Flotek Industries, Inc. (NYSE:FTK) Receives $21.33 Consensus Price Target from Brokerages

Flotek Industries, Inc. (NYSE:FTK) has been assigned a consensus recommendation of “Moderate Buy” from the five analysts that are presently covering the company, MarketBeat reports. Two research analysts have rated the stock with a hold recommendation and three have assigned a buy recommendation to the company. The average twelve-month price target among brokerages that have covered the stock in the last year is $21.3333.

FTK has been the subject of several research reports. Weiss Ratings reiterated a “hold (c+)” rating on shares of Flotek Industries in a research report on Monday, December 29th. Lake Street Capital began coverage on shares of Flotek Industries in a research note on Thursday, January 29th. They issued a “buy” rating and a $25.00 price objective on the stock. Northland Securities reaffirmed an “outperform” rating and set a $20.00 target price on shares of Flotek Industries in a research report on Wednesday, December 31st. Wall Street Zen downgraded Flotek Industries from a “buy” rating to a “hold” rating in a report on Sunday, November 16th. Finally, Zacks Research cut Flotek Industries from a “strong-buy” rating to a “hold” rating in a research note on Tuesday, February 3rd.

Flotek Industries Price Performance

FTK stock opened at $16.02 on Friday. The stock has a market cap of $481.44 million, a price-to-earnings ratio of 18.00 and a beta of 1.44. 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 $17.31 and a 200 day simple moving average of $15.38. Flotek Industries has a 1 year low of $6.05 and a 1 year high of $20.09.

Institutional Inflows and Outflows

A number of hedge funds and other institutional investors have recently modified their holdings of the company. Rhumbline Advisers increased its position in shares of Flotek Industries by 3.6% during the third quarter. Rhumbline Advisers now owns 22,400 shares of the oil and gas company’s stock worth $327,000 after buying an additional 770 shares during the period. First Trust Advisors LP grew its holdings in Flotek Industries by 3.2% during the 4th quarter. First Trust Advisors LP now owns 43,495 shares of the oil and gas company’s stock worth $749,000 after acquiring an additional 1,335 shares during the period. Barclays PLC raised its position in shares of Flotek Industries by 6.5% in the 4th quarter. Barclays PLC now owns 22,204 shares of the oil and gas company’s stock worth $383,000 after acquiring an additional 1,351 shares in the last quarter. Informed Momentum Co LLC lifted its stake in shares of Flotek Industries by 2.2% in the 4th quarter. Informed Momentum Co LLC now owns 63,959 shares of the oil and gas company’s stock valued at $1,102,000 after purchasing an additional 1,366 shares during the period. Finally, Aristides Capital LLC lifted its stake in shares of Flotek Industries by 4.6% in the 4th quarter. Aristides Capital LLC now owns 31,390 shares of the oil and gas company’s stock valued at $541,000 after purchasing an additional 1,390 shares during the period. Institutional investors and hedge funds own 10.90% of the company’s stock.

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.