Forum Energy Technologies reaches new 52-week high

Forum Energy Technologies, Inc. (NYSE: FET) reached a new 52-week high during mid-day trading on Monday, with the stock price hitting as high as $87.63. The company, an oil and gas firm, recently reported quarterly earnings that exceeded analyst expectations, posting an EPS of $1.16 against a consensus estimate of $0.56. Revenue for the quarter was $226.22 million, surpassing the estimated $212.35 million.

Market analysts have provided varying outlooks on the stock. While Weiss Ratings maintained a ‘sell (d-)’ rating, both Wall Street Zen and Zacks Research recently upgraded the company to a ‘strong-buy’ rating. The company currently holds a market capitalization of approximately $1.01 billion.