Editor's Note: Any reference to TheStreet Ratings and its underlying recommendation does not reflect the opinion of TheStreet, Inc. or any of its contributors including Jim Cramer or Stephanie Link. Trade-Ideas LLC identified Forum Energy Technologies ( FET) as a new lifetime high candidate. In addition to specific proprietary factors, Trade-Ideas identified Forum Energy Technologies as such a stock due to the following factors:
- FET has an average dollar-volume (as measured by average daily share volume multiplied by share price) of $19.0 million.
- FET has traded 7,158 shares today.
- FET is trading at a new lifetime high.
EXCLUSIVE OFFER: Get the inside scoop on opportunities in FET with the Ticky from Trade-Ideas. See the FREE profile for FET NOW at Trade-Ideas More details on FET: Forum Energy Technologies, Inc. designs, manufactures, and distributes products to the oil and natural gas industry in the United States and internationally. The company operates in two segments, Drilling & Subsea, and Production & Infrastructure. FET has a PE ratio of 23.8. Currently there are 9 analysts that rate Forum Energy Technologies a buy, no analysts rate it a sell, and 3 rate it a hold. The average volume for Forum Energy Technologies has been 591,500 shares per day over the past 30 days. Forum Energy has a market cap of $3.1 billion and is part of the basic materials sector and energy industry. The stock has a beta of 1.02 and a short float of 2.7% with 2.41 days to cover. Shares are up 19.2% year-to-date as of the close of trading on Thursday. STOCKS TO BUY: TheStreet Quant Ratings has identified a handful of stocks that can potentially TRIPLE in the next 12 months. Learn more. TheStreetRatings.com Analysis: TheStreet Quant Ratings rates Forum Energy Technologies as a buy. The company's strengths can be seen in multiple areas, such as its revenue growth, largely solid financial position with reasonable debt levels by most measures, good cash flow from operations, expanding profit margins and growth in earnings per share. We feel these strengths outweigh the fact that the company has had somewhat disappointing return on equity. Highlights from the ratings report include:
- Despite its growing revenue, the company underperformed as compared with the industry average of 11.2%. Since the same quarter one year prior, revenues slightly increased by 8.3%. This growth in revenue appears to have trickled down to the company's bottom line, improving the earnings per share.
- The current debt-to-equity ratio, 0.35, is low and is below the industry average, implying that there has been successful management of debt levels. Along with the favorable debt-to-equity ratio, the company maintains an adequate quick ratio of 1.39, which illustrates the ability to avoid short-term cash problems.
- Net operating cash flow has significantly increased by 120.69% to $62.89 million when compared to the same quarter last year. In addition, FORUM ENERGY TECH INC has also vastly surpassed the industry average cash flow growth rate of 49.33%.
- 35.61% is the gross profit margin for FORUM ENERGY TECH INC which we consider to be strong. It has increased from the same quarter the previous year. Regardless of the strong results of the gross profit margin, the net profit margin of 9.04% trails the industry average.
- FORUM ENERGY TECH INC has improved earnings per share by 11.8% in the most recent quarter compared to the same quarter a year ago. This company has reported somewhat volatile earnings recently. But, we feel it is poised for EPS growth in the coming year. During the past fiscal year, FORUM ENERGY TECH INC reported lower earnings of $1.37 versus $1.72 in the prior year. This year, the market expects an improvement in earnings ($1.80 versus $1.37).
- You can view the full Forum Energy Technologies Ratings Report.
STOCKS TO BUY: TheStreet Quant Ratings has identified a handful of stocks that can potentially TRIPLE in the next 12 months. Learn more.