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

Flotek Industries, Inc. (NYSE:FTK - Get Free Report) has earned a consensus recommendation of "Moderate Buy" from the five analysts that are currently covering the company, Marketbeat Ratings reports. Two equities research analysts have rated the stock with a hold rating, two have issued a buy rating and one has issued a strong buy rating on the company. The average 1-year price objective among analysts that have covered the stock in the last year is $14.33.

FTK has been the topic of several recent research reports. Alliance Global Partners assumed coverage on shares of Flotek Industries in a research report on Thursday, June 12th. They set a "buy" rating and a $19.00 target price on the stock. Wall Street Zen lowered shares of Flotek Industries from a "strong-buy" rating to a "buy" rating in a research report on Saturday, June 14th. Northland Securities started coverage on shares of Flotek Industries in a research report on Tuesday, June 17th. They issued a "market perform" rating and a $16.00 price objective on the stock. Singular Research raised shares of Flotek Industries to a "moderate buy" rating in a research report on Monday, March 17th. Finally, Northland Capmk raised shares of Flotek Industries to a "hold" rating in a research report on Tuesday, June 17th.

Flotek Industries Stock Performance

Shares of FTK traded down $0.77 during midday trading on Friday, hitting $13.25. 442,729 shares of the company traded hands, compared to its average volume of 269,719. The firm has a 50 day moving average of $14.27 and a 200-day moving average of $10.31. Flotek Industries has a 52 week low of $3.79 and a 52 week high of $16.87. The stock has a market cap of $395.51 million, a price-to-earnings ratio of 29.45 and a beta of 1.36.

Flotek Industries (NYSE:FTK - Get Free Report) last announced its earnings results on Tuesday, May 6th. The oil and gas company reported $0.17 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.06 by $0.11. The firm had revenue of $55.36 million for the quarter, compared to analysts' expectations of $44.50 million. Flotek Industries had a net margin of 7.09% and a return on equity of 12.76%. Sell-side analysts predict that Flotek Industries will post 0.29 earnings per share for the current fiscal year.

Insider Activity

In other Flotek Industries news, Director Matthew Wilks acquired 103,514 shares of the company's stock in a transaction dated Monday, May 12th. The shares were purchased at an average cost of $12.24 per share, for a total transaction of $1,267,011.36. Following the completion of the purchase, the director owned 144,350 shares in the company, valued at approximately $1,766,844. This trade represents a 253.49% increase in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which can be accessed through this link. Insiders have purchased 149,766 shares of company stock worth $1,841,758 in the last 90 days. 3.02% of the stock is currently owned by company insiders.

Hedge Funds Weigh In On Flotek Industries

A number of hedge funds and other institutional investors have recently modified their holdings of FTK. Hillsdale Investment Management Inc. bought a new position in shares of Flotek Industries during the fourth quarter valued at approximately $4,418,000. S Squared Technology LLC acquired a new stake in Flotek Industries in the first quarter valued at approximately $2,170,000. Royce & Associates LP acquired a new stake in Flotek Industries in the first quarter valued at approximately $1,167,000. EAM Investors LLC acquired a new stake in Flotek Industries in the fourth quarter valued at approximately $941,000. Finally, Arrowstreet Capital Limited Partnership acquired a new stake in Flotek Industries in the fourth quarter valued at approximately $826,000. 10.90% of the stock is currently owned by institutional investors.

About Flotek Industries

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).