Shares of Flotek Industries Inc. (NYSE:FTK) have received an average rating of “Buy” from the nine ratings firms that are presently covering the stock. One investment analyst has rated the stock with a sell rating, two have issued a hold rating, four have assigned a buy rating and one has issued a strong buy rating on the company. The average 12-month target price among brokerages that have issued ratings on the stock in the last year is $10.22.
FTK has been the subject of a number of research reports. Zacks Investment Research raised Flotek Industries from a “strong sell” rating to a “hold” rating in a research note on Monday, June 27th. Stephens reaffirmed a “top pick” rating on shares of Flotek Industries in a research note on Friday, July 15th.
Shares of Flotek Industries (NYSE:FTK) traded up 0.35% during midday trading on Wednesday, hitting $14.15. The company had a trading volume of 238,719 shares. The company has a 50-day moving average of $14.79 and a 200 day moving average of $12.49. Flotek Industries has a 12 month low of $4.89 and a 12 month high of $20.24. The firm’s market capitalization is $762.81 million.
Flotek Industries (NYSE:FTK) last posted its earnings results on Tuesday, July 26th. The company reported ($0.04) EPS for the quarter, beating the Zacks’ consensus estimate of ($0.10) by $0.06. Flotek Industries had a negative return on equity of 2.24% and a negative net margin of 10.29%. The company had revenue of $72.32 million for the quarter, compared to the consensus estimate of $65 million. During the same quarter in the previous year, the business earned $0.02 earnings per share. The company’s revenue for the quarter was down 16.9% on a year-over-year basis. On average, analysts expect that Flotek Industries will post ($0.14) EPS for the current fiscal year.
In related news, Director L Melvin Cooper sold 10,000 shares of the business’s stock in a transaction on Tuesday, September 6th. The stock was sold at an average price of $16.01, for a total transaction of $160,100.00. Following the completion of the transaction, the director now directly owns 92,475 shares of the company’s stock, valued at approximately $1,480,524.75. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Corporate insiders own 5.64% of the company’s stock.
A number of hedge funds and other institutional investors have recently added to or reduced their stakes in the company. Mason Street Advisors LLC bought a new position in Flotek Industries during the second quarter valued at approximately $139,000. Riverhead Capital Management LLC increased its stake in shares of Flotek Industries by 7.0% in the second quarter. Riverhead Capital Management LLC now owns 13,464 shares of the company’s stock worth $252,000 after buying an additional 886 shares during the period. Capstone Asset Management Co. increased its stake in shares of Flotek Industries by 4.9% in the second quarter. Capstone Asset Management Co. now owns 16,110 shares of the company’s stock worth $213,000 after buying an additional 750 shares during the period. BNP Paribas Arbitrage SA increased its stake in shares of Flotek Industries by 113.4% in the second quarter. BNP Paribas Arbitrage SA now owns 16,823 shares of the company’s stock worth $222,000 after buying an additional 8,941 shares during the period. Finally, Profund Advisors LLC increased its stake in shares of Flotek Industries by 7.1% in the second quarter. Profund Advisors LLC now owns 17,770 shares of the company’s stock worth $235,000 after buying an additional 1,178 shares during the period. 94.89% of the stock is owned by hedge funds and other institutional investors.
Flotek Industries Company Profile
Flotek Industries, Inc is a technology-driven company that develops and supplies oilfield products, services and equipment to the oil, gas and mining industries. The Company has four business segments: Energy Chemistry Technologies, Consumer and Industrial Chemical Technologies, Drilling Technologies, and Production Technologies.
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