Flotek Industries Case Study

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Flotek Industries Inc (FTK) SELL recommendation - Flotek Industries Inc provides drilling and production products and services to the energy and mining industries. The Company offers oilfield specialty chemistries and logistics, downhole drilling tools, and production related tools.
• Valuation o CMP: $17.59, Market Cap $943 million, o Morning Star Forward P/E 32.3, Yahoo forward P/E for 2015E is 175.9 and 2016E is 37.4 o Price/Book 3.3 o P/S 2.4 o YTD return -6.09% o 3 month return +35.20% o Debt/Equity 0.1
• Flotek recorded 2Q15 revenue was $87 million, compared to $105.3 million for 2Q14, and $82.4 million for 1Q15. The decline is due to deep decline in oilfield activity.
• The Company started to refocus on Drilling Technologies due to

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