Forum Energy Technologies Inc (FET) is Downgraded by Cowen to Market Perform, Price Target at $18

Forum Energy Technologies Inc (FET) was Downgraded by Cowen to ” Market Perform” and the brokerage firm has set the Price Target at $18. Earlier the firm had a rating of “Outperform ” on the company shares. Cowen advised their investors in a research report released on Oct 14, 2016.

Many Wall Street Analysts have commented on Forum Energy Technologies Inc. Forum Energy Technologies Inc was Upgraded by CapitalOne to ” Overweight” on Aug 16, 2016. Forum Energy Technologies Inc was Upgraded by Iberia to ” Outperform” on Aug 1, 2016. Forum Energy Technologies Inc was Upgraded by Credit Suisse to ” Outperform” on Jul 18, 2016.

On the company’s financial health, Forum Energy Technologies Inc reported $-0.19 EPS for the quarter, beating the analyst consensus estimate by $ 0.07 according to the earnings call on Jul 28, 2016. Analyst had a consensus of $-0.26. The company had revenue of $142.80 million for the quarter, compared to analysts expectations of $142.10 million. The company’s revenue was down -49.8 % compared to the same quarter last year.During the same quarter in the previous year, the company posted $0.16 EPS.

Forum Energy Technologies Inc closed down -0.3 points or -1.34% at $22.05 with 9,98,195 shares getting traded on Tuesday. Post opening the session at $22.15, the shares hit an intraday low of $21.55 and an intraday high of $22.15 and the price fluctuated in this range throughout the day.Shares ended Tuesday session in Red.

In a different news, on Sep 8, 2015, Evelyn M Angelle (director) purchased 26,000 shares at $15.00 per share price. According to the SEC, on Jul 31, 2015, Terence M Otoole (director) purchased 200,000 shares at $15.18 per share price.

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. 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. Its capital products are targeted at drilling rig equipment for rigs upgrades and refurbishment projects; subsea construction and development projects; the placement of production equipment on producing wells and downstream capital projects. Its engineered systems are components used on drilling rigs or in the course of subsea operations while its consumable products are used to maintain operations at well sites in the well construction process within the supporting infrastructure and at processing centers and refineries. Its segments are Drilling & Subsea and Production & Infrastructure.

Forum Energy Technologies Inc

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