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

Key Points

• Flotek Industries, Inc. (NYSE:FTK) has received a consensus recommendation of "Buy" from analysts, with three analysts rating it as a buy and one as a strong buy, and a 1-year target price averaging $14.33.
• The company's recent earnings report showed a profit of $0.16 per share, exceeding the expectations of $0.13, along with revenues of $58.35 million, surpassing the forecast of $52.40 million.
• Insider trading activities include CFO James Bond Clement and CEO Ryan Gillis Ezell selling substantial shares of Flotek stock, which resulted in a significant decrease in their ownership percentages.

Shares of Flotek Industries, Inc. (NYSE:FTK - Get Free Report) have earned a consensus recommendation of "Buy" from the four ratings firms that are covering the firm, MarketBeat Ratings reports. Three investment analysts have rated the stock with a buy rating and one has assigned a strong buy rating to the company. The average 1-year target price among analysts that have updated their coverage on the stock in the last year is $14.3333.

Several equities research analysts have recently weighed in on the company. Northland Securities raised Flotek Industries from a "market perform" rating to an "outperform" rating and set a $16.00 price objective for the company in a research note on Wednesday, August 6th. Northland Capmk raised Flotek Industries from a "hold" rating to a "strong-buy" rating in a research note on Wednesday, August 6th. Wall Street Zen lowered Flotek Industries from a "strong-buy" rating to a "buy" rating in a research note on Sunday, August 3rd. Finally, Alliance Global Partners assumed coverage on Flotek Industries in a research note on Thursday, June 12th. They set a "buy" rating and a $19.00 price objective for the company.

Flotek Industries Stock Down 0.0%

Shares of FTK stock opened at $12.14 on Friday. Flotek Industries has a 1 year low of $3.79 and a 1 year high of $16.87. The stock has a market cap of $362.35 million, a PE ratio of 27.58 and a beta of 1.32. The business's fifty day moving average is $12.99 and its 200-day moving average is $11.14. The company has a debt-to-equity ratio of 0.55, a quick ratio of 1.36 and a current ratio of 1.59.

Flotek Industries (NYSE:FTK - Get Free Report) last released its quarterly earnings data on Tuesday, August 5th. The oil and gas company reported $0.16 earnings per share for the quarter, topping the consensus estimate of $0.13 by $0.03. The business had revenue of $58.35 million during the quarter, compared to analyst estimates of $52.40 million. Flotek Industries had a return on equity of 17.67% and a net margin of 6.59%. Flotek Industries has set its FY 2025 guidance at EPS. Equities analysts expect that Flotek Industries will post 0.29 earnings per share for the current fiscal year.

Insider Buying and Selling at Flotek Industries

In other news, CFO James Bond Clement sold 45,732 shares of the firm's stock in a transaction on Wednesday, August 13th. The stock was sold at an average price of $12.74, for a total value of $582,625.68. Following the completion of the sale, the chief financial officer owned 95,439 shares of the company's stock, valued at $1,215,892.86. This trade represents a 32.39% decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is available at this link. Also, CEO Ryan Gillis Ezell sold 87,187 shares of Flotek Industries stock in a transaction on Thursday, August 14th. The shares were sold at an average price of $12.26, for a total value of $1,068,912.62. Following the transaction, the chief executive officer owned 156,855 shares in the company, valued at $1,923,042.30. This represents a 35.73% decrease in their position. The disclosure for this sale can be found here. Company insiders own 3.02% of the company's stock.

Institutional Inflows and Outflows

A number of institutional investors and hedge funds have recently modified their holdings of the business. Informed Momentum Co LLC grew its holdings in shares of Flotek Industries by 1.4% during the first quarter. Informed Momentum Co LLC now owns 100,105 shares of the oil and gas company's stock valued at $834,000 after buying an additional 1,380 shares in the last quarter. Jefferies Financial Group Inc. boosted its position in Flotek Industries by 3.2% during the first quarter. Jefferies Financial Group Inc. now owns 51,581 shares of the oil and gas company's stock valued at $430,000 after purchasing an additional 1,581 shares during the last quarter. Ritholtz Wealth Management boosted its position in Flotek Industries by 3.7% during the second quarter. Ritholtz Wealth Management now owns 81,027 shares of the oil and gas company's stock valued at $1,196,000 after purchasing an additional 2,901 shares during the last quarter. Police & Firemen s Retirement System of New Jersey acquired a new stake in Flotek Industries during the second quarter valued at $50,000. Finally, Bridgeway Capital Management LLC boosted its position in Flotek Industries by 5.2% during the fourth quarter. Bridgeway Capital Management LLC now owns 72,259 shares of the oil and gas company's stock valued at $689,000 after purchasing an additional 3,600 shares during the last quarter. Hedge funds and other institutional investors own 10.90% of the company's stock.

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).

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