Stock Rating Upgrade
In the last week the Value Trend Rating for Forum Energy Technologies Inc (NYSE: FET) improved from D to C reflecting improving fundamentals and high Appreciation Potential.
Recent Price Action
On 4/19/24, Forum Energy Technologies Inc (NYSE: FET) stock enjoyed a large increase of 2.8%, closing at $19.55. Moreover, trading volume in this advance was above average at 125% of normal. Relative to the market the stock has been weak over the last nine months and has declined -0.7% during the last week.
Current PriceTarget Research Rating
With future capital returns forecasted to be above the cost of capital, FET is expected to be a modest Value Builder.
Forum Energy Technologies has a current Value Trend Rating of C (Neutral). This VT Rating improved in recent days from D previously. With this rating, PTR’s two proprietary measures of a stock’s current attractiveness are providing very contradictory signals. Forum Energy Technologies has a good Appreciation Score of 72 but a poor Power Rating of 27, triggering the Neutral Value Trend Rating.
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