Shares of FMC Technologies, Inc. (NYSE:FTI) have received an average recommendation of “Buy” from the twenty ratings firms that are currently covering the firm, Marketbeat Ratings reports. Two investment analysts have rated the stock with a sell recommendation, six have given a hold recommendation and twelve have issued a buy recommendation on the company. The average 1-year price target among brokers that have updated their coverage on the stock in the last year is $35.88.

FTI has been the subject of several research analyst reports. UBS AG reiterated a “buy” rating and issued a $36.00 price objective (down previously from $40.00) on shares of FMC Technologies in a report on Monday, July 31st. BMO Capital Markets reiterated a “hold” rating and issued a $35.00 price objective on shares of FMC Technologies in a report on Thursday, June 22nd. Seaport Global Securities cut FMC Technologies from a “buy” rating to a “neutral” rating and dropped their price objective for the stock from $40.00 to $26.00 in a report on Wednesday, June 21st. BidaskClub cut FMC Technologies from a “sell” rating to a “strong sell” rating in a report on Tuesday, June 20th. Finally, Barclays PLC set a $33.00 price objective on FMC Technologies and gave the stock a “hold” rating in a report on Saturday, May 6th.

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FMC Technologies (FTI) traded up 0.7043% during trading on Friday, hitting $25.7501. The company had a trading volume of 1,422,884 shares. The stock has a market capitalization of $12.03 billion, a price-to-earnings ratio of 31.1368 and a beta of 0.92. The company’s 50 day moving average price is $27.48 and its 200-day moving average price is $30.24. FMC Technologies has a 1-year low of $25.45 and a 1-year high of $36.14.

FMC Technologies (NYSE:FTI) last released its quarterly earnings data on Wednesday, July 26th. The oil and gas company reported $0.45 earnings per share for the quarter, topping the consensus estimate of $0.37 by $0.08. The business had revenue of $3.85 billion during the quarter, compared to analysts’ expectations of $3.80 billion. On average, analysts expect that FMC Technologies will post $1.06 EPS for the current year.

FMC Technologies declared that its Board of Directors has initiated a share buyback plan on Wednesday, April 26th that authorizes the company to buyback $500.00 million in shares. This buyback authorization authorizes the oil and gas company to reacquire up to 135% of its stock through open market purchases. Stock buyback plans are usually a sign that the company’s management believes its shares are undervalued.

In other FMC Technologies news, CFO Maryann T. Mannen sold 6,500 shares of FMC Technologies stock in a transaction on Monday, June 5th. The stock was sold at an average price of $29.20, for a total transaction of $189,800.00. Following the completion of the transaction, the chief financial officer now owns 309,261 shares in the company, valued at $9,030,421.20. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Also, EVP Bradley D. Beitler sold 12,000 shares of FMC Technologies stock in a transaction on Monday, May 22nd. The shares were sold at an average price of $32.00, for a total value of $384,000.00. Following the transaction, the executive vice president now owns 87,886 shares of the company’s stock, valued at approximately $2,812,352. The disclosure for this sale can be found here. 0.86% of the stock is currently owned by insiders.

A number of hedge funds and other institutional investors have recently made changes to their positions in FTI. Quantitative Systematic Strategies LLC bought a new position in shares of FMC Technologies during the first quarter worth about $471,000. Louisiana State Employees Retirement System boosted its position in shares of FMC Technologies by 102.1% in the first quarter. Louisiana State Employees Retirement System now owns 28,700 shares of the oil and gas company’s stock worth $933,000 after buying an additional 14,500 shares during the last quarter. Retirement Systems of Alabama boosted its position in shares of FMC Technologies by 104.8% in the first quarter. Retirement Systems of Alabama now owns 225,543 shares of the oil and gas company’s stock worth $7,330,000 after buying an additional 115,437 shares during the last quarter. Mckinley Capital Management LLC Delaware bought a new position in shares of FMC Technologies during the first quarter worth about $55,640,000. Finally, Aberdeen Asset Management PLC UK boosted its position in shares of FMC Technologies by 11.1% in the first quarter. Aberdeen Asset Management PLC UK now owns 332,434 shares of the oil and gas company’s stock worth $10,804,000 after buying an additional 33,198 shares during the last quarter. Institutional investors and hedge funds own 65.57% of the company’s stock.

About FMC Technologies

FMC Technologies, Inc is a global provider of technology solutions for the energy industry. The Company designs, manufactures and services a range of systems and products, including subsea production and processing systems, surface wellhead production systems, high pressure fluid control equipment, measurement solutions and marine loading systems.

Analyst Recommendations for FMC Technologies (NYSE:FTI)

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