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

Shares of Flotek Industries, Inc. (NYSE:FTK) have received an average rating of “Moderate Buy” from the five brokerages that are presently covering the company, Marketbeat Ratings reports. Two equities research analysts have rated the stock with a hold recommendation and three have issued a buy recommendation on the company. The average twelve-month target price among analysts that have issued a report on the stock in the last year is $21.3333.

FTK has been the subject of a number of research reports. Northland Securities reissued an “outperform” rating and set a $20.00 target price on shares of Flotek Industries in a research note on Wednesday, December 31st. Wall Street Zen cut Flotek Industries from a “buy” rating to a “hold” rating in a report on Sunday, November 16th. Weiss Ratings reiterated a “hold (c+)” rating on shares of Flotek Industries in a research note on Monday, December 29th. Lake Street Capital assumed coverage on Flotek Industries in a research report on Thursday, January 29th. They issued a “buy” rating and a $25.00 target price on the stock. Finally, Zacks Research lowered Flotek Industries from a “strong-buy” rating to a “hold” rating in a research note on Tuesday, February 3rd.

Flotek Industries Price Performance

Flotek Industries stock opened at $16.58 on Friday. The stock has a market capitalization of $498.52 million, a P/E ratio of 18.63 and a beta of 1.44. The company’s fifty day moving average price is $17.29 and its 200 day moving average price is $15.31. The company has a debt-to-equity ratio of 0.36, a quick ratio of 1.54 and a current ratio of 1.77. Flotek Industries has a 1 year low of $6.05 and a 1 year high of $20.09.

Institutional Investors Weigh In On Flotek Industries

Hedge funds have recently modified their holdings of the business. Police & Firemen s Retirement System of New Jersey purchased a new position in shares of Flotek Industries in the second quarter worth about $50,000. Quarry LP raised its holdings in Flotek Industries by 97.2% in the 3rd 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 last quarter. New York State Common Retirement Fund purchased a new position in Flotek Industries in the 2nd quarter worth approximately $102,000. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. purchased a new position in Flotek Industries in the 2nd quarter worth approximately $115,000. Finally, Deutsche Bank AG acquired a new position in shares of Flotek Industries during the 4th quarter worth approximately $150,000. 10.90% of the stock is currently owned by institutional investors and hedge funds.

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.