Flotek Industries, Inc. (NYSE:FTK) Given Average Rating of “Moderate Buy” by Analysts

Shares of Flotek Industries, Inc. (NYSE:FTK) have been given a consensus recommendation of “Moderate Buy” by the five ratings firms that are covering the company, Marketbeat reports. Two research analysts have rated the stock with a hold recommendation and three have assigned a buy recommendation to the company. The average 1 year price target among brokers that have updated their coverage on the stock in the last year is $21.3333.

A number of research analysts have issued reports on the company. Northland Securities reiterated an “outperform” rating and set a $20.00 price objective on shares of Flotek Industries in a research note on Wednesday, December 31st. Zacks Research downgraded Flotek Industries from a “strong-buy” rating to a “hold” rating in a report on Tuesday, February 3rd. 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 price target for the company. Finally, Weiss Ratings reiterated a “hold (c+)” rating on shares of Flotek Industries in a research note on Monday, December 29th.

Flotek Industries Price Performance

Shares of NYSE FTK opened at $16.53 on Thursday. The company has a 50 day simple moving average of $17.07 and a two-hundred day simple moving average of $15.87. Flotek Industries has a fifty-two week low of $6.05 and a fifty-two week high of $20.41. The company has a market capitalization of $597.82 million, a price-to-earnings ratio of 19.91 and a beta of 1.45. 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 (NYSE:FTK) last issued its quarterly earnings results on Wednesday, March 11th. The oil and gas company reported $0.08 EPS for the quarter, missing analysts’ consensus estimates 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 the consensus estimate of $53.37 million. Analysts expect that Flotek Industries will post 0.29 EPS for the current fiscal year.

Insider Transactions at Flotek Industries

In other Flotek Industries news, CFO James Bond Clement sold 6,299 shares of Flotek Industries stock in a transaction dated Tuesday, February 24th. The shares were sold at an average price of $16.02, for a total value of $100,909.98. Following the completion of the transaction, the chief financial officer directly owned 122,837 shares of the company’s stock, valued at approximately $1,967,848.74. The trade was a 4.88% decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link. Company insiders own 3.02% of the company’s stock.

Institutional Investors Weigh In On Flotek Industries

Institutional investors have recently made changes to their positions in the company. Police & Firemen s Retirement System of New Jersey purchased a new position in Flotek Industries in the 2nd quarter worth approximately $50,000. Quarry LP boosted 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 valued at $56,000 after purchasing an additional 1,900 shares during the last quarter. New York State Common Retirement Fund purchased a new stake in Flotek Industries during the 2nd quarter valued at $102,000. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. bought a new stake in shares of Flotek Industries in the 2nd quarter worth $115,000. Finally, Deutsche Bank AG bought a new stake in shares of Flotek Industries in the 4th quarter worth $150,000. Hedge funds and other institutional investors own 10.90% of the company’s stock.

About Flotek Industries

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.