Is Flotek Industries (NYSE:FTK) a Sell? What does KLR Group Think?


Why Has KLR Group Given Flotek Industries (NYSE:FTK) a $14.50 Price Target

KLR Group issued to clients in a recent report that it have started coverage on Flotek Industries (NYSE:FTK) stock, with “Buy” rating and a $14.50 target price.

From a total of 3 analysts covering Flotek Industries (NYSE:FTK) stock, 3 rate it a ”Buy”, 1 a “Sell”, and 1 a ”Hold”. This means that 60% of the ratings are positive. The highest target price is $20 while the lowest target price is $5. The mean of all analyst targets is $12 with a 91.49% above today’s ($10.81) stock price. Flotek Industries was the topic of 7 analyst reports since July 27, 2015 according to the firm StockzIntelligence Inc. Vetr upgraded shares on September 22 to “Buy” rating.

Approximately 257,643 shares of stock traded hands. Flotek Industries Inc (NYSE:FTK) has declined 5.70% since May 11, 2015 and is downtrending. It has underperformed by 1.28% the S&P500.

The overall sentiment of institutions has increased to 1.3 in Q2 2015. Its up 0.29, from 1.01 in 2015Q2. The ratio improved, as 19 institutions have sold all the shares of Flotek Industries Inc that they owned while 45 funds have taken shares off the table. 33 funds have purchased shares for the first time while 50 added to their positions. These institutions now hold 60.90 million shares or 21.53% more than the 50.12 million shares they owned in 2015Q2.

The Fund Nierenberg Investment Management Company Inc. currently is holding shares equating to 17.12% of its total portfolio in Flotek Industries Inc representing a total of 707,000 shares. Another fund,Praesidium Investment Management Company Llc, is holding a total of 2.80 million shares equating to 4.36% of their holdings. Additionally, Tbp Investments Management Llc has a 87,500 share stake in Flotek Industries Inc which represents 3.94% of their total portfolio. The Fund, Blackthorn Investment Group Llc, based out of Kansas, has also built up a stake in the stock, which represents a total of 3.11% of their total portfolio. Finally Bruce & Co. Inc., a fund which is based in the state of Illinois reported a total holdings of 714,335 shares.

Insider activity is a very important aspect to track on any stock. Going back to April 14, 2015, shareholders of Flotek Industries Inc have witnessed 0 insider buys, and a total of 5 insider sales equating to a net activity of approximately $3.53 million . Snively Joshua A sold 30,000 shares worth approximately $533,198. Reeves Steven A sold 41,934 shares worth approximately $790,133. Hern Kenneth sold 4,000 shares worth approximately $70,031. Chisholm John sold 112,000 shares worth approximately $2.07M. The company insider Reiland John sold 3,686 shares worth $63,636.

Flotek Industries, Inc. is a diversified, technology-driven firm that develops and supplies oilfield products, services and equipment to the oil, gas and mining industries. The company has a market cap of $577.03 million. The Firm also develops and supplies compounds to companies that make cleaning products, cosmetics, food and beverages and other products for the consumer and industrial markets. It has 154.32 P/E ratio. The Firm has four divisions: Energy Chemical Technologies, Consumer and Industrial Chemical Technologies, Drilling Technologies and Production Technologies.

According to Zacks Investment Research, “Flotek manufactures and markets innovative specialty chemicals, downhole drilling and production equipment, and management of automated bulk material handling, loading and blending facilities. It serves major and independent companies in the domestic and international oilfield service industry.”