FTI Consulting (NYSE:FCN) Hits New 52-Week High - Should You Buy?

Key Points

• FTI Consulting shares reached a new 52-week high of $189.34, trading about 5.3% higher, with a market capitalization of approximately $5.25 billion.
• The company reported strong quarterly results, with earnings per share of $3.84 versus analyst expectations of $2.74, while revenue rose 5.9% year over year to $1.01 billion.
• Despite the stock’s rally, analysts maintain a consensus “Hold” rating and an average price target of $174.50, below the recent trading price; institutional investors own 99.36% of shares.

FTI Consulting, Inc. (NYSE:FCN - Get Free Report) hit a new 52-week high during trading on Monday. The company traded as high as $189.34 and last traded at $187.7910, with a volume of 78,798 shares trading hands. The stock had previously closed at $182.84.

Analyst Upgrades and Downgrades

Several analysts recently issued reports on the company. Weiss Ratings upgraded FTI Consulting from a "sell (d+)" rating to a "hold (c-)" rating in a research report on Monday, October 26th. Truist Financial reiterated a "hold" rating and set a $180.00 target price (up from $158.00) on shares of FTI Consulting in a research report on Monday. Two equities research analysts have rated the stock with a Hold rating. According to MarketBeat, the stock presently has an average rating of "Hold" and a consensus price target of $174.50.

FTI Consulting Trading Up 5.3%

The company has a 50 day moving average price of $147.19 and a 200 day moving average price of $159.93. The firm has a market cap of $5.25 billion, a price-to-earnings ratio of 24.01 and a beta of -0.16. The company has a debt-to-equity ratio of 0.64, a quick ratio of 1.72 and a current ratio of 1.72.

FTI Consulting (NYSE:FCN - Get Free Report) last posted its quarterly earnings results on Thursday, October 29th. The business services provider reported $3.84 earnings per share for the quarter, beating analysts' consensus estimates of $2.74 by $1.10. FTI Consulting had a return on equity of 18.41% and a net margin of 5.86%. The company had revenue of $1.01 billion for the quarter, compared to analysts' expectations of $1.01 billion. During the same period last year, the firm earned $2.60 earnings per share. FTI Consulting's quarterly revenue was up 5.9% on a year-over-year basis. On average, research analysts expect that FTI Consulting, Inc. will post 9.81 earnings per share for the current year.

Hedge Funds Weigh In On FTI Consulting

A number of hedge funds and other institutional investors have recently bought and sold shares of FCN. BlackRock Inc. bought a new position in FTI Consulting during the second quarter valued at about $408,202,000. Neumeier Poma Investment Counsel LLC acquired a new stake in FTI Consulting during the second quarter worth $44,699,275. Bank of New York Mellon Corp acquired a new stake in shares of FTI Consulting during the second quarter worth approximately $28,362,000. Diamond Hill Capital Management LLC Investment Advisor acquired a new stake in shares of FTI Consulting during the 2nd quarter worth approximately $28,307,000. Finally, Quantinno Capital Management LP increased its position in shares of FTI Consulting by 141.6% in the 1st quarter. Quantinno Capital Management LP now owns 256,490 shares of the business services provider's stock valued at $45,340,000 after buying an additional 150,348 shares in the last quarter. 99.36% of the stock is currently owned by institutional investors and hedge funds.

FTI Consulting Company Profile

FTI Consulting, Inc is a global business advisory firm that helps organizations address complex financial, legal, operational and reputational challenges. The company provides independent expertise to corporations, law firms, financial institutions, government agencies and other organizations involved in major disputes, transactions, investigations, restructurings and regulatory matters.

FTI Consulting operates through several practice areas, including Corporate Finance & Restructuring, Forensic and Litigation Consulting, Economic Consulting, Technology and Strategic Communications.

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