FTI Consulting Inc. (FCN) Downgraded by Zacks Investment Research to “Sell”
FTI Consulting Inc. (NYSE:FCN) was downgraded by Zacks Investment Research from a “hold” rating to a “sell” rating in a research note issued on Wednesday.
According to Zacks, “FTI Consulting is highly exposed to foreign exchange rate risks and pricing pressure due to the Brexit referendum, undermining its growth prospects to some extent. The company is likely to be stifled by the higher tariff and non-tariff barriers to trade between the U.K. and the European Union, lowering its productivity. Clients’ spending patterns also remain cautious, given the concerns over the current market environment, volatile financial markets and a lack of visibility regarding the impact of future tax and regulatory policies. The company has a positive earnings history in the trailing four quarters, beating estimates thrice. Earnings estimates have also remained steady in the last week. The company has planned significant investments to expand its Technology business, which are likely to boost its earnings going forward. Acquisitions in high-growth segments and strategic hires could also turn the company’s fortunes.”
Separately, Deutsche Bank AG assumed coverage on shares of FTI Consulting in a research note on Wednesday, August 17th. They set a “hold” rating and a $44.00 target price for the company.
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Shares of FTI Consulting (NYSE:FCN) traded down 0.81% on Wednesday, hitting $42.97. The stock had a trading volume of 29,652 shares. The company’s 50 day moving average is $43.34 and its 200 day moving average is $40.32. The stock has a market cap of $1.75 billion, a PE ratio of 23.14 and a beta of 0.26. FTI Consulting has a one year low of $29.91 and a one year high of $45.98.
In related news, insider Holly Paul sold 598 shares of the stock in a transaction dated Friday, September 9th. The shares were sold at an average price of $43.42, for a total transaction of $25,965.16. Following the completion of the transaction, the insider now directly owns 5,449 shares of the company’s stock, valued at $236,595.58. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at the SEC website. Corporate insiders own 1.03% of the company’s stock.
A number of hedge funds and other institutional investors have recently bought and sold shares of the company. Dimensional Fund Advisors LP boosted its position in FTI Consulting by 0.6% in the second quarter. Dimensional Fund Advisors LP now owns 3,522,297 shares of the company’s stock valued at $143,284,000 after buying an additional 19,723 shares in the last quarter. Wellington Management Group LLP boosted its position in FTI Consulting by 20.6% in the first quarter. Wellington Management Group LLP now owns 3,057,908 shares of the company’s stock valued at $108,585,000 after buying an additional 521,317 shares in the last quarter. Vanguard Group Inc. boosted its position in shares of FTI Consulting by 3.9% in the second quarter. Vanguard Group Inc. now owns 2,997,430 shares of the company’s stock worth $121,936,000 after buying an additional 113,777 shares during the period. BlackRock Fund Advisors boosted its position in shares of FTI Consulting by 2.8% in the second quarter. BlackRock Fund Advisors now owns 2,039,670 shares of the company’s stock worth $82,974,000 after buying an additional 55,968 shares during the period. Finally, State Street Corp boosted its position in shares of FTI Consulting by 1.0% in the first quarter. State Street Corp now owns 1,258,846 shares of the company’s stock worth $44,705,000 after buying an additional 11,972 shares during the period. 93.54% of the stock is owned by hedge funds and other institutional investors.
FTI Consulting Company Profile
FTI Consulting, Inc (FTI Consulting) is a business advisory firm. The Company operates through five segments: Corporate Finance & Restructuring, Forensic and Litigation Consulting, Economic Consulting, Technology and Strategic Communications. Its Corporate Finance & Restructuring segment focuses on strategic, operational, financial and capital needs of businesses around the world.
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