3M (NYSE:MMM) Price Target Cut to $161.00 by Analysts at Barclays

3M (NYSE:MMM) had its price target cut by analysts at Barclays from $165.00 to $161.00 in a note issued to investors on Wednesday,Benzinga reports. The brokerage presently has an “overweight” rating on the conglomerate’s stock. Barclays‘s price target points to a potential upside of 21.43% from the company’s previous close.

MMM has been the topic of a number of other research reports. UBS Group raised 3M from a “neutral” rating to a “buy” rating and upped their target price for the company from $130.00 to $184.00 in a research note on Wednesday, November 13th. Royal Bank of Canada reduced their price objective on 3M from $100.00 to $96.00 and set an “underperform” rating on the stock in a research report on Friday, January 3rd. Melius upgraded 3M from a “hold” rating to a “buy” rating in a research report on Tuesday, October 22nd. JPMorgan Chase & Co. upped their target price on shares of 3M from $160.00 to $165.00 and gave the company an “overweight” rating in a report on Monday, October 28th. Finally, Wells Fargo & Company lifted their price target on shares of 3M from $130.00 to $140.00 and gave the stock an “equal weight” rating in a report on Monday, October 7th. Two analysts have rated the stock with a sell rating, four have issued a hold rating and eleven have issued a buy rating to the company’s stock. According to data from MarketBeat, 3M currently has a consensus rating of “Moderate Buy” and a consensus target price of $144.33.

3M Stock Up 1.8 %

3M stock opened at $132.59 on Wednesday. 3M has a fifty-two week low of $75.40 and a fifty-two week high of $141.34. The firm has a market capitalization of $72.20 billion, a price-to-earnings ratio of 16.74, a price-to-earnings-growth ratio of 2.15 and a beta of 0.95. The stock’s fifty day moving average is $130.18 and its two-hundred day moving average is $126.00. The company has a debt-to-equity ratio of 2.41, a quick ratio of 1.08 and a current ratio of 1.43.

3M (NYSE:MMM) last issued its quarterly earnings data on Tuesday, October 22nd. The conglomerate reported $1.98 EPS for the quarter, beating analysts’ consensus estimates of $1.93 by $0.05. The firm had revenue of $6.29 billion for the quarter, compared to analysts’ expectations of $6.06 billion. 3M had a net margin of 15.37% and a return on equity of 104.66%. The firm’s revenue was down 24.3% on a year-over-year basis. During the same period in the prior year, the company earned $2.68 EPS. Analysts predict that 3M will post 7.27 EPS for the current fiscal year.

Institutional Investors Weigh In On 3M

Institutional investors have recently added to or reduced their stakes in the company. FSA Wealth Management LLC acquired a new position in shares of 3M in the 3rd quarter valued at about $27,000. McClarren Financial Advisors Inc. raised its holdings in 3M by 118.6% in the third quarter. McClarren Financial Advisors Inc. now owns 223 shares of the conglomerate’s stock valued at $30,000 after buying an additional 121 shares during the period. Meeder Asset Management Inc. lifted its position in 3M by 689.7% during the second quarter. Meeder Asset Management Inc. now owns 308 shares of the conglomerate’s stock valued at $31,000 after buying an additional 269 shares in the last quarter. True Wealth Design LLC grew its stake in 3M by 2,466.7% during the third quarter. True Wealth Design LLC now owns 308 shares of the conglomerate’s stock worth $42,000 after buying an additional 296 shares during the period. Finally, Northwest Investment Counselors LLC acquired a new stake in shares of 3M in the third quarter worth $57,000. Hedge funds and other institutional investors own 65.25% of the company’s stock.

About 3M

3M Company provides diversified technology services in the United States and internationally. The company’s Safety and Industrial segment offers industrial abrasives and finishing for metalworking applications; autobody repair solutions; closure systems for personal hygiene products, masking, and packaging materials; electrical products and materials for construction and maintenance, power distribution, and electrical original equipment manufacturers; structural adhesives and tapes; respiratory, hearing, eye, and fall protection solutions; and natural and color-coated mineral granules for shingles.