TechnipFMC (NYSE:FTI) Downgraded by Zacks Research to "Hold"

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

Other analysts have also recently issued reports about the company. Citigroup upped their target price on TechnipFMC from $48.00 to $76.00 and gave the company a "buy" rating in a research report on Thursday, February 26th. Weiss Ratings cut TechnipFMC from a "buy (b+)" rating to a "buy (b)" rating in a research report on Tuesday, April 21st. BMO Capital Markets increased their price objective on TechnipFMC from $52.00 to $67.00 and gave the stock a "market perform" rating in a research report on Monday, February 23rd. The Goldman Sachs Group increased their price objective on TechnipFMC from $66.00 to $75.00 and gave the stock a "buy" rating in a research report on Wednesday, April 15th. Finally, Evercore reaffirmed an "outperform" rating and set a $83.00 price objective on shares of TechnipFMC in a research report on Friday. Thirteen investment analysts have rated the stock with a Buy rating and five have assigned a Hold rating to the company. According to data from MarketBeat, TechnipFMC currently has a consensus rating of "Moderate Buy" and an average target price of $65.40.

TechnipFMC Stock Up 0.6%

Shares of NYSE FTI opened at $75.05 on Monday. The stock has a market cap of $29.92 billion, a PE ratio of 28.65, a price-to-earnings-growth ratio of 1.51 and a beta of 0.74. The company has a quick ratio of 0.88, a current ratio of 1.13 and a debt-to-equity ratio of 0.13. TechnipFMC has a 52-week low of $28.87 and a 52-week high of $77.78. The business has a 50-day moving average price of $69.31 and a 200 day moving average price of $55.53.

TechnipFMC (NYSE:FTI - Get Free Report) last announced its earnings results on Thursday, April 30th. The oil and gas company reported $0.64 earnings per share (EPS) for the quarter, beating analysts' consensus estimates of $0.57 by $0.07. The firm had revenue of $2.49 billion during the quarter, compared to analysts' expectations of $2.52 billion. TechnipFMC had a return on equity of 34.06% and a net margin of 10.62%.The business's revenue was up 11.6% on a year-over-year basis. During the same period in the prior year, the firm earned $0.33 EPS. Equities research analysts forecast that TechnipFMC will post 2.93 earnings per share for the current year.

Insider Buying and Selling at TechnipFMC

In related news, insider Jonathan Landes sold 116,194 shares of the company's stock in a transaction on Monday, March 9th. The stock was sold at an average price of $62.20, for a total transaction of $7,227,266.80. Following the transaction, the insider owned 71,356 shares of the company's stock, valued at $4,438,343.20. This represents a 61.95% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is available at this link. Also, CFO Alf Melin sold 83,721 shares of the stock in a transaction on Monday, March 9th. The stock was sold at an average price of $61.83, for a total value of $5,176,469.43. Following the completion of the transaction, the chief financial officer owned 282,537 shares of the company's stock, valued at $17,469,262.71. The trade was a 22.86% decrease in their position. The SEC filing for this sale provides additional information. In the last quarter, insiders sold 1,216,442 shares of company stock worth $75,762,414. 1.40% of the stock is currently owned by company insiders.

Hedge Funds Weigh In On TechnipFMC

A number of institutional investors and hedge funds have recently made changes to their positions in FTI. V Square Quantitative Management LLC acquired a new position in shares of TechnipFMC during the 1st quarter worth $26,000. Harbor Investment Advisory LLC acquired a new position in shares of TechnipFMC during the 4th quarter worth $32,000. Newbridge Financial Services Group Inc. acquired a new position in shares of TechnipFMC during the 3rd quarter worth $32,000. Geneos Wealth Management Inc. grew its stake in shares of TechnipFMC by 45.3% during the 1st quarter. Geneos Wealth Management Inc. now owns 1,090 shares of the oil and gas company's stock worth $35,000 after purchasing an additional 340 shares during the period. Finally, Ascentis Independent Advisors acquired a new position in shares of TechnipFMC during the 1st quarter worth $37,000. 96.58% of the stock is owned by institutional investors and hedge funds.

TechnipFMC Company Profile

TechnipFMC is an integrated oilfield services and technology company that designs, manufactures and delivers systems and services for the energy industry. The company's activities span the full lifecycle of oil and gas projects, with capabilities in subsea production systems, surface wellhead and intervention equipment, and onshore/offshore engineering and construction. TechnipFMC combines engineering and project management with fabrication, installation and maintenance services to help operators develop and produce hydrocarbon resources.

Its product and service portfolio includes subsea hardware such as trees, manifolds, umbilicals, risers and flowlines, as well as surface equipment for drilling, completions and well intervention.

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