Wall Street’s forecasts for Flotek Industries
Analysts’ rating for Flotek Industries
On February 20, all the sell-side analysts tracking Flotek Industries rated it a “buy” or equivalent. None of the sell-side analysts recommended a “hold” or “sell” or equivalent. Flotek Industries is 0.03% of the iShares Russell 2000 Value ETF (IWN). IWN has increased 1% in the past year versus a 56% fall in FTK’s stock price during the period.
In comparison, approximately 47% of the Wall Street analysts tracking Core Laboratories (CLB) rated it a “buy” or some equivalent on February 20. Approximately 53% rated the company a “hold,” and none of the sell-side analysts tracking CLB rated it a “sell” or equivalent.
Analysts’ rating changes for FTK
From November 20, 2017, to February 20, 2018, the percentage of analysts recommending a “buy” or equivalent for FTK remained unchanged at 100%. Analysts’ “hold” and “sell” recommendations have remained nil for FTK. A year ago, all the sell-side analysts recommended a “buy” for FTK.
Analysts’ target prices for FTK
Wall Street analysts’ mean target price on February 20 was ~$7.0 for Flotek Industries. FTK is currently trading at ~$5.6, implying ~25% upside at its current price. Analysts’ average target price for FTK was $7.0 a month ago.
Next in this series, we’ll discuss Wall Street analysts’ recommendations for Superior Energy Services (SPN).