Bank of America Increases TechnipFMC (NYSE:FTI) Price Target to $28.50

TechnipFMC (NYSE:FTI - Get Free Report) had its price objective upped by investment analysts at Bank of America from $24.00 to $28.50 in a research note issued to investors on Monday, Benzinga reports. The firm currently has a "buy" rating on the oil and gas company's stock. Bank of America's target price would indicate a potential upside of 11.85% from the stock's previous close.

A number of other equities analysts have also weighed in on the stock. Barclays upped their target price on shares of TechnipFMC from $32.00 to $33.00 and gave the stock an "overweight" rating in a research report on Tuesday, February 27th. TD Cowen raised their price objective on TechnipFMC from $26.00 to $28.00 and gave the company an "outperform" rating in a research report on Friday, February 23rd. ATB Capital set a $30.00 target price on TechnipFMC and gave the stock an "outperform" rating in a research report on Friday, December 22nd. StockNews.com cut TechnipFMC from a "buy" rating to a "hold" rating in a report on Thursday. Finally, HSBC cut TechnipFMC from a "buy" rating to a "hold" rating and set a $23.60 price objective on the stock. in a report on Friday, February 23rd. Five investment analysts have rated the stock with a hold rating and nine have given a buy rating to the company's stock. According to MarketBeat, the stock has an average rating of "Moderate Buy" and a consensus price target of $25.34.

TechnipFMC Price Performance

TechnipFMC stock traded down $0.39 during mid-day trading on Monday, hitting $25.48. The stock had a trading volume of 2,446,884 shares, compared to its average volume of 4,807,154. TechnipFMC has a one year low of $12.64 and a one year high of $27.26. The company has a current ratio of 1.16, a quick ratio of 0.92 and a debt-to-equity ratio of 0.32. The firm has a market capitalization of $11.14 billion, a P/E ratio of 212.35 and a beta of 1.65. The firm's 50 day moving average is $23.05 and its 200 day moving average is $21.19.

TechnipFMC (NYSE:FTI - Get Free Report) last released its quarterly earnings data on Thursday, February 22nd. The oil and gas company reported $0.14 earnings per share for the quarter, topping analysts' consensus estimates of $0.12 by $0.02. TechnipFMC had a return on equity of 6.37% and a net margin of 0.72%. The firm had revenue of $2.08 billion during the quarter, compared to analyst estimates of $1.90 billion. During the same quarter in the prior year, the company posted ($0.05) earnings per share. The business's quarterly revenue was up 22.6% compared to the same quarter last year. On average, sell-side analysts forecast that TechnipFMC will post 1.15 earnings per share for the current fiscal year.

Insider Transactions at TechnipFMC

In other news, Director Carvalho Filho Eleazar De sold 12,491 shares of the stock in a transaction that occurred on Friday, February 23rd. The shares were sold at an average price of $21.20, for a total value of $264,809.20. Following the completion of the sale, the director now owns 103,982 shares of the company's stock, valued at approximately $2,204,418.40. The transaction was disclosed in a filing with the SEC, which is accessible through this link. Corporate insiders own 0.93% of the company's stock.

Hedge Funds Weigh In On TechnipFMC

Several hedge funds and other institutional investors have recently made changes to their positions in FTI. Harbour Investments Inc. raised its stake in TechnipFMC by 366.7% in the third quarter. Harbour Investments Inc. now owns 1,400 shares of the oil and gas company's stock valued at $28,000 after buying an additional 1,100 shares in the last quarter. Parkside Financial Bank & Trust acquired a new stake in shares of TechnipFMC during the 3rd quarter worth about $29,000. Johnson Financial Group Inc. acquired a new stake in shares of TechnipFMC during the 4th quarter worth about $33,000. Quarry LP lifted its stake in TechnipFMC by 76.6% during the fourth quarter. Quarry LP now owns 1,770 shares of the oil and gas company's stock worth $36,000 after purchasing an additional 768 shares during the last quarter. Finally, Harvest Fund Management Co. Ltd acquired a new position in TechnipFMC in the fourth quarter valued at approximately $45,000. Hedge funds and other institutional investors own 96.58% of the company's stock.

TechnipFMC Company Profile

TechnipFMC plc engages in the energy projects, technologies, and systems and services businesses in Europe, Central Asia, North America, Latin America, the Asia Pacific, Africa, the Middle East, and internationally. It operates through two segments: Subsea and Surface Technologies. The Subsea segment engages in the design, engineering, procurement, manufacturing, fabrication, installation, and life of field services for subsea systems, subsea field infrastructure, and subsea pipe systems used in oil and gas production and transportation.