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Wall Street Analysts’ Recommendations for Flotek Industries

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Analysts’ recommendations 

In this part, we’ll look at the Wall Street analysts’ recommendations for Flotek Industries (FTK) after 2Q17.

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Analysts’ rating

On August 10, 2017, according to data compiled by Reuters, all of the sell-side analysts tracking Flotek Industries rated it as a “buy” or some equivalent. None of the analysts rated Flotek as a “hold” or “sell.” In comparison, ~11% of the analysts tracking CARBO Ceramics (CRR) rated it as a “buy” or some equivalent on August 10, 2017. Approximately 78% of the sell-side analysts tracking CARBO Ceramics recommended a “hold.”

Rating changes 

Approximately 80% of the sell-side analysts recommended a “buy” for Flotek a year ago. In the past four months, the percentage of analysts recommending a “buy” or some equivalent for Flotek has remained unchanged at 100%. Flotek Industries accounts for 0.01% of the iShares Micro-Cap ETF (IWC). IWC has risen 13% in the past year—compared to a 60% fall in Flotek’s stock price during the same period. The SPX-INDEX has risen 12% in the past year.

Target prices 

On August 10, analysts’ mean target price for Flotek Industries was $9. Currently, Flotek is trading at ~$6.0, which implies ~51% upside at its current target price. Analysts’ average target price for Flotek fell from $10 in July 2017.

The mean target price, surveyed among the sell-side analysts, for McDermott International (MDR) is $8.5. Currently, McDermott International is trading at ~$6.2, which implies ~37% upside at its mean target price. The mean target price, surveyed among the sell-side analysts, for Core Laboratories (CLB) is $114.4. Currently, Core Laboratories is trading at $94.1, which implies 22% potential returns at its average target price.

To learn more about the OFS industry, read The Oilfield Equipment and Services Industry: A Primer.

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