What Can We Expect After Forum Energy Technologies (NYSE:FET)’s Downgrade By William Blair?


Forum Energy Technologies (NYSE:FET) Receives a Downgrade

William Blair downgraded the rating for shares of Forum Energy Technologies (NYSE:FET) to a”Market Perform” from a “Outperform”. This important rating change was disseminated in a recent report earlier today.

From a total of 17 analysts covering Forum Energy Technologies (NYSE:FET) stock, 0 rate it a ”Buy”, 0 a “Sell”, and 0 a ”Hold”. This means that NaN of the ratings are positive. The highest target price is $23 while the lowest target price is $13. The mean of all analyst targets is $16.35 with a 38.23% above today’s ($11.72) stock price. Forum Energy Technologies was the topic of 19 analyst reports since July 28, 2015 according to the firm StockzIntelligence Inc. KLR Group initiated shares on December 14 with “Buy” rating. Zacks upgraded FET stock in a recent report from September 21 to “Hold” rating. Finally, Cowen & Co maintained the stock with “Outperform” rating in a report issued on a July 27.

The stock decreased 5.02% or $0.62 during the last trading session, striking $11.72. Approximately 1.85M shares of stock traded hands or 63.72% up from the average. Forum Energy Technologies Inc (NYSE:FET) has declined 43.99% since May 15, 2015 and is downtrending. It has underperformed by 40.18% the S&P500.

The overall sentiment of institutions has decreased to 0.96 in Q2 2015. Its down 0.24, from 1.2 in 2015Q2. The ratio worsened, as 27 institutions have sold all the shares of Forum Energy Technologies Inc that they owned while 53 funds have taken shares off the table. 25 funds have purchased shares for the first time while 52 added to their positions. These institutions now hold 94.66 million shares or 11.70% more than the 84.75 million shares they owned in 2015Q2.

The Fund Simmons L E & Associates Inc currently is holding shares equating to 100% of its total portfolio in Forum Energy Technologies Inc representing a total of 24.26 million shares. Another fund,Tinicum Inc, is holding a total of 2.97 million shares equating to 17.54% of their holdings. Additionally, Financial Management Professionals Inc. has a 283,001 share stake in Forum Energy Technologies Inc which represents 2.34% of their total portfolio. The Fund, Round Table Services Llc, based out of New Jersey, has also built up a stake in the stock, which represents a total of 1.27% of their total portfolio. Finally Viking Fund Management Llc, a fund which is based in the state of North Dakota reported a total holdings of 520,000 shares.

Insider activity is a very important aspect to track on any stock. Going back to September 8, 2015, shareholders of Forum Energy Technologies Inc have witnessed 1 buy, and a total of 0 selling transactions equating to a net activity of approximately $390,000 . Angelle Evelyn M bought 26,000 shares worth approximately $390,000.

Forum Energy Technologies, Inc. is an oilfield products company. The company has a market cap of $1.12 billion. The Firm designs, makes and distributes products and engages in aftermarket services, parts supply and related services. It has 12.06 P/E ratio. The Company’s 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.

According to Zacks Investment Research, “Forum Energy Technologies is a global 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 engages in aftermarket services, parts supply and related services that complement the Company’s product offering.”