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

Shares of Flotek Industries, Inc. (NYSE:FTK) have received an average recommendation of “Buy” from the four research firms that are presently covering the company, MarketBeat Ratings reports. One analyst has rated the stock with a hold recommendation, two have assigned a buy recommendation and one has assigned a strong buy recommendation to the company. The average 1 year target price among brokerages that have issued ratings on the stock in the last year is $17.50.

Several research analysts have weighed in on FTK shares. Weiss Ratings reissued a “hold (c+)” rating on shares of Flotek Industries in a report on Monday, December 1st. Wall Street Zen downgraded Flotek Industries from a “buy” rating to a “hold” rating in a research note on Sunday, November 16th.

Insider Activity at Flotek Industries

In other news, Director Harshavardhan V. Agadi sold 66,956 shares of the business’s stock in a transaction that occurred on Thursday, November 13th. The stock was sold at an average price of $14.71, for a total value of $984,922.76. Following the completion of the sale, the director directly owned 197,265 shares in the company, valued at approximately $2,901,768.15. The trade was a 25.34% decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Insiders own 3.02% of the company’s stock.

Institutional Trading of Flotek Industries

Several hedge funds have recently made changes to their positions in FTK. Police & Firemen s Retirement System of New Jersey bought a new position in Flotek Industries during the 2nd quarter worth $50,000. Quarry LP boosted its holdings in shares of Flotek Industries by 97.2% during the third quarter. Quarry LP now owns 3,855 shares of the oil and gas company’s stock valued at $56,000 after acquiring an additional 1,900 shares during the period. New York State Common Retirement Fund acquired a new position in shares of Flotek Industries during the second quarter valued at $102,000. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. bought a new position in shares of Flotek Industries during the second quarter worth about $115,000. Finally, D Orazio & Associates Inc. acquired a new stake in shares of Flotek Industries in the 2nd quarter worth about $153,000. Institutional investors own 10.90% of the company’s stock.

Flotek Industries Stock Performance

Shares of FTK opened at $16.58 on Tuesday. The firm has a market cap of $498.39 million, a price-to-earnings ratio of 18.63 and a beta of 1.46. The company has a quick ratio of 1.54, a current ratio of 1.77 and a debt-to-equity ratio of 0.36. The business’s 50 day moving average is $15.53 and its two-hundred day moving average is $14.09. Flotek Industries has a 52-week low of $6.05 and a 52-week high of $18.96.

Flotek Industries (NYSE:FTK) last released its quarterly earnings results on Tuesday, November 4th. The oil and gas company reported $0.20 earnings per share for the quarter, topping analysts’ consensus estimates of $0.15 by $0.05. The business had revenue of $56.03 million during the quarter, compared to the consensus estimate of $52.90 million. Flotek Industries had a net margin of 14.48% and a return on equity of 22.62%. Analysts forecast that Flotek Industries will post 0.29 EPS for the current fiscal year.

Flotek Industries Company Profile

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).