FTI Consulting Inc. (FCN) Stock Rating Lowered by Zacks Investment Research
FTI Consulting Inc. (NYSE:FCN) was downgraded by Zacks Investment Research from a “hold” rating to a “sell” rating in a research note issued to investors 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 began coverage on FTI Consulting in a report on Wednesday, August 17th. They issued a “hold” rating and a $44.00 price target for the company.
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Shares of FTI Consulting (NYSE:FCN) traded up 0.32% during trading on Wednesday, hitting $43.46. The stock had a trading volume of 128,295 shares. The stock’s 50 day moving average is $43.34 and its 200-day moving average is $40.32. The company has a market cap of $1.77 billion, a PE ratio of 23.40 and a beta of 0.26. FTI Consulting has a 12-month low of $29.91 and a 12-month high of $45.98.
In other news, insider Holly Paul sold 598 shares of the firm’s stock in a transaction that occurred on Friday, September 9th. The stock was sold at an average price of $43.42, for a total value of $25,965.16. Following the completion of the sale, the insider now directly owns 5,449 shares of the company’s stock, valued at approximately $236,595.58. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this link. 1.03% of the stock is owned by insiders.
Hedge funds have recently bought and sold shares of the stock. Squarepoint Ops LLC acquired a new stake in FTI Consulting during the first quarter valued at approximately $247,000. Royal Bank of Canada boosted its stake in FTI Consulting by 673.6% in the first quarter. Royal Bank of Canada now owns 7,218 shares of the company’s stock valued at $256,000 after buying an additional 6,285 shares in the last quarter. Envestnet Asset Management Inc. boosted its stake in FTI Consulting by 21.4% in the first quarter. Envestnet Asset Management Inc. now owns 5,500 shares of the company’s stock valued at $195,000 after buying an additional 969 shares in the last quarter. Bayesian Capital Management LP acquired a new stake in FTI Consulting during the first quarter valued at approximately $220,000. Finally, Renaissance Technologies LLC boosted its stake in FTI Consulting by 24.7% in the first quarter. Renaissance Technologies LLC now owns 157,700 shares of the company’s stock valued at $5,600,000 after buying an additional 31,200 shares in the last quarter. 93.54% of the stock is owned by institutional investors and hedge funds.
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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