Flotek Industries, Inc. (NYSE:FTK) Receives Consensus Recommendation of “Buy” from Analysts

Flotek Industries, Inc. (NYSE:FTK) has earned an average rating of “Buy” from the four ratings firms that are presently covering the company, MarketBeat.com reports. One investment analyst has rated the stock with a hold recommendation, two have given a buy recommendation and one has issued a strong buy recommendation on the company. The average twelve-month price objective among analysts that have covered the stock in the last year is $14.33.

A number of analysts have recently commented on FTK shares. Alliance Global Partners assumed coverage on Flotek Industries in a research report on Thursday, June 12th. They issued a “buy” rating and a $19.00 price objective for the company. Northland Securities started coverage on Flotek Industries in a research report on Tuesday. They issued a “market perform” rating and a $16.00 target price on the stock. Wall Street Zen cut Flotek Industries from a “strong-buy” rating to a “buy” rating in a research report on Saturday. Finally, Singular Research upgraded Flotek Industries to a “moderate buy” rating in a report on Monday, March 17th.

Insider Buying and Selling

In other Flotek Industries news, Director Matthew Wilks purchased 103,514 shares of the stock in a transaction dated Monday, May 12th. The stock was acquired at an average cost of $12.24 per share, for a total transaction of $1,267,011.36. Following the acquisition, the director now owns 144,350 shares in the company, valued at $1,766,844. This trade represents a 253.49% increase in their position. The acquisition was disclosed in a filing with the Securities & Exchange Commission, which is available at the SEC website. Over the last three months, insiders acquired 149,766 shares of company stock worth $1,841,758. Company insiders own 3.02% of the company’s stock.

Institutional Inflows and Outflows

A number of large investors have recently bought and sold shares of FTK. Tower Research Capital LLC TRC acquired a new position in Flotek Industries during the fourth quarter worth $42,000. Point72 Asia Singapore Pte. Ltd. purchased a new position in Flotek Industries during the 4th quarter valued at about $57,000. Kathmere Capital Management LLC acquired a new position in Flotek Industries in the 1st quarter valued at about $85,000. Victory Capital Management Inc. acquired a new stake in shares of Flotek Industries during the first quarter worth about $96,000. Finally, Balyasny Asset Management L.P. purchased a new position in shares of Flotek Industries in the fourth quarter valued at approximately $99,000. Institutional investors and hedge funds own 10.90% of the company’s stock.

Flotek Industries Stock Down 4.8%

Shares of Flotek Industries stock traded down $0.77 on Tuesday, reaching $15.26. 100,221 shares of the stock were exchanged, compared to its average volume of 218,001. Flotek Industries has a twelve month low of $3.79 and a twelve month high of $16.87. The business has a 50 day moving average price of $11.38 and a two-hundred day moving average price of $9.49. The firm has a market capitalization of $455.39 million, a price-to-earnings ratio of 58.58 and a beta of 1.39.

Flotek Industries (NYSE:FTK) last released its quarterly earnings data on Tuesday, May 6th. The oil and gas company reported $0.17 earnings per share for the quarter, topping analysts’ consensus estimates of $0.06 by $0.11. Flotek Industries had a net margin of 4.58% and a return on equity of 7.76%. The firm had revenue of $55.36 million for the quarter, compared to analyst estimates of $44.50 million. Research analysts forecast that Flotek Industries will post 0.29 EPS for the current year.

About Flotek Industries

Flotek Industries, Inc operates as a technology-driven green chemistry and data company that serves customers across industrial and commercial markets in the United States, the United Arab Emirates, and internationally. It operates through two segments: Chemistry Technologies (CT) and Data Analytics (DA).