TechnipFMC (NYSE:FTI) Stock Rating Upgraded by Wall Street Zen

Key Points

• Wall Street Zen upgraded TechnipFMC from “hold” to “buy.” Analysts overall also lean positive, with an average “Buy” rating and a $78.18 average price target.
• TechnipFMC beat quarterly expectations, reporting EPS of $1.05 versus $0.88 forecast and revenue of $2.90 billion versus $2.79 billion; revenue rose 9.4% year over year.
• The shares opened at $66.06 and had traded between $42.46 and $80.70 over the past year.

TechnipFMC (NYSE:FTI - Get Free Report) was upgraded by equities researchers at Wall Street Zen from a "hold" rating to a "buy" rating in a research note issued on Saturday, Wall Street Zen reports.

Several other equities research analysts have also recently commented on the company. UBS Group initiated coverage on TechnipFMC in a research note on Monday, October 12th. They issued a "buy" rating and a $89.00 price target for the company. Weiss Ratings lowered shares of TechnipFMC from a "buy (a-)" rating to a "buy (b+)" rating in a research report on Friday, October 30th. Citigroup raised their price objective on shares of TechnipFMC from $80.00 to $85.00 and gave the company a "buy" rating in a research report on Tuesday, September 15th. Barclays lifted their target price on shares of TechnipFMC from $86.00 to $90.00 and gave the company an "overweight" rating in a research note on Monday, November 2nd. Finally, Zacks Research raised shares of TechnipFMC from a "hold" rating to a "strong-buy" rating in a research report on Monday, October 5th. Two research analysts have rated the stock with a Strong Buy rating, ten have issued a Buy rating and two have issued a Hold rating to the stock. According to data from MarketBeat, the company currently has an average rating of "Buy" and an average target price of $78.18.

TechnipFMC Price Performance

Shares of NYSE:FTI opened at $66.06 on Friday. The firm has a market cap of $25.69 billion, a price-to-earnings ratio of 20.77, a P/E/G ratio of 1.01 and a beta of 0.89. TechnipFMC has a 1 year low of $42.46 and a 1 year high of $80.70. The company has a current ratio of 1.09, a quick ratio of 0.86 and a debt-to-equity ratio of 0.10. The business has a fifty day simple moving average of $69.83 and a 200 day simple moving average of $69.57.

TechnipFMC (NYSE:FTI - Get Free Report) last issued its earnings results on Thursday, October 29th. The oil and gas company reported $1.05 EPS for the quarter, beating analysts' consensus estimates of $0.88 by $0.17. TechnipFMC had a return on equity of 39.82% and a net margin of 12.04%. The firm had revenue of $2.90 billion for the quarter, compared to the consensus estimate of $2.79 billion. During the same quarter in the previous year, the company posted $0.75 earnings per share. The business's quarterly revenue was up 9.4% compared to the same quarter last year. As a group, sell-side analysts predict that TechnipFMC will post 3.31 earnings per share for the current fiscal year.

Insider Buying and Selling at TechnipFMC

In other news, insider Thierry Conti sold 6,000 shares of the company's stock in a transaction dated Monday, September 21st. The stock was sold at an average price of $71.85, for a total transaction of $431,100.00. Following the completion of the sale, the insider owned 85,813 shares in the company, valued at approximately $6,165,664.05. This represents a 6.54% decrease in their position. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. 1.40% of the stock is owned by corporate insiders.

Institutional Investors Weigh In On TechnipFMC

A number of large investors have recently added to or reduced their stakes in the stock. Focus Partners Advisor Solutions LLC bought a new position in shares of TechnipFMC during the 2nd quarter worth about $3,470,000. Chase Investment Counsel Corp acquired a new position in shares of TechnipFMC during the second quarter valued at about $12,397,000. Globeflex Capital L P acquired a new position in shares of TechnipFMC during the second quarter valued at about $1,011,000. Proficio Capital Partners LLC bought a new stake in shares of TechnipFMC in the second quarter valued at about $1,301,000. Finally, Raiffeisen Bank International AG bought a new stake in shares of TechnipFMC in the second quarter valued at about $2,337,000. Institutional investors own 96.58% of the company's stock.

TechnipFMC Company Profile

TechnipFMC is a global technology and services company serving the energy industry. It designs and delivers equipment and solutions for offshore and onshore oil and gas projects, with a particular focus on subsea production and related services. Its offerings include subsea production systems, subsea installation and project services, and surface wellhead and production equipment. TechnipFMC also provides engineering and project-management capabilities, working with customers to develop and operate energy projects.

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