Flotek Industries, Inc. (NYSE:FTK) Receives $14.33 Consensus PT from Brokerages

Key Points

• Flotek Industries has received a consensus rating of "Moderate Buy" from four analysts, with an average 1-year target price of $14.33.
• Director Matthew Wilks recently purchased 103,514 shares at $12.24 per share, increasing his ownership in the company by over 253%.
• Flotek Industries reported earnings of $0.16 per share for the last quarter, surpassing analysts' expectations and showing increased revenue of $58.35 million.

Flotek Industries, Inc. (NYSE:FTK - Get Free Report) has received an average recommendation of "Buy" from the four ratings firms that are covering the company, MarketBeat.com reports. Three equities research analysts have rated the stock with a buy rating and one has issued a strong buy rating on the company. The average twelve-month target price among brokers that have issued ratings on the stock in the last year is $14.3333.

FTK has been the topic of a number of research reports. Northland Capmk upgraded shares of Flotek Industries from a "hold" rating to a "strong-buy" rating in a report on Wednesday. Wall Street Zen cut shares of Flotek Industries from a "strong-buy" rating to a "buy" rating in a report on Sunday, August 3rd. Northland Securities upgraded shares of Flotek Industries from a "market perform" rating to an "outperform" rating and set a $16.00 target price on the stock in a report on Wednesday. Finally, Alliance Global Partners initiated coverage on shares of Flotek Industries in a report on Thursday, June 12th. They set a "buy" rating and a $19.00 target price on the stock.

Insider Activity

In related news, Director Matthew Wilks purchased 103,514 shares of the stock in a transaction dated Monday, May 12th. The stock was purchased at an average price of $12.24 per share, with a total value of $1,267,011.36. Following the transaction, the director directly owned 144,350 shares in the company, valued at $1,766,844. This trade represents a 253.49% increase in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this link. Over the last ninety days, insiders bought 116,956 shares of company stock valued at $1,457,553. 3.02% of the stock is owned by insiders.

Hedge Funds Weigh In On Flotek Industries

Several large investors have recently modified their holdings of the stock. S Squared Technology LLC purchased a new position in Flotek Industries in the 1st quarter worth about $2,170,000. Geode Capital Management LLC raised its position in Flotek Industries by 55.9% in the 2nd quarter. Geode Capital Management LLC now owns 485,413 shares of the oil and gas company's stock worth $7,167,000 after buying an additional 174,144 shares during the last quarter. Royce & Associates LP purchased a new position in Flotek Industries in the 1st quarter worth about $1,167,000. EAM Investors LLC purchased a new position in Flotek Industries in the 4th quarter worth about $941,000. Finally, Arrowstreet Capital Limited Partnership purchased a new position in Flotek Industries in the 4th quarter worth about $826,000. Hedge funds and other institutional investors own 10.90% of the company's stock.

Flotek Industries Price Performance

NYSE:FTK traded up $1.13 during trading hours on Wednesday, hitting $13.83. The company had a trading volume of 459,367 shares, compared to its average volume of 425,003. The company has a market capitalization of $412.80 million, a PE ratio of 31.43 and a beta of 1.32. The stock has a 50-day moving average price of $13.83 and a 200 day moving average price of $10.77. Flotek Industries has a 52 week low of $3.79 and a 52 week high of $16.87.

Flotek Industries (NYSE:FTK - Get Free Report) last announced its earnings results on Tuesday, August 5th. The oil and gas company reported $0.16 EPS for the quarter, beating analysts' consensus estimates of $0.13 by $0.03. Flotek Industries had a net margin of 6.59% and a return on equity of 17.67%. The firm had revenue of $58.35 million for the quarter, compared to analysts' expectations of $52.40 million. Analysts anticipate 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).