Analysis: FMC Technologies (NYSE:FTI) Upside Target Change Today
In a note disseminated by RBC Capital Markets on Friday, 18 December, the firm, FMC Technologies (NYSE:FTI), had their TP lowered to $33.00. Analusts presently have a solid “Sector Perform” rating on the stock.
From a total of 29 analysts covering FMC Technologies (NYSE:FTI) stock, 0 rate it a ”Buy”, 0 a “Sell”, and 0 a ”Hold”. This means that NaN of the ratings are positive. The highest target price is $50 while the lowest target price is $29. The mean of all analyst targets is $38.31 with a 29.59% above today’s ($28.35) stock price. FMC Technologies was the topic of 22 analyst reports since July 23, 2015 according to the firm StockzIntelligence Inc. KLR Group initiated shares on December 14 with “Buy” rating. Seaport Global Securities upgraded shares to “Buy” rating and $38 target share price in a report from an October 5. Seaport Global Securities downgraded FTI stock in a recent report from October 26 to “Accumulate” rating. Credit Suisse upgraded the rating on September 4. Credit Suisse has a “Neutral” rating and a $29 price target on shares. Finally, Macquarie Research maintained the stock with “Neutral” rating in a report issued on a September 9.
The stock decreased 2.38% or $0.69 during the last trading session, striking $28.35. Approximately 4.41M shares of stock traded hands or 77.11% up from the average. FMC Technologies, Inc. (NYSE:FTI) has declined 30.02% since May 15, 2015 and is downtrending. It has underperformed by 26.22% the S&P500.
The overall sentiment of institutions has increased to 1.04 in Q2 2015. Its up 0.17, from 0.87 in 2015Q2. The ratio increased, as 59 institutions have sold all the shares of FMC Technologies, Inc. that they owned while 133 funds have taken shares off the table. 41 funds have purchased shares for the first time while 159 added to their positions. These institutions now hold 222.54 million shares or 4.40% more than the 213.15 million shares they owned in 2015Q2.
The Fund Arosa Capital Management Lp currently is holding shares equating to 8.31% of its total portfolio in FMC Technologies, Inc. representing a total of 1.85 million shares. Another fund,Energy Opportunities Capital Management Llc, is holding a total of 328,912 shares equating to 3.34% of their holdings. Additionally, Fairpointe Capital Llc has a 6.08 million share stake in FMC Technologies, Inc. which represents 3.21% of their total portfolio. The Fund, Viking Fund Management Llc, based out of North Dakota, has also built up a stake in the stock, which represents a total of 2.34% of their total portfolio. Finally Sands Capital Management Llc, a fund which is based in the state of Virginia reported a total holdings of 17.58 million shares.
FMC Technologies, Inc. is a provider of technology solutions for the energy industry. The company has a market cap of $6.59 billion. The Company’s divisions include Subsea Technologies, Surface Technologies and Energy Infrastructure. It has 13.1 P/E ratio. Subsea Technologies creates and makes products and systems and provides services used by gas and oil companies involved in deepwater exploration and production of natural gas and crude oil.
According to Zacks Investment Research, “FMC Technologies, Inc. designs, manufactures and services technologically sophisticated systems and products for customers through their Energy Production Systems, Energy Processing Systems, FoodTech and Airport Systems segments.”