Forum Energy Technologies Inc. (NYSE:FET) received a $23.00 target price from Morgan Stanley in a research note issued to investors on Tuesday. The firm presently has a a “hold” rating on the stock. Morgan Stanley’s price target would suggest a potential upside of 33.64% from the stock’s current price.

Several other brokerages also recently commented on FET. Credit Suisse Group AG set a $19.00 price objective on shares of Forum Energy Technologies and gave the stock a “buy” rating in a research report on Monday, August 1st. Scotiabank reiterated a “sector perform” rating and issued a $19.00 target price (up from $16.00) on shares of Forum Energy Technologies in a report on Friday, June 17th. Capital One Financial Corp. upgraded Forum Energy Technologies from an “equal weight” rating to an “overweight” rating in a report on Tuesday, August 16th. Simmons reiterated a “neutral” rating and issued a $18.00 target price (up from $15.25) on shares of Forum Energy Technologies in a report on Thursday, July 7th. Finally, Howard Weil increased their target price on Forum Energy Technologies from $16.00 to $19.00 and gave the stock a “sector perform” rating in a report on Thursday, June 16th. Two equities research analysts have rated the stock with a sell rating, thirteen have assigned a hold rating and eight have given a buy rating to the company’s stock. The company presently has a consensus rating of “Hold” and an average price target of $16.89.

Forum Energy Technologies (NYSE:FET) traded up 5.317% during trading on Tuesday, hitting $18.125. 317,334 shares of the company’s stock traded hands. The company’s market cap is $1.64 billion. Forum Energy Technologies has a 52-week low of $8.47 and a 52-week high of $19.32. The company’s 50 day moving average price is $17.52 and its 200 day moving average price is $16.02.

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

Large investors have recently made changes to their positions in the company. Vanguard Group Inc. raised its stake in shares of Forum Energy Technologies by 4.2% in the second quarter. Vanguard Group Inc. now owns 4,564,736 shares of the company’s stock valued at $79,015,000 after buying an additional 181,996 shares during the period. Dimensional Fund Advisors LP raised its stake in shares of Forum Energy Technologies by 42.1% in the second quarter. Dimensional Fund Advisors LP now owns 3,697,698 shares of the company’s stock valued at $64,004,000 after buying an additional 1,095,172 shares during the period. Wellington Management Group LLP raised its stake in shares of Forum Energy Technologies by 0.3% in the first quarter. Wellington Management Group LLP now owns 3,673,186 shares of the company’s stock valued at $48,485,000 after buying an additional 11,064 shares during the period. Massachusetts Financial Services Co. MA raised its stake in shares of Forum Energy Technologies by 5.8% in the second quarter. Massachusetts Financial Services Co. MA now owns 2,774,895 shares of the company’s stock valued at $48,034,000 after buying an additional 152,771 shares during the period. Finally, Champlain Investment Partners LLC raised its stake in shares of Forum Energy Technologies by 23.4% in the first quarter. Champlain Investment Partners LLC now owns 2,686,550 shares of the company’s stock valued at $35,462,000 after buying an additional 510,275 shares during the period.

About Forum Energy Technologies

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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