In this part, we’ll look at Wall Street analysts’ forecasts for Flotek Industries (FTK) shares following its 1Q17 earnings release.
Analysts’ rating for Flotek Industries
On May 3, 2017, after Flotek Industries’ 1Q17 earnings were released, all of the sell-side analysts tracking Flotek Industries rated it as a “buy” or some equivalent, according to data compiled by Reuters. None of the analysts recommended a “hold,” “sell,” or some equivalent. Flotek Industries accounts for 0.18% of the iShares Micro-Cap ETF (IWC).
In comparison, ~10% of the analysts tracking CARBO Ceramics (CRR) rated it a “buy” or some equivalent. Approximately 80% rated the company as a “hold.”
Analysts’ rating changes
From February 3, 2017, to May 3, 2017, the percentage of analysts recommending a “buy” or some equivalent for Flotek Industries remained unchanged at 100%. A year ago, ~80% of the sell-side analysts recommended a “buy” for Flotek Industries.
Analysts’ target prices
On May 3, Wall Street analysts’ mean target price was ~$18.3. Currently, Flotek Industries is trading at ~$12.4, which implies ~48% upside at its current consensus mean price. A month ago, analysts’ average target price for Flotek Industries was unchanged at $18.3.
Target prices for Flotek Industries’ peers
The mean target price, surveyed among the sell-side analysts, for Key Energy Services (KEG) was $31 on May 3. Currently, Key Energy Services is trading at ~$24.6, which implies 26% upside at its average target price. The mean target price, surveyed among the sell-side analysts, for National Oilwell Varco (NOV) was $38.5 on May 3. Currently, National Oilwell Varco trading at ~$33.9, which implies 14% upside at its average target price. Read National Oilwell Varco: 1Q17 Earnings Overview to learn more about National Oilwell Varco’s 1Q17 earnings. The energy sector makes up 6.3% of SPX-INDEX. The SPX-INDEX rose 16% in the past year compared to a 30% rise in Flotek Industries’ stock price.
To learn about the OFS industry, read The Oilfield Equipment and Services Industry: A Primer.