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Barclays covered Forum Energy Tech. (NYSE:FET), upping its target price to $23.00 today

Yesterday Forum Energy Tech. (NYSE:FET) traded 1.89% higher at $18.47. The company’s 50-day moving average is $17.66 and its 200-day moving average is $16.05. The last stock close price is up 17.24% from the 200-day moving average, compared to the S&P 500 which has decreased -0.01% over the same time. 86,925 shares of the stock were exchanged, down from an average trading volume of 806,731

Forum Energy Tech. (NYSE:FET) had its target price raised to $23.00 by Barclays in a report released Friday September 23, 2016. The new target price indicates a possible upside of 0.25% based on the company's last stock close price.

Previously on 09/15/2016, Gabelli reported about Forum Energy Tech. (NYSE:FET) raised the target price from $0.00 to $21.00. At the time, this indicated a possible upside of 0.22%.

See Chart Below

Forum Energy Tech. (NYSE:FET)

Forum Energy Tech. has a 52 week low of $8.47 and a 52 week high of $19.32 Forum Energy Tech.’s market capitalization is currently $0.

In addition to Barclays reporting its stock price target, a total of 20 brokerages have issued a research note on the company. The average stock price target is $16.81 with 3 brokerages rating the stock a strong buy, 6 brokerages rating the stock a buy, 13 brokerages rating the stock a hold, 0 brokerages rating the stock a underperform, and finally 0 brokerages rating the stock a sell.

Brief Synopsis On Forum Energy Tech. (NYSE:FET)

Forum Energy Technologies, Inc. is an oilfield products company. The Company designs, manufactures and distributes products and engages in aftermarket services, parts supply and related services. It operates through two segments: Drilling & Subsea, and Production & Infrastructure. Its 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. Its capital products are targeted at drilling rig equipment for rigs, upgrades and refurbishment projects; subsea construction and development projects; the placement of production equipment on producing wells; pressure pumping equipment, and downstream capital projects. Its engineered systems are components used on drilling rigs for completions or in the course of subsea operations, while its consumable products are used to maintain operations at well sites in the well construction process.

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