Forum Energy Technologies (FET) : Analyst Rating Update

Forum Energy Technologies (FET) : The consensus on Forum Energy Technologies (FET) based on 15 analyst recommendation on the company stock is 2.47, which is interpreted as a Buy recommendation. Zacks Investment Research has issued a rank of 3 which endorses a Hold on the stock. However, 4 brokers have a differing view as they consider the stock to be a Strong Buy at current levels. 11 experts consider that the stocks earnings and the quoted price is in harmony, hence, they give it a Hold rating.

Forum Energy Technologies (FET) : The most positive equity analysts on Forum Energy Technologies (FET) expects the shares to touch $23, whereas, the least positive believes that the stock will trade at $10 in the short term. The company is covered by 15 Wall Street Brokerage Firms. The average price target for shares are $16.62 with an expected fluctuation of $3.95 from the mean.

Forum Energy Technologies (NYSE:FET): The stock opened at $16.01 on Wednesday but the bulls could not build on the opening and the stock topped out at $16.13 for the day. The stock traded down to $15.72 during the day, due to lack of any buying support eventually closed down at $16.06 with a loss of -1.05% for the day. The stock had closed at $16.23 on the previous day. The total traded volume was 896,691 shares.

Also, Major Brokerage house, Credit Suisse downgrades its ratings on Forum Energy Technologies (NYSE:FET). In the latest research report, Credit Suisse raises the target price from $14 per share to $16 per share. According to the latest information available, the shares are now rated Neutral by the analysts at the agency. Previously, the analysts had a Outperform rating on the shares. The rating by the firm was issued on June 1, 2016. The company shares have dropped -11.55% from its 1 Year high price. On Jul 14, 2015, the shares registered one year high at $22.46 and the one year low was seen on Aug 24, 2015. The 50-Day Moving Average price is $17.19 and the 200 Day Moving Average price is recorded at $13.64.

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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