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SoTM Bull's Eye Report - Today's Most Compelling Buy
Wednesday, July 10, 2013
At StateoftheMarkets.com, we strive to "own the best and ignore the rest" in our equity portfolios. Toward this end, each day we search our database for a "top stock" (a top rated company in terms of earnings strength as well as company and industry performance) that presents a strong technical "set up" and a good entry point.
In short, when our equity team is looking to add a stock to one of our portfolios, the "bull's eye" stock shown below is generally their first choice.
Company
Symbol
Industry
Stock
Rating
YTD
% Gain S.T.
Stop
Loss Forum Energy Technologies Inc FET Oil & Gas Equipment & Services 7.2 +16.85% .61
Why We Like The Stock:
Forum Energy Technologies Inc (FET) is our most compelling buy today due to the fact that it is a top rated stock (in terms of earnings strength and company/industry performance) with a positive technical set-up. Oil & Gas Equipment & Services stocks have had a solid year thus far, as evidenced in charts like Tidewater Inc (TDW), Helix Energy Solutions Group (HLX), Bristow Group Inc (BRS), and FET. FET sports a positive intermediate-term trend, though it consolidates often. This can be seen as a good thing in this market, as it shows that FET isn't subject to hysterical momentum moves. The stock recently hit highs just north of in mid-June, which is a nice +6% short-term upside from current prices. After basing at last week, FET looks to be back on the upswing, crossing above its 5-day moving average this week and pushing the 10-day this morning. FET has also operated well above its 50-day moving average since the beginning of May, which is a healthy indicator. We like FET with a stop just below the 50-day for a run back up to and beyond.We Would Be Buyers:
At the current price (~.20).
Forum Energy Technologies, Inc. is an oilfield products company, serving the subsea, drilling, completion, production and infrastructure sectors of the oil and natural gas industry. The Company designs and manufactures products, and engage in aftermarket services, parts supply and related services that complement its product offering. It operates in two segments: Drilling and Subsea Segment and Production and Infrastructure Segment. In December 2012, the Company acquired Merrimac Manufacturing, Inc. (Merrimac). In May 2013, the Company acquired Blohm + Voss Oil Tools from STAR Capital Partners Limited.
Stock Rating:
The Stock Rating indicates the combined score of our proprietary Earning Strength and Company Performance models. The rating scale is 0 - 10 with 10 being the highest.
Disclosure:
At the time of publication the editor and affiliated companies own the following positions: FET
Note: Positions may be bought or sold while this publication is in circulation without notice.
Forum Energy Technologies Inc - Last 3 Months
Forum Energy Technologies Inc - Last 12 Months
Forum Energy Technologies Inc - Last 5 Years
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