Morgan Stanley Reiterates “Buy” Rating for TechnipFMC plc Ordinary Share (FTI)
TechnipFMC plc Ordinary Share (NYSE:FTI)‘s stock had its “buy” rating reaffirmed by investment analysts at Morgan Stanley in a report issued on Wednesday.
A number of other research firms also recently weighed in on FTI. ValuEngine downgraded TechnipFMC plc Ordinary Share from a “buy” rating to a “hold” rating in a research report on Friday, September 1st. HSBC reissued a “reduce” rating and set a $26.00 target price on shares of TechnipFMC plc Ordinary Share in a research note on Wednesday, November 15th. Goldman Sachs Group cut shares of TechnipFMC plc Ordinary Share from a “buy” rating to a “neutral” rating and set a $30.00 price target on the stock. in a report on Monday, November 13th. Barclays set a $28.00 price objective on shares of TechnipFMC plc Ordinary Share and gave the stock a “hold” rating in a report on Thursday, October 26th. Finally, Royal Bank Of Canada set a $45.00 price target on shares of TechnipFMC plc Ordinary Share and gave the company a “buy” rating in a report on Saturday, October 7th. Three equities research analysts have rated the stock with a sell rating, seven have given a hold rating and fourteen have given a buy rating to the stock. TechnipFMC plc Ordinary Share presently has a consensus rating of “Hold” and an average target price of $33.03.
Shares of TechnipFMC plc Ordinary Share (NYSE FTI) traded down $0.67 during midday trading on Wednesday, hitting $28.24. The stock had a trading volume of 3,158,500 shares, compared to its average volume of 4,096,157. TechnipFMC plc Ordinary Share has a twelve month low of $24.53 and a twelve month high of $37.09. The stock has a market capitalization of $13,489.17, a price-to-earnings ratio of 23.13, a price-to-earnings-growth ratio of 0.94 and a beta of 0.90. The company has a debt-to-equity ratio of 0.23, a quick ratio of 1.14 and a current ratio of 1.22.
A number of hedge funds and other institutional investors have recently modified their holdings of the stock. Great West Life Assurance Co. Can boosted its position in TechnipFMC plc Ordinary Share by 70.0% during the third quarter. Great West Life Assurance Co. Can now owns 4,329 shares of the oil and gas company’s stock worth $121,000 after purchasing an additional 1,783 shares during the period. C M Bidwell & Associates Ltd. bought a new position in shares of TechnipFMC plc Ordinary Share in the second quarter valued at approximately $161,000. Macquarie Group Ltd. bought a new position in shares of TechnipFMC plc Ordinary Share in the third quarter valued at approximately $190,000. Bank of Nova Scotia Trust Co. bought a new position in shares of TechnipFMC plc Ordinary Share in the third quarter valued at approximately $192,000. Finally, Conning Inc. boosted its position in shares of TechnipFMC plc Ordinary Share by 2.7% in the second quarter. Conning Inc. now owns 7,665 shares of the oil and gas company’s stock valued at $208,000 after acquiring an additional 200 shares during the period. 65.57% of the stock is currently owned by institutional investors and hedge funds.
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About TechnipFMC plc Ordinary Share
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.
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