Jefferies Reiterates a Hold Rating on Forum Energy Tech

In a report released today, Brad Handler from Jefferies reiterated a Hold rating on Forum Energy Tech (NYSE: FET). The company’s shares closed yesterday at $17.97, close to its 52-week high of $19.32.

According to TipRanks.com, Handler is ranked 0 out of 5 stars with an average return of -6.8% and a 46.6% success rate. Handler covers the Basic Materials sector, focusing on stocks such as Diamond Offshore Drilling, Oceaneering International, and Basic Energy Services.

Forum Energy Tech has an analyst consensus of Hold, with a price target consensus of $18.50.

The company has a one year high of $19.32 and a one year low of $8.47. Currently, Forum Energy Tech has an average volume of 957.3k.

Based on the recent corporate insider activity of 33 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 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 and Subsea and Production and Infrastructure. The Drilling and Subsea segment designs and manufactures products and provides 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 provides 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.