Flotek Industries, Inc. (NYSE:FTK) Given Average Recommendation of "Moderate Buy" by Analysts

Key Points

• Analysts maintain a “Moderate Buy” consensus on Flotek Industries, with four buy ratings and one hold rating. The average 12-month price target is $28.33, above the stock’s reported $23.45 price.
• Flotek’s latest quarter included revenue of $70.05 million, exceeding expectations of $63.08 million, though adjusted earnings of $0.12 per share fell short of the $0.13 consensus estimate.
• The stock has risen substantially within its 12-month range of $10.95 to $28.50, while CFO James Bond Clement sold 12,554 shares at an average price of $20.08; insiders own 2.4% and institutional investors own 10.9% of the company.

Flotek Industries, Inc. (NYSE:FTK - Get Free Report) has been given an average rating of "Moderate Buy" by the five brokerages that are currently covering the stock, Marketbeat.com reports. One analyst has rated the stock with a hold rating and four have assigned a buy rating to the company. The average 12-month price target among analysts that have issued a report on the stock in the last year is $28.3333.

Several equities analysts recently weighed in on FTK shares. JonesTrading started coverage on Flotek Industries in a research report on Thursday, July 9th. They set a "buy" rating and a $40.00 target price on the stock. Weiss Ratings raised Flotek Industries from a "hold (c+)" rating to a "buy (b-)" rating in a research note on Wednesday, May 13th.

Insider Buying and Selling

In other Flotek Industries news, CFO James Bond Clement sold 12,554 shares of Flotek Industries stock in a transaction that occurred on Monday, May 18th. The shares were sold at an average price of $20.08, for a total transaction of $252,084.32. Following the transaction, the chief financial officer owned 115,324 shares of the company's stock, valued at $2,315,705.92. The trade was a 9.82% decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. Insiders own 2.40% of the company's stock.

Institutional Inflows and Outflows

Hedge funds have recently bought and sold shares of the company. Quarry LP increased its stake 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 worth $56,000 after buying an additional 1,900 shares in the last quarter. New York State Common Retirement Fund purchased a new position in shares of Flotek Industries in the second quarter valued at about $102,000. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. bought a new position in shares of Flotek Industries in the second quarter worth about $115,000. Deutsche Bank AG purchased a new stake in shares of Flotek Industries during the fourth quarter worth about $150,000. Finally, Mangrove Partners IM LLC purchased a new stake in shares of Flotek Industries during the fourth quarter worth about $177,000. Institutional investors own 10.90% of the company's stock.

Flotek Industries Trading Down 0.4%

NYSE:FTK opened at $23.45 on Monday. The company has a market cap of $848.28 million, a PE ratio of 30.06 and a beta of 1.43. The company has a current ratio of 1.83, a quick ratio of 1.62 and a debt-to-equity ratio of 0.34. The company has a 50 day simple moving average of $23.56 and a two-hundred day simple moving average of $19.33. Flotek Industries has a 12 month low of $10.95 and a 12 month high of $28.50.

Flotek Industries (NYSE:FTK - Get Free Report) last posted its quarterly earnings data on Tuesday, May 5th. The oil and gas company reported $0.12 earnings per share (EPS) for the quarter, missing analysts' consensus estimates of $0.13 by ($0.01). Flotek Industries had a return on equity of 20.70% and a net margin of 11.83%.The business had revenue of $70.05 million during the quarter, compared to analysts' expectations of $63.08 million. Research analysts forecast that Flotek Industries will post 0.6 earnings per share 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.

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