TechnipFMC (NYSE:FTI) Stock Rating Upgraded by Zacks Research

Key Points

• Zacks Research upgraded TechnipFMC from “hold” to “strong buy.” Overall, analysts rate the stock “Moderate Buy,” with a consensus price target of $72.08.
• TechnipFMC reported quarterly EPS of $0.91, exceeding the $0.80 estimate, while revenue reached $2.76 billion—up 9% year over year and above expectations.
• Institutional investors own 96.58% of the company, while insiders own 1.40%; recent activity included major purchases by BlackRock and Amundi, alongside an insider stock sale.

TechnipFMC (NYSE:FTI - Get Free Report) was upgraded by equities researchers at Zacks Research from a "hold" rating to a "strong-buy" rating in a report issued on Monday, Zacks reports.

Several other research analysts also recently issued reports on FTI. Weiss Ratings downgraded shares of TechnipFMC from a "buy (a-)" rating to a "buy (b+)" rating in a research report on Friday. Wall Street Zen cut shares of TechnipFMC from a "buy" rating to a "hold" rating in a report on Saturday, August 1st. Citigroup increased their target price on shares of TechnipFMC from $80.00 to $85.00 and gave the stock a "buy" rating in a research note on Tuesday, September 15th. Finally, Susquehanna dropped their price target on TechnipFMC from $90.00 to $85.00 and set a "positive" rating on the stock in a research report on Wednesday, July 8th. One analyst has rated the stock with a Strong Buy rating, twelve have assigned a Buy rating and two have issued a Hold rating to the stock. According to MarketBeat, the company currently has an average rating of "Moderate Buy" and a consensus target price of $72.08.

TechnipFMC Price Performance

Shares of NYSE FTI opened at $70.08 on Monday. The company has a current ratio of 1.08, a quick ratio of 0.85 and a debt-to-equity ratio of 0.10. TechnipFMC has a twelve month low of $35.29 and a twelve month high of $80.70. The stock has a 50 day moving average of $73.99 and a two-hundred day moving average of $71.81. The stock has a market cap of $27.48 billion, a P/E ratio of 24.33, a P/E/G ratio of 1.13 and a beta of 0.83.

TechnipFMC (NYSE:FTI - Get Free Report) last announced its earnings results on Thursday, July 30th. The oil and gas company reported $0.91 earnings per share (EPS) for the quarter, topping analysts' consensus estimates of $0.80 by $0.11. TechnipFMC had a net margin of 11.28% and a return on equity of 36.54%. The business had revenue of $2.76 billion for the quarter, compared to analyst estimates of $2.67 billion. During the same period last year, the firm posted $0.68 earnings per share. The company's revenue for the quarter was up 9.0% compared to the same quarter last year. On average, research analysts forecast that TechnipFMC will post 3.2 earnings per share for the current year.

Insiders Place Their Bets

In other news, insider Thierry Conti sold 6,000 shares of the firm's stock in a transaction on Monday, September 21st. The shares were sold at an average price of $71.85, for a total value 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 trade represents a 6.54% decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, Director Eric Mullins acquired 6,365 shares of TechnipFMC stock in a transaction that occurred on Friday, August 14th. The stock was purchased at an average price of $78.55 per share, with a total value of $499,970.75. Following the transaction, the director owned 8,070 shares of the company's stock, valued at $633,898.50. This trade represents a 373.31% increase in their ownership of the stock. The SEC filing for this purchase provides additional information. 1.40% of the stock is currently owned by corporate insiders.

Institutional Investors Weigh In On TechnipFMC

Hedge funds and other institutional investors have recently modified their holdings of the stock. BlackRock Inc. purchased a new position in TechnipFMC in the 2nd quarter valued at approximately $3,081,514,000. Amundi grew its holdings in TechnipFMC by 72.6% in the second quarter. Amundi now owns 4,358,115 shares of the oil and gas company's stock valued at $288,943,000 after purchasing an additional 1,832,581 shares during the last quarter. Bank of America Corp DE purchased a new position in shares of TechnipFMC in the second quarter valued at $226,069,000. Bank of New York Mellon Corp raised its stake in shares of TechnipFMC by 7.3% during the 1st quarter. Bank of New York Mellon Corp now owns 2,878,798 shares of the oil and gas company's stock worth $199,011,000 after buying an additional 194,799 shares during the last quarter. Finally, Danske Bank A S acquired a new position in shares of TechnipFMC during the 2nd quarter worth $163,822,000. 96.58% of the stock is currently owned by institutional investors and hedge funds.

About TechnipFMC

TechnipFMC plc NYSE: FTI is an energy technology company that provides products, systems and services for the development and production of oil and natural gas resources. Its operations are organized primarily across Subsea and Surface Technologies, serving offshore and onshore energy projects throughout the world.

The company's Subsea business designs and supplies integrated solutions for offshore field development, including subsea production systems, subsea controls, flexible pipe, umbilicals, installation services and lifecycle support.

This instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest reporting and unbiased coverage. Please send any questions or comments about this story to contact@marketbeat.com.