Flotek Industries, Inc. (NYSE:FTK) Receives Consensus Rating of "Moderate Buy" from Brokerages

Key Points

• Consensus "Moderate Buy": Five analysts cover Flotek (3 buys, 2 holds) with an average 12‑month target price of $21.33.
• CFO insider sale: CFO James Bond Clement sold 6,299 shares at $16.02 on Feb 24, trimming his stake by 4.88%; insiders own 2.40% of the company.
• Mixed quarterly results: Flotek reported $0.12 EPS (missing estimates by $0.01) while revenue of $70.05M beat consensus $63.08M, and analysts forecast ~0.71 EPS for the year.

Shares of Flotek Industries, Inc. (NYSE:FTK - Get Free Report) have earned an average recommendation of "Moderate Buy" from the five analysts that are presently covering the stock, Marketbeat reports. Two investment analysts have rated the stock with a hold rating and three have assigned a buy rating to the company. The average 12 month target price among brokers that have issued ratings on the stock in the last year is $21.3333.

Several equities analysts have recently commented on FTK shares. Zacks Research downgraded shares of Flotek Industries from a "strong-buy" rating to a "hold" rating in a report on Tuesday, February 3rd. Lake Street Capital started coverage on shares of Flotek Industries in a report on Thursday, January 29th. They issued a "buy" rating and a $25.00 target price on the stock. Finally, Weiss Ratings reissued a "hold (c+)" rating on shares of Flotek Industries in a report on Friday, March 27th.

Insiders Place Their Bets

In related news, CFO James Bond Clement sold 6,299 shares of the business's stock in a transaction on Tuesday, February 24th. The shares were sold at an average price of $16.02, for a total value of $100,909.98. Following the sale, the chief financial officer owned 122,837 shares in the company, valued at approximately $1,967,848.74. The trade was a 4.88% decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Corporate insiders own 2.40% of the company's stock.

Institutional Investors Weigh In On Flotek Industries

Several large investors have recently bought and sold shares of FTK. Goldman Sachs Group Inc. increased its position in Flotek Industries by 27.9% in the first quarter. Goldman Sachs Group Inc. now owns 120,927 shares of the oil and gas company's stock worth $1,007,000 after purchasing an additional 26,400 shares during the last quarter. Jane Street Group LLC increased its position in Flotek Industries by 88.5% in the first quarter. Jane Street Group LLC now owns 100,151 shares of the oil and gas company's stock worth $834,000 after purchasing an additional 47,018 shares during the last quarter. Acadian Asset Management LLC bought a new stake in Flotek Industries in the first quarter worth $332,000. Rhumbline Advisers increased its position in Flotek Industries by 1,542.4% in the second quarter. Rhumbline Advisers now owns 21,630 shares of the oil and gas company's stock worth $319,000 after purchasing an additional 20,313 shares during the last quarter. Finally, American Century Companies Inc. increased its position in Flotek Industries by 26.3% in the second quarter. American Century Companies Inc. now owns 39,140 shares of the oil and gas company's stock worth $578,000 after purchasing an additional 8,139 shares during the last quarter. Institutional investors own 10.90% of the company's stock.

Flotek Industries Stock Performance

FTK opened at $16.18 on Friday. The company has a current ratio of 1.83, a quick ratio of 1.63 and a debt-to-equity ratio of 0.34. The company has a market cap of $585.16 million, a price-to-earnings ratio of 20.74 and a beta of 1.39. The company's 50 day moving average is $16.54 and its 200 day moving average is $16.53. Flotek Industries has a 12-month low of $9.94 and a 12-month high of $20.41.

Flotek Industries (NYSE:FTK - Get Free Report) last released its earnings results on Tuesday, May 5th. The oil and gas company reported $0.12 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 firm had revenue of $70.05 million for the quarter, compared to the consensus estimate of $63.08 million. On average, equities research analysts predict that Flotek Industries will post 0.71 EPS for the current year.

About Flotek Industries

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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