FMC Corporation (FMC) Price Target Increased to $105.00 by Analysts at KeyCorp
FMC Corporation (NYSE:FMC) had its price target boosted by equities researchers at KeyCorp from $98.00 to $105.00 in a note issued to investors on Monday. The brokerage currently has a “buy” rating on the basic materials company’s stock. KeyCorp’s price objective points to a potential upside of 10.51% from the stock’s current price.
A number of other research analysts have also weighed in on the stock. Jefferies Group LLC reissued a “buy” rating and set a $108.00 target price on shares of FMC Corporation in a research report on Thursday. Royal Bank Of Canada reissued a “buy” rating and set a $93.00 target price on shares of FMC Corporation in a research report on Wednesday, October 11th. Piper Jaffray Companies set a $85.00 target price on shares of FMC Corporation and gave the stock a “hold” rating in a research report on Friday, October 6th. Zacks Investment Research raised shares of FMC Corporation from a “hold” rating to a “strong-buy” rating and set a $103.00 target price for the company in a research report on Tuesday, October 3rd. Finally, Loop Capital assumed coverage on shares of FMC Corporation in a research report on Thursday, September 28th. They set a “buy” rating and a $102.00 target price for the company. One analyst has rated the stock with a sell rating, five have given a hold rating, fifteen have given a buy rating and one has issued a strong buy rating to the company. FMC Corporation has a consensus rating of “Buy” and a consensus target price of $88.24.
Shares of FMC Corporation (NYSE FMC) traded up 1.38% during mid-day trading on Monday, reaching $95.01. The company had a trading volume of 1,107,613 shares. The company’s 50-day moving average is $89.03 and its 200 day moving average is $79.26. The stock has a market capitalization of $12.74 billion, a P/E ratio of 47.98 and a beta of 1.61. FMC Corporation has a 52-week low of $45.91 and a 52-week high of $95.07.
FMC Corporation (NYSE:FMC) last released its quarterly earnings data on Tuesday, August 1st. The basic materials company reported $0.48 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.47 by $0.01. FMC Corporation had a net margin of 1.58% and a return on equity of 16.51%. The business had revenue of $656.80 million during the quarter, compared to analyst estimates of $614.01 million. During the same quarter in the previous year, the business earned $0.46 EPS. FMC Corporation’s quarterly revenue was up 6.7% compared to the same quarter last year. Analysts anticipate that FMC Corporation will post $2.43 EPS for the current fiscal year.
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In related news, VP Andrea E. Utecht sold 14,174 shares of the company’s stock in a transaction dated Tuesday, August 29th. The shares were sold at an average price of $84.00, for a total value of $1,190,616.00. Following the sale, the vice president now owns 131,639 shares of the company’s stock, valued at $11,057,676. The transaction was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. Insiders own 1.10% of the company’s stock.
Hedge funds and other institutional investors have recently bought and sold shares of the stock. Aviance Capital Management LLC bought a new stake in FMC Corporation in the first quarter valued at about $200,000. United Capital Financial Advisers LLC bought a new stake in FMC Corporation in the first quarter valued at about $202,000. Cambridge Trust Co. bought a new stake in FMC Corporation in the first quarter valued at about $480,000. Tower Research Capital LLC TRC increased its stake in FMC Corporation by 70.8% in the first quarter. Tower Research Capital LLC TRC now owns 8,733 shares of the basic materials company’s stock valued at $608,000 after acquiring an additional 3,620 shares during the period. Finally, HighTower Advisors LLC increased its stake in FMC Corporation by 44.5% in the first quarter. HighTower Advisors LLC now owns 12,268 shares of the basic materials company’s stock valued at $854,000 after acquiring an additional 3,778 shares during the period. 90.46% of the stock is currently owned by institutional investors and hedge funds.
About FMC Corporation
FMC Corporation is a diversified chemical company serving agricultural, consumer and industrial markets. The Company operates in three business segments: FMC Agricultural Solutions, FMC Health and Nutrition, and FMC Lithium. As of December 31, 2016, the FMC Agricultural Solutions segment developed, marketed and sold three classes of crop protection chemicals: insecticides, herbicides and fungicides.
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