Zacks Research Upgrades TechnipFMC (NYSE:FTI) to “Strong-Buy”

TechnipFMC (NYSE:FTI) was upgraded by analysts at Zacks Research from a “hold” rating to a “strong-buy” rating in a note issued to investors on Monday, Zacks reports.

Several other equities research analysts have also commented on FTI. Wall Street Zen lowered shares of TechnipFMC from a “buy” rating to a “hold” rating in a research note on Saturday, August 1st. Weiss Ratings downgraded TechnipFMC from a “buy (a-)” rating to a “buy (b+)” rating in a research report on Friday. Susquehanna dropped their price target on TechnipFMC from $90.00 to $85.00 and set a “positive” rating on the stock in a report on Wednesday, July 8th. Finally, Citigroup upped their price objective on TechnipFMC from $80.00 to $85.00 and gave the company a “buy” rating in a research note on Tuesday, September 15th. One investment analyst has rated the stock with a Strong Buy rating, twelve have given a Buy rating and two have given a Hold rating to the company’s stock. Based on data from MarketBeat.com, the company presently has a consensus rating of “Moderate Buy” and a consensus target price of $72.08.

TechnipFMC Price Performance

Shares of NYSE FTI opened at $70.08 on Monday. The company has a debt-to-equity ratio of 0.10, a quick ratio of 0.85 and a current ratio of 1.08. The firm’s 50-day simple moving average is $73.99 and its 200 day simple moving average is $71.81. The stock has a market cap of $27.48 billion, a price-to-earnings ratio of 24.33, a PEG ratio of 1.13 and a beta of 0.83. TechnipFMC has a fifty-two week low of $35.29 and a fifty-two week high of $80.70.

TechnipFMC (NYSE:FTI) last issued its quarterly earnings data on Thursday, July 30th. The oil and gas company reported $0.91 earnings per share for the quarter, beating the consensus estimate of $0.80 by $0.11. TechnipFMC had a return on equity of 36.54% and a net margin of 11.28%.The business had revenue of $2.76 billion for the quarter, compared to analysts’ expectations of $2.67 billion. During the same period last year, the business earned $0.68 EPS. The business’s revenue was up 9.0% on a year-over-year basis. As a group, research analysts anticipate that TechnipFMC will post 3.2 earnings per share for the current fiscal year.

Insider Activity

In other TechnipFMC news, insider Thierry Conti sold 6,000 shares of the company’s stock in a transaction dated Monday, September 21st. The shares were sold at an average price of $71.85, for a total transaction of $431,100.00. Following the sale, the insider directly owned 85,813 shares of the company’s stock, valued at $6,165,664.05. This represents a 6.54% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, Director Eric Mullins purchased 6,365 shares of the stock in a transaction dated Friday, August 14th. The stock was acquired at an average cost of $78.55 per share, for a total transaction of $499,970.75. Following the transaction, the director owned 8,070 shares of the company’s stock, valued at approximately $633,898.50. This trade represents a 373.31% increase in their ownership of the stock. The SEC filing for this purchase provides additional information. Company insiders own 1.40% of the company’s stock.

Institutional Trading of TechnipFMC

Several institutional investors and hedge funds have recently bought and sold shares of the company. BlackRock Inc. bought a new position in shares of TechnipFMC in the second quarter worth approximately $3,081,514,000. Bank of America Corp DE purchased a new stake in shares of TechnipFMC during the 2nd quarter valued at $226,069,000. Bank of New York Mellon Corp bought a new stake in shares of TechnipFMC during the 2nd quarter worth $173,262,000. Danske Bank A S purchased a new position in TechnipFMC in the second quarter worth $163,822,000. Finally, Legal & General Group Plc purchased a new position in TechnipFMC in the second quarter worth $149,673,000. 96.58% of the stock is currently owned by hedge funds and other institutional investors.

About TechnipFMC

TechnipFMC plc (NYSE: FTI) is an energy technology company that provides products, systems and services for the development and production of oil and natural gas resources. Its operations are organized primarily across Subsea and Surface Technologies, serving offshore and onshore energy projects throughout the world.

The company’s Subsea business designs and supplies integrated solutions for offshore field development, including subsea production systems, subsea controls, flexible pipe, umbilicals, installation services and lifecycle support.