Credit Suisse Group Analysts Give FMC (FMC) a $111.00 Price Target
FMC (NYSE:FMC) has been given a $111.00 target price by analysts at Credit Suisse Group in a research report issued to clients and investors on Tuesday. The firm currently has a “buy” rating on the basic materials company’s stock. Credit Suisse Group’s target price would indicate a potential upside of 13.40% from the stock’s previous close.
A number of other equities analysts have also recently issued reports on the company. Zacks Investment Research upgraded FMC from a “hold” rating to a “buy” rating and set a $101.00 target price for the company in a report on Monday, December 18th. Bank of America increased their target price on FMC from $103.00 to $105.00 and gave the stock a “buy” rating in a report on Wednesday, November 8th. Goldman Sachs Group initiated coverage on FMC in a report on Monday, December 4th. They set a “neutral” rating and a $98.00 target price for the company. KeyCorp restated a “buy” rating and issued a $98.00 price objective on shares of FMC in a report on Wednesday, October 4th. Finally, Jefferies Group restated a “buy” rating and issued a $108.00 price objective on shares of FMC in a report on Thursday, October 12th. Eight research analysts have rated the stock with a hold rating and fourteen have given a buy rating to the stock. The stock presently has a consensus rating of “Buy” and a consensus target price of $95.25.
FMC (NYSE:FMC) remained flat at $$97.88 during mid-day trading on Tuesday. The stock had a trading volume of 679,400 shares, compared to its average volume of 913,033. The stock has a market cap of $12,870.00, a P/E ratio of 67.04, a PEG ratio of 1.63 and a beta of 1.61. The company has a debt-to-equity ratio of 0.70, a quick ratio of 1.81 and a current ratio of 2.19. FMC has a 12-month low of $56.53 and a 12-month high of $98.70.
In related news, insider Nicholas Pfeiffer sold 375 shares of the firm’s stock in a transaction dated Tuesday, December 12th. The shares were sold at an average price of $90.33, for a total value of $33,873.75. Following the completion of the sale, the insider now directly owns 6,856 shares in the company, valued at approximately $619,302.48. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. Company insiders own 1.10% of the company’s stock.
Hedge funds have recently modified their holdings of the business. Virginia Retirement Systems ET AL acquired a new stake in FMC during the third quarter worth approximately $831,000. Nordea Investment Management AB increased its holdings in shares of FMC by 99.7% during the third quarter. Nordea Investment Management AB now owns 8,042 shares of the basic materials company’s stock worth $718,000 after purchasing an additional 4,015 shares during the period. JPMorgan Chase & Co. increased its holdings in shares of FMC by 134.4% during the third quarter. JPMorgan Chase & Co. now owns 288,014 shares of the basic materials company’s stock worth $25,334,000 after purchasing an additional 165,136 shares during the period. Oakbrook Investments LLC increased its holdings in shares of FMC by 27.9% during the third quarter. Oakbrook Investments LLC now owns 13,290 shares of the basic materials company’s stock worth $1,187,000 after purchasing an additional 2,900 shares during the period. Finally, Schroder Investment Management Group increased its holdings in shares of FMC by 692.7% during the second quarter. Schroder Investment Management Group now owns 32,500 shares of the basic materials company’s stock worth $2,384,000 after purchasing an additional 28,400 shares during the period. Hedge funds and other institutional investors own 89.30% of the company’s stock.
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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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