Flotek Industries, Inc. (NYSE:FTK) Receives $17.50 Average PT from Brokerages

Shares of Flotek Industries, Inc. (NYSE:FTK) have been given an average rating of “Buy” by the four ratings firms that are currently covering the company, MarketBeat Ratings reports. One investment analyst has rated the stock with a hold rating, two have issued a buy rating and one has assigned a strong buy rating to the company. The average 1 year price target among brokers that have updated their coverage on the stock in the last year is $17.50.

A number of equities research analysts recently weighed in on FTK shares. Weiss Ratings restated a “hold (c+)” rating on shares of Flotek Industries in a research report on Monday, December 8th. Wall Street Zen cut Flotek Industries from a “buy” rating to a “hold” rating in a report on Sunday, November 16th.

Insiders Place Their Bets

In other Flotek Industries news, Director Harshavardhan V. Agadi sold 66,956 shares of the business’s stock in a transaction that occurred on Thursday, November 13th. The shares were sold at an average price of $14.71, for a total transaction of $984,922.76. Following the sale, the director directly owned 197,265 shares of the company’s stock, valued at $2,901,768.15. The trade was a 25.34% decrease in their position. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this link. 3.02% of the stock is owned by insiders.

Institutional Trading of Flotek Industries

Several institutional investors have recently modified their holdings of FTK. Millennium Management LLC grew its position in shares of Flotek Industries by 304.4% in the 3rd quarter. Millennium Management LLC now owns 809,398 shares of the oil and gas company’s stock valued at $11,817,000 after buying an additional 609,268 shares during the last quarter. Invesco Ltd. bought a new position in Flotek Industries during the 2nd quarter worth approximately $4,436,000. Manatuck Hill Partners LLC acquired a new position in shares of Flotek Industries in the 3rd quarter worth approximately $3,854,000. S Squared Technology LLC bought a new stake in shares of Flotek Industries in the 1st quarter valued at $2,170,000. Finally, UBS Group AG increased its position in shares of Flotek Industries by 512.8% during the third quarter. UBS Group AG now owns 232,966 shares of the oil and gas company’s stock worth $3,401,000 after buying an additional 194,951 shares during the period. Institutional investors own 10.90% of the company’s stock.

Flotek Industries Price Performance

FTK stock opened at $15.63 on Tuesday. The stock has a market cap of $469.81 million, a price-to-earnings ratio of 17.56 and a beta of 1.46. The company has a debt-to-equity ratio of 0.36, a current ratio of 1.77 and a quick ratio of 1.54. The company has a 50 day simple moving average of $15.60 and a 200 day simple moving average of $14.15. Flotek Industries has a 1 year low of $6.05 and a 1 year high of $18.96.

Flotek Industries (NYSE:FTK) last posted its earnings results on Tuesday, November 4th. The oil and gas company reported $0.20 earnings per share for the quarter, topping analysts’ consensus estimates of $0.15 by $0.05. The firm had revenue of $56.03 million for the quarter, compared to analysts’ expectations of $52.90 million. Flotek Industries had a net margin of 14.48% and a return on equity of 22.62%. Research analysts anticipate that Flotek Industries will post 0.29 EPS for the current fiscal 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).