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

Key Points

• Flotek Industries, Inc. has received a consensus recommendation of "Buy" from five research firms, with an average 12-month target price of $14.33.
• Insider sales have occurred, as both CFO James Bond Clement and CEO Ryan Gillis Ezell sold a significant number of shares, reducing their ownership by 32.39% and 35.73%, respectively.
• In its latest quarterly earnings report, Flotek Industries beat expectations, posting $0.16 earnings per share and $58.35 million in revenue, surpassing the analyst consensus of $52.40 million.

Shares of Flotek Industries, Inc. (NYSE:FTK - Get Free Report) have received a consensus recommendation of "Buy" from the five research firms that are covering the company, Marketbeat reports. One research analyst has rated the stock with a hold recommendation, three have assigned a buy recommendation and one has assigned a strong buy recommendation to the company. The average 12-month target price among brokerages that have covered the stock in the last year is $14.3333.

Several equities research analysts recently commented on the company. Northland Capmk raised Flotek Industries from a "hold" rating to a "strong-buy" rating in a report on Wednesday, August 6th. Wall Street Zen raised Flotek Industries from a "hold" rating to a "buy" rating in a report on Monday, October 6th. Weiss Ratings reissued a "hold (c)" rating on shares of Flotek Industries in a report on Wednesday, October 8th. Finally, Northland Securities raised 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, August 6th.

Insider Buying and Selling at Flotek Industries

In other Flotek Industries news, CFO James Bond Clement sold 45,732 shares of the company'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 transaction, the chief financial officer owned 95,439 shares of the company's stock, valued at approximately $1,215,892.86. This represents a 32.39% decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, CEO Ryan Gillis Ezell sold 87,187 shares of the company's 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 completion of the transaction, the chief executive officer directly 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. 3.02% of the stock is currently owned by corporate insiders.

Hedge Funds Weigh In On Flotek Industries

Several institutional investors and hedge funds have recently added to or reduced their stakes in FTK. Police & Firemen s Retirement System of New Jersey purchased a new position in Flotek Industries during the 2nd quarter worth approximately $50,000. Kathmere Capital Management LLC purchased a new position in Flotek Industries during the 1st quarter worth approximately $85,000. Victory Capital Management Inc. purchased a new position in Flotek Industries during the 1st quarter worth approximately $96,000. New York State Common Retirement Fund purchased a new position in Flotek Industries during the 2nd quarter worth approximately $102,000. Finally, Bard Associates Inc. purchased a new position in Flotek Industries during the 1st quarter worth approximately $111,000. 10.90% of the stock is currently owned by hedge funds and other institutional investors.

Flotek Industries Stock Performance

FTK opened at $14.59 on Monday. The business's 50 day moving average is $13.26 and its 200-day moving average is $12.45. The stock has a market cap of $435.51 million, a PE ratio of 33.15 and a beta of 1.18. The company has a current ratio of 1.59, a quick ratio of 1.36 and a debt-to-equity ratio of 0.55. Flotek Industries has a twelve month low of $4.70 and a twelve month high of $17.92.

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

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