Flotek Industries (NYSE:FTK) Given New $8.00 Price Target at Roth Mkm

Flotek Industries (NYSE:FTK) had its price target upped by Roth Mkm from $6.50 to $8.00 in a research note published on Thursday morning,Benzinga reports. They currently have a buy rating on the oil and gas company’s stock.

Separately, Roth Capital raised Flotek Industries to a “strong-buy” rating in a report on Thursday, July 25th. One analyst has rated the stock with a hold rating, two have given a buy rating and one has issued a strong buy rating to the company’s stock. According to MarketBeat.com, the company has an average rating of “Buy” and a consensus target price of $7.50.

Flotek Industries Price Performance

Shares of FTK stock traded up $0.44 on Thursday, reaching $7.00. 241,372 shares of the stock were exchanged, compared to its average volume of 79,946. The stock has a market cap of $208.68 million, a PE ratio of 26.69 and a beta of 1.04. Flotek Industries has a one year low of $2.64 and a one year high of $7.24. The stock has a 50 day moving average price of $4.89 and a 200 day moving average price of $4.46.

Flotek Industries (NYSE:FTK) last announced its quarterly earnings results on Monday, November 4th. The oil and gas company reported $0.08 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.07 by $0.01. The company had revenue of $49.74 million during the quarter, compared to the consensus estimate of $50.40 million. Flotek Industries had a return on equity of 7.86% and a net margin of 4.58%. During the same period in the prior year, the company earned $0.04 earnings per share. On average, research analysts expect that Flotek Industries will post 0.27 earnings per share for the current fiscal year.

Institutional Trading of Flotek Industries

Several hedge funds and other institutional investors have recently made changes to their positions in FTK. Sanders Morris Harris LLC bought a new position in Flotek Industries in the 3rd quarter worth $137,000. Masters Capital Management LLC raised its stake in Flotek Industries by 3.8% in the first quarter. Masters Capital Management LLC now owns 500,000 shares of the oil and gas company’s stock worth $1,870,000 after buying an additional 18,524 shares in the last quarter. Finally, Vanguard Group Inc. grew its holdings in shares of Flotek Industries by 7.9% during the first quarter. Vanguard Group Inc. now owns 545,246 shares of the oil and gas company’s stock valued at $2,039,000 after buying an additional 39,695 shares during the last quarter. Hedge funds and other institutional investors own 10.90% of the company’s stock.

Flotek Industries Company Profile

Flotek Industries, Inc operates as a technology-driven green chemistry and data company that serves customers across industrial and commercial markets in the United States, the United Arab Emirates, and internationally. It operates through two segments: Chemistry Technologies (CT) and Data Analytics (DA).