Citigroup Upgrades TechnipFMC (NYSE:FTI) to “Buy” – MarketBeat

TechnipFMC (NYSE:FTI – Get Rating) was upgraded by equities researchers at Citigroup from a “neutral” rating to a “buy” rating in a report issued on Friday, The Fly reports.

→ Urgent Warning (From Weiss Ratings)

Other analysts also recently issued research reports about the stock. HSBC raised shares of TechnipFMC from a “hold” rating to a “buy” rating and set a $13.50 price objective for the company in a research report on Tuesday, October 25th. Benchmark began coverage on TechnipFMC in a report on Thursday, January 19th. They issued a “buy” rating and a $15.00 target price on the stock. Finally, Piper Sandler increased their target price on TechnipFMC from $13.00 to $17.00 and gave the stock an “overweight” rating in a report on Friday, November 18th. One research analyst has rated the stock with a hold rating and twelve have issued a buy rating to the company. According to MarketBeat, the stock currently has a consensus rating of “Moderate Buy” and an average target price of $12.95.

TechnipFMC Stock Performance

Shares of FTI stock opened at $14.01 on Friday. The company has a market cap of $6.25 billion, a price-to-earnings ratio of -28.02 and a beta of 1.79. TechnipFMC has a 52 week low of $5.47 and a 52 week high of $14.33. The company has a quick ratio of 1.00, a current ratio of 1.27 and a debt-to-equity ratio of 0.36. The firm has a 50 day moving average of $12.70 and a 200-day moving average of $10.84.

Institutional Investors Weigh In On TechnipFMC

A number of hedge funds have recently made changes to their positions in FTI. Signaturefd LLC increased its holdings in TechnipFMC by 88.5% in the 4th quarter. Signaturefd LLC now owns 2,964 shares of the oil and gas company’s stock worth $36,000 after acquiring an additional 1,392 shares during the last quarter. JFS Wealth Advisors LLC increased its holdings in TechnipFMC by 773.8% in the 2nd quarter. JFS Wealth Advisors LLC now owns 3,836 shares of the oil and gas company’s stock worth $26,000 after acquiring an additional 3,397 shares during the last quarter. Wipfli Financial Advisors LLC purchased a new stake in TechnipFMC in the 3rd quarter worth about $37,000. Stephens Inc. AR purchased a new stake in TechnipFMC in the 4th quarter worth about $54,000. Finally, Allworth Financial LP increased its holdings in TechnipFMC by 35.7% in the 3rd quarter. Allworth Financial LP now owns 4,987 shares of the oil and gas company’s stock worth $42,000 after acquiring an additional 1,313 shares during the last quarter. 94.52% of the stock is currently owned by institutional investors.

About TechnipFMC

(Get Rating)

TechnipFMC plc is an energy service company, which engages in the provision of solutions for the production and transformation of hydrocarbons. It operates through the following segments: Subsea and Surface Technologies. The Subsea segment engages in designs and manufactures products and systems, performs engineering, procurement and project management, and provides services used by oil and gas companies involved in offshore exploration and production of crude oil and natural gas.

See Also

This instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest and most accurate reporting. This story was reviewed by MarketBeat’s editorial team prior to publication. Please send any questions or comments about this story to contact@marketbeat.com.

Before you consider TechnipFMC, you’ll want to hear this.

MarketBeat keeps track of Wall Street’s top-rated and best performing research analysts and the stocks they recommend to their clients on a daily basis. MarketBeat has identified the five stocks that top analysts are quietly whispering to their clients to buy now before the broader market catches on… and TechnipFMC wasn’t on the list.

While TechnipFMC currently has a “Buy” rating among analysts, top-rated analysts believe these five stocks are better buys.

View The Five Stocks Here

Source: marketbeat.com