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What Are Wall Street’s Forecasts for Flotek before 4Q16 Earnings?

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Wall Street’s forecasts for Flotek Industries

In this article, we’ll look at the recent Wall Street analyst forecasts for Flotek Industries (FTK).

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Consensus rating for Flotek Industries

On January 13, all the analysts tracking Flotek Industries rated it a “buy” or some equivalent, according to data compiled by Reuters. FTK makes up 0.14% of the iShares Micro-Cap ETF (IWC).

In comparison, only 62% of analysts tracking Baker Hughes (BHI) rated it a “buy” or some equivalent on January 13, while approximately 35% of analysts tracking it rated it as a “hold” and the rest rated it a “sell.” For more information, read our pre-earnings analysis on Baker Hughes in What to Expect from Baker Hughes’s 4Q16 Earnings.

Analyst rating changes for FTK

From October 13, 2016, to January 13, 2017, the percentage of analysts recommending a “buy” or some equivalent for FTK has increased from 75% to 100%. Analysts’ “sell” recommendations fell to zero for FTK in the past four months. A year ago, ~67% of the sell-side analysts recommended a “buy” for FTK.

Analysts’ target prices for FTK and its peers

Wall Street analysts’ mean target price for FTK on January 13 was $16.0. FTK is currently trading at ~$9.6, implying a ~67% upside at its current mean price. A month ago, analysts’ average target price for FTK was at $17.3.

The mean target price surveyed among sell-side analysts for Precision Drilling (PDS) was $8.0 on January 13. PDS is currently trading at ~$5.43, implying a ~47% upside at its average target price. The mean target price surveyed among the sell-side analysts for Fairmount Santrol Holdings (FMSA) is $12.0 on January 13. FMSA is currently trading at $12.1, implying a 1% downside to its average price.

Learn more about the OFS industry in Market Realist’s The Oilfield Equipment and Services Industry: A Primer.

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