TechnipFMC (NYSE:FTI) Downgraded by Bernstein Bank to “Underperform”
TechnipFMC (NYSE:FTI) was downgraded by Bernstein Bank to an “underperform” rating in a note issued to investors on Tuesday, Stock Target Advisor reports.
FTI has been the subject of several other reports. Royal Bank of Canada set a $30.00 target price on shares of TechnipFMC and gave the company a “buy” rating in a research note on Friday, October 25th. Barclays reaffirmed a “hold” rating on shares of TechnipFMC in a report on Wednesday, November 6th. JPMorgan Chase & Co. increased their price target on shares of TechnipFMC from $32.00 to $35.00 and gave the company an “overweight” rating in a report on Wednesday, October 23rd. Wells Fargo & Co set a $30.00 target price on shares of TechnipFMC and gave the stock a “buy” rating in a research report on Friday, October 25th. Finally, Jefferies Financial Group cut shares of TechnipFMC from a “buy” rating to a “hold” rating and lowered their price objective for the company from $33.00 to $21.00 in a research report on Friday, December 6th. Two research analysts have rated the stock with a sell rating, six have issued a hold rating and thirteen have given a buy rating to the company’s stock. The stock presently has an average rating of “Buy” and an average target price of $28.12.
Shares of NYSE:FTI traded down $0.66 during trading on Tuesday, reaching $20.68. The company had a trading volume of 551,611 shares, compared to its average volume of 2,681,547. The firm’s fifty day moving average is $20.25 and its 200 day moving average is $22.90. The firm has a market capitalization of $9.41 billion, a PE ratio of 25.22, a price-to-earnings-growth ratio of 0.94 and a beta of 1.47. TechnipFMC has a twelve month low of $18.42 and a twelve month high of $28.57. The company has a debt-to-equity ratio of 0.43, a quick ratio of 1.02 and a current ratio of 1.17.
In related news, Director Olivier Piou purchased 3,000 shares of the business’s stock in a transaction on Friday, November 22nd. The shares were purchased at an average price of $19.49 per share, with a total value of $58,470.00. Following the completion of the purchase, the director now owns 3,000 shares in the company, valued at approximately $58,470. The acquisition was disclosed in a legal filing with the SEC, which is accessible through this link. Also, CFO Maryann T. Mannen sold 14,500 shares of TechnipFMC stock in a transaction that occurred on Monday, December 23rd. The shares were sold at an average price of $20.84, for a total transaction of $302,180.00. The disclosure for this sale can be found here. Insiders own 0.50% of the company’s stock.
Several hedge funds and other institutional investors have recently bought and sold shares of the company. Signaturefd LLC raised its holdings in shares of TechnipFMC by 22.1% in the third quarter. Signaturefd LLC now owns 2,650 shares of the oil and gas company’s stock valued at $64,000 after purchasing an additional 480 shares during the last quarter. Brinker Capital Inc. increased its stake in TechnipFMC by 6.2% in the 3rd quarter. Brinker Capital Inc. now owns 13,987 shares of the oil and gas company’s stock worth $338,000 after purchasing an additional 813 shares during the period. First Mercantile Trust Co. increased its stake in TechnipFMC by 13.4% in the 3rd quarter. First Mercantile Trust Co. now owns 6,998 shares of the oil and gas company’s stock worth $169,000 after purchasing an additional 825 shares during the period. Private Capital Group LLC increased its stake in TechnipFMC by 375.0% in the 2nd quarter. Private Capital Group LLC now owns 1,121 shares of the oil and gas company’s stock worth $36,000 after purchasing an additional 885 shares during the period. Finally, Crossmark Global Holdings Inc. increased its stake in TechnipFMC by 1.1% in the 3rd quarter. Crossmark Global Holdings Inc. now owns 92,346 shares of the oil and gas company’s stock worth $2,229,000 after purchasing an additional 1,000 shares during the period. Institutional investors own 79.86% of the company’s stock.
TechnipFMC plc engages in the oil and gas projects, technologies, and systems and services businesses. It operates through three segments: Subsea, Onshore/Offshore, and Surface Technologies. The Subsea segment manufactures and designs products and systems; performs engineering, procurement, and project management; and provides services used by oil and gas companies involved in deepwater exploration and production of crude oil and natural gas.
Further Reading: Cash Flow
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