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Wall Street Analysts’ Forecasts for Flotek Industries

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Analysts’ forecasts 

In this part, we’ll look at Wall Street analysts’ forecasts for Flotek Industries (FTK) shares following its 1Q17 earnings release.

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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.

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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.

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