Analyst Rating Update on Forum Energy Technologies (FET)

Forum Energy Technologies (NYSE:FET) : 15 analysts are covering Forum Energy Technologies (NYSE:FET) and their average rating on the stock is 2.47, which is read as a Buy. 4 equity analysts believe that the stock has a bright future and the price doesnt capture all of its upside, hence they rate the stock as a Strong Buy. A Zacks Investment Research rank of 3, which recommends a Hold affirms that they expect a large upside in the stock from the current levels. A total of 11 brokerage firms believe that the stock is fairly valued, hence they advise a Hold on the stock.

Forum Energy Technologies (NYSE:FET) : The consensus price target for Forum Energy Technologies (NYSE:FET) is $16.62 for the short term with a standard deviation of $3.95. The most optimist securities analyst among the 15 who monitor the stock believes that the stock can reach $23, however, the pessimist price target for the company is $10.

Company shares have received an average consensus rating of Hold for the current week Also, In a research note released to the investors, Credit Suisse downgrades its rating on Forum Energy Technologies (NYSE:FET).The analysts at the brokerage house have a current rating of Neutral on the shares. Earlier, the shares were rated a Outperform by the brokerage firm. In a recent information released to the investors, Credit Suisse raises the new price target from $14 per share to $16 per share. The rating by the firm was issued on June 1, 2016.

Forum Energy Technologies (NYSE:FET): stock turned positive on Tuesday. Though the stock opened at $16.37, the bulls momentum made the stock top out at $16.37 level for the day. The stock recorded a low of $15.54 and closed the trading day at $15.82, in the green by 1.22%. The total traded volume for the day was 1,228,616. The stock had closed at $15.63 in the previous days trading.

In an insider trading activity, The Securities and Exchange Commission has divulged in a Form 4 filing that the director of Forum Energy Technologies, Inc., Angelle Evelyn M had purchased shares worth of $390,000 in a transaction dated on September 4, 2015. A total of 26,000 shares were purchased at a price of $15 per share. The information is based on open market trades at the market prices.Option exercises are not covered.

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.

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