What Can We Expect From FMC Technologies (NYSE:FTI) After KLR Group’s Latest Coverage?


Why Has KLR Group Given FMC Technologies (NYSE:FTI) a $43.00 Price Target

In a very recent research note shared with investors and clients on Monday, 14 December, KLR Group analyst has today began issuing coverage for FMC Technologies (NYSE:FTI) shares with a “Buy” rating. The target PPS is $43.00.

From a total of 28 analysts covering FMC Technologies (NYSE:FTI) stock, 15 rate it a ”Buy”, 0 a “Sell”, and 18 a ”Hold”. This means that 45% 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 $38.14 with a 25.40% above today’s ($28.98) stock price. FMC Technologies was the topic of 21 analyst reports since July 23, 2015 according to the firm StockzIntelligence Inc. Guggenheim upgraded shares on November 30 to “Buy” rating. Seaport Global Securities upgraded shares to “Buy” rating and $38 target share price in a report from an October 5. Citigroup maintained FTI stock in a recent report from October 5 with “Neutral” rating. National Bank Canada maintained the rating on August 6. National Bank Canada has a “Outperform” rating and a $8.50 price target on shares. Finally, Credit Suisse upgraded the stock to “Neutral” rating in a report issued on a September 4.

Approximately 1.32M shares of stock traded hands. FMC Technologies, Inc. (NYSE:FTI) has declined 30.41% since May 11, 2015 and is downtrending. It has underperformed by 26.00% 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 improved, 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 $6.57 billion. The Company’s divisions include Subsea Technologies, Surface Technologies and Energy Infrastructure. It has 13.39 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.”