Forum Energy Tech Receives a New Rating from Top AnalystBy Jason Carr
According to TipRanks.com, Randhawa is a top 25 analyst with an average return of 43.4% and a 69.8% success rate. Randhawa covers the Basic Materials sector, focusing on stocks such as Independence Contract Drilling, Precision Drilling, and US Silica Holdings.
Forum Energy Tech has an analyst consensus of Moderate Buy, with a price target consensus of $22.25.
Based on Forum Energy Tech’s latest earnings report from September 30, the company posted quarterly revenue of $138.3M and quarterly net profit of -$17.99M. In comparison, last year the company earned revenue of $245M and had a net profit of $6.72M.
Based on the recent corporate insider activity of 32 insiders, corporate insider sentiment is positive on the stock. This means that over the past quarter there has been an increase of insiders buying their shares of FET in relation to earlier this year. Most recently, in May 2016, John Schmitz, a Director at FET bought 1,628 shares for a total of $24,990.
Forum Energy Technologies, Inc. is a global oilfield products company, serving the subsea, drilling, completion, production and infrastructure sectors of the oil and natural gas industry. The company operates through two business segments: Drilling & Subsea and Production & Infrastructure. The Drilling and Subsea segment designs and manufactures products and provide related services to the drilling, well construction, completion, intervention and subsea construction and services markets. It provides three technologies, which include subsea, downhole and drilling. The Production and Infrastructure segment designs and manufactures products and provide related equipment and services to the well stimulation, completion, production and infrastructure markets. It also offers flow equipment, production equipment and valve solutions. Forum Energy Technologies was founded in 2005 and is headquartered in Houston, TX.