Cowen set a $13.00 price objective on Forum Energy Technologies (NYSE:FET) in a report released on Thursday. The brokerage currently has a hold rating on the oil and gas company’s stock.

FET has been the topic of several other reports. Zacks Investment Research lowered Forum Energy Technologies from a buy rating to a hold rating in a research note on Tuesday, October 17th. Jefferies Group set a $17.00 price objective on Forum Energy Technologies and gave the company a hold rating in a research note on Thursday, January 4th. Citigroup raised their price objective on Forum Energy Technologies from $14.00 to $16.00 and gave the company a neutral rating in a research note on Thursday, October 5th. Deutsche Bank assumed coverage on Forum Energy Technologies in a research note on Tuesday, October 10th. They issued a hold rating and a $17.00 price objective on the stock. Finally, Barclays reaffirmed a hold rating and issued a $17.00 price objective on shares of Forum Energy Technologies in a research note on Sunday, November 5th. Two equities research analysts have rated the stock with a sell rating, twelve have assigned a hold rating and two have issued a buy rating to the company. The company presently has a consensus rating of Hold and an average price target of $17.93.

Shares of Forum Energy Technologies (NYSE FET) opened at $17.35 on Thursday. The company has a quick ratio of 1.76, a current ratio of 3.74 and a debt-to-equity ratio of 0.34. Forum Energy Technologies has a 12 month low of $10.05 and a 12 month high of $26.25.

Forum Energy Technologies (NYSE:FET) last released its quarterly earnings data on Tuesday, October 31st. The oil and gas company reported ($0.10) earnings per share for the quarter, meeting the consensus estimate of ($0.10). The business had revenue of $198.70 million for the quarter, compared to analyst estimates of $200.96 million. Forum Energy Technologies had a negative return on equity of 3.97% and a negative net margin of 16.85%. Forum Energy Technologies’s revenue was up 43.7% compared to the same quarter last year. During the same period last year, the firm posted ($0.19) earnings per share. equities research analysts predict that Forum Energy Technologies will post -0.36 EPS for the current year.

Several hedge funds have recently made changes to their positions in the company. Suntrust Banks Inc. boosted its stake in shares of Forum Energy Technologies by 0.5% during the second quarter. Suntrust Banks Inc. now owns 14,776 shares of the oil and gas company’s stock valued at $229,000 after purchasing an additional 68 shares in the last quarter. Nationwide Fund Advisors boosted its stake in shares of Forum Energy Technologies by 1.7% during the second quarter. Nationwide Fund Advisors now owns 66,648 shares of the oil and gas company’s stock valued at $1,040,000 after purchasing an additional 1,083 shares in the last quarter. Legal & General Group Plc boosted its stake in shares of Forum Energy Technologies by 10.9% during the second quarter. Legal & General Group Plc now owns 26,844 shares of the oil and gas company’s stock valued at $418,000 after purchasing an additional 2,649 shares in the last quarter. Dorsey & Whitney Trust CO LLC boosted its stake in shares of Forum Energy Technologies by 34.1% during the second quarter. Dorsey & Whitney Trust CO LLC now owns 13,717 shares of the oil and gas company’s stock valued at $214,000 after purchasing an additional 3,486 shares in the last quarter. Finally, California State Teachers Retirement System boosted its stake in shares of Forum Energy Technologies by 3.4% during the second quarter. California State Teachers Retirement System now owns 122,266 shares of the oil and gas company’s stock valued at $1,907,000 after purchasing an additional 4,034 shares in the last quarter. 95.72% of the stock is currently owned by hedge funds and other institutional investors.

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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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