Forum Energy Tech. (FET) is Upgraded by Credit Suisse to Outperform

Forum Energy Tech. (FET) is Upgraded by Credit Suisse to Outperform , according to the research report released to the investors. Earlier the firm had a rating of Neutral on the company shares. The shares recommendation by the Brokerage Firm was released on Dec-22-2015.

Shares of Forum Energy Technologies, Inc. (NYSE:FET) ended Thursday session in red amid volatile trading. The shares closed down 0.73 points or 5.59% at $12.34 with 1,179,386 shares getting traded. Post opening the session at $13.01, the shares hit an intraday low of $12.185 and an intraday high of $13.03 and the price vacillated in this range throughout the day. The company has a market cap of $1,116 million and the number of outstanding shares has been calculated to be 90,411,485 shares. The 52-week high of Forum Energy Technologies, Inc. (NYSE:FET) is $24.36 and the 52-week low is $8.34.

During the last several months other analysts have commented on the company rating. Equity analysts at the Brokerage firm Barclays maintains its rating on Forum Energy Technologies, Inc. (NYSE:FET). The rating major has initiated the coverage with an equalweight rating on the shares. The Analysts at Barclays raises the price target from $13 per share to $14 per share. The rating by the firm was issued on December 9, 2015.

Research firm Zacks has rated Forum Energy Technologies, Inc. (NYSE:FET) and has ranked it at 3, indicating that for the short term the shares are a hold. 15 Wall Street analysts have given the company an average rating of 2.2. The shares has received a hold rating based on the suggestion from 9 analysts in latest recommendations. Strong buy was given by 6 Wall Street Analysts.

Forum Energy Technologies, Inc. (NYSE:FET): The stock price is expected to reach $ 17.33 in the short term. The number of analysts agreeing with this consensus is 15. The higher estimate for the short term price target is at $27 while the lower estimate is at $13. The standard deviation of the price stands at $4.1.

Forum Energy Technologies, Inc. has lost 5% in the last five trading days and dropped 10.97% in the last 4 weeks. Forum Energy Technologies, Inc. has dropped 13.16% during the last 3-month period . Year-to-Date the stock performance stands at -40.47%.

Forum Energy Technologies, Inc. is an oilfield products company, serving the subsea, drilling, completion, production and infrastructure sectors of the oil and natural gas industry. The Company designs and manufactures products, and engage in aftermarket services, parts supply and related services that complement its product offering. It operates in two segments: Drilling and Subsea Segment and Production and Infrastructure Segment. In December 2012, the Company acquired Merrimac Manufacturing, Inc. (Merrimac). In May 2013, the Company acquired Blohm + Voss Oil Tools from STAR Capital Partners Limited. In July 2013, Forum Energy Technologies Inc acquired Moffat 2000 Ltd.