologies from a neutral rating to an outperform rating and set a $18.00 price objective for the company in a research note on Monday, July 18th. Jefferies Group reduced their price objective on shares of Forum Energy Technologies from $19.00 to $18.00 and set a hold rating for the company in a research note on Monday, July 11th. Finally, Capital One Financial Corp. reiterated an equal weight rating on shares of Forum Energy Technologies in a research note on Friday, July 29th. Two analysts have rated the stock with a sell rating, thirteen have assigned a hold rating and eight have assigned a buy rating to the company’s stock. Forum Energy Technologies presently has a consensus rating of Hold and a consensus target price of $16.45.

Forum Energy Technologies (NYSE:FET) opened at 17.09 on Thursday. Forum Energy Technologies has a 52 week low of $8.47 and a 52 week high of $19.32. The company’s market capitalization is $1.55 billion. The stock has a 50 day moving average price of $17.47 and a 200-day moving average price of $15.99.

Forum Energy Technologies (NYSE:FET) last posted its quarterly earnings results on Friday, July 29th. The company reported ($0.19) EPS for the quarter, topping analysts’ consensus estimates of ($0.26) by $0.07. The company had revenue of $142.80 million for the quarter, compared to analysts’ expectations of $143.17 million. Forum Energy Technologies had a negative net margin of 28.04% and a negative return on equity of 3.20%. Forum Energy Technologies’s revenue was down 49.8% on a year-over-year basis. During the same quarter in the previous year, the firm posted $0.16 EPS. On average, equities analysts predict that Forum Energy Technologies will post ($0.78) earnings per share for the current fiscal year.

A number of hedge funds have recently bought and sold shares of FET. Teacher Retirement System of Texas increased its stake in Forum Energy Technologies by 7.2% in the second quarter. Teacher Retirement System of Texas now owns 8,274 shares of the company’s stock valued at $143,000 after buying an additional 555 shares in the last quarter. Metropolitan Life Insurance Co. NY increased its stake in Forum Energy Technologies by 1.5% in the first quarter. Metropolitan Life Insurance Co. NY now owns 44,535 shares of the company’s stock valued at $588,000 after buying an additional 678 shares in the last quarter. Public Employees Retirement System of Ohio increased its stake in Forum Energy Technologies by 13.8% in the second quarter. Public Employees Retirement System of Ohio now owns 5,774 shares of the company’s stock valued at $100,000 after buying an additional 700 shares in the last quarter. First Republic Investment Management Inc. increased its stake in Forum Energy Technologies by 4.9% in the first quarter. First Republic Investment Management Inc. now owns 15,142 shares of the company’s stock valued at $200,000 after buying an additional 712 shares in the last quarter. Finally, Teachers Advisors Inc. increased its stake in Forum Energy Technologies by 0.8% in the first quarter. Teachers Advisors Inc. now owns 88,351 shares of the company’s stock valued at $1,166,000 after buying an additional 719 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. 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.

5 Day Chart for NYSE:FET

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