Flotek Industries, Inc. (NYSE:FTK) Receives $21.33 Consensus Target Price from Analysts

Shares of Flotek Industries, Inc. (NYSE:FTK) have earned a consensus rating of “Moderate Buy” from the five research firms that are presently covering the firm, Marketbeat Ratings reports. Two equities research analysts have rated the stock with a hold rating and three have assigned a buy rating to the company. The average 1-year price objective among brokerages that have covered the stock in the last year is $21.3333.

Several brokerages have recently commented on FTK. Zacks Research lowered shares of Flotek Industries from a “strong-buy” rating to a “hold” rating in a report on Tuesday, February 3rd. Weiss Ratings reaffirmed a “hold (c+)” rating on shares of Flotek Industries in a research note on Friday, March 27th. Lake Street Capital initiated coverage on shares of Flotek Industries in a research note on Thursday, January 29th. They set a “buy” rating and a $25.00 target price on the stock. Finally, Northland Securities reaffirmed an “outperform” rating and set a $20.00 target price on shares of Flotek Industries in a research note on Wednesday, December 31st.

Insiders Place Their Bets

In related news, CFO James Bond Clement sold 6,299 shares of the company’s stock in a transaction that occurred on Tuesday, February 24th. The shares were sold at an average price of $16.02, for a total transaction of $100,909.98. Following the sale, the chief financial officer directly owned 122,837 shares of the company’s stock, valued at $1,967,848.74. This represents a 4.88% decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. 2.40% of the stock is currently owned by insiders.

Institutional Investors Weigh In On Flotek Industries

Several large investors have recently added to or reduced their stakes in FTK. Quarry LP increased its stake in Flotek Industries by 97.2% during the 3rd quarter. Quarry LP now owns 3,855 shares of the oil and gas company’s stock worth $56,000 after buying an additional 1,900 shares during the period. New York State Common Retirement Fund purchased a new stake in shares of Flotek Industries in the 2nd quarter valued at approximately $102,000. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. purchased a new stake in shares of Flotek Industries in the 2nd quarter valued at approximately $115,000. Deutsche Bank AG purchased a new stake in shares of Flotek Industries in the 4th quarter valued at approximately $150,000. Finally, Mangrove Partners IM LLC purchased a new stake in shares of Flotek Industries in the 4th quarter valued at approximately $177,000. 10.90% of the stock is owned by hedge funds and other institutional investors.

Flotek Industries Stock Performance

Shares of FTK stock opened at $15.65 on Monday. The firm’s 50 day moving average price is $16.65 and its 200-day moving average price is $16.46. The company has a debt-to-equity ratio of 0.35, a quick ratio of 1.63 and a current ratio of 1.80. Flotek Industries has a one year low of $6.20 and a one year high of $20.41. The firm has a market cap of $566.06 million, a P/E ratio of 18.86 and a beta of 1.46.

Flotek Industries (NYSE:FTK) last issued its quarterly earnings data on Wednesday, March 11th. The oil and gas company reported $0.08 EPS for the quarter, missing the consensus estimate of $0.15 by ($0.07). Flotek Industries had a return on equity of 21.32% and a net margin of 12.87%.The company had revenue of $67.52 million during the quarter, compared to analyst estimates of $53.37 million. As a group, equities research analysts predict that Flotek Industries will post 0.29 EPS for the current year.

Flotek Industries Company Profile

Flotek Industries, Inc (NYSE: FTK) is a Houston-based oilfield services provider specializing in innovative chemical technologies for the upstream energy sector. The company develops, manufactures and markets specialty drilling fluids, completion fluids and production chemicals that enhance drilling efficiency, optimize well performance and mitigate operational risks. Flotek’s solutions are designed to improve drilling rates of penetration, reduce nonproductive time and address challenging downhole environments, including high-pressure/high-temperature wells and sour service conditions.

Flotek’s operations are organized into three core business segments: Drilling & Completion Fluids, Production Chemicals & Process Management, and Water Solutions.