FTI Consulting Inc. (FCN) Stock Rating Lowered by Zacks Investment Research
FTI Consulting Inc. (NYSE:FCN) was downgraded by Zacks Investment Research from a “hold” rating to a “sell” rating in a note issued to investors on Wednesday.
According to Zacks, “FTI Consulting is highly exposed to foreign exchange rate risks and pricing pressure due to the Brexit referendum, undermining its growth prospects to some extent. The company is likely to be stifled by the higher tariff and non-tariff barriers to trade between the U.K. and the European Union, lowering its productivity. Clients’ spending patterns also remain cautious, given the concerns over the current market environment, volatile financial markets and a lack of visibility regarding the impact of future tax and regulatory policies. The company has a positive earnings history in the trailing four quarters, beating estimates thrice. Earnings estimates have also remained steady in the last week. The company has planned significant investments to expand its Technology business, which are likely to boost its earnings going forward. Acquisitions in high-growth segments and strategic hires could also turn the company’s fortunes.”
Separately, Deutsche Bank AG initiated coverage on shares of FTI Consulting in a research report on Wednesday, August 17th. They set a “hold” rating and a $44.00 price objective for the company.
Shares of FTI Consulting (NYSE:FCN) opened at 44.22 on Wednesday. FTI Consulting has a 12 month low of $29.91 and a 12 month high of $45.98. The stock has a 50 day moving average of $43.39 and a 200 day moving average of $40.37. The stock has a market cap of $1.81 billion, a PE ratio of 23.81 and a beta of 0.26.
In related news, insider Holly Paul sold 598 shares of the firm’s stock in a transaction dated Friday, September 9th. The shares were sold at an average price of $43.42, for a total transaction of $25,965.16. Following the completion of the sale, the insider now directly owns 5,449 shares in the company, valued at $236,595.58. The transaction was disclosed in a document filed with the SEC, which is available through the SEC website. Corporate insiders own 1.03% of the company’s stock.
A number of large investors have recently added to or reduced their stakes in FCN. Dimensional Fund Advisors LP boosted its stake in shares of FTI Consulting by 0.6% in the second quarter. Dimensional Fund Advisors LP now owns 3,522,297 shares of the company’s stock worth $143,284,000 after buying an additional 19,723 shares in the last quarter. Wellington Management Group LLP boosted its stake in shares of FTI Consulting by 20.6% in the first quarter. Wellington Management Group LLP now owns 3,057,908 shares of the company’s stock worth $108,585,000 after buying an additional 521,317 shares in the last quarter. Vanguard Group Inc. boosted its stake in shares of FTI Consulting by 3.9% in the second quarter. Vanguard Group Inc. now owns 2,997,430 shares of the company’s stock worth $121,936,000 after buying an additional 113,777 shares in the last quarter. BlackRock Fund Advisors boosted its stake in shares of FTI Consulting by 2.8% in the second quarter. BlackRock Fund Advisors now owns 2,039,670 shares of the company’s stock worth $82,974,000 after buying an additional 55,968 shares in the last quarter. Finally, State Street Corp boosted its stake in shares of FTI Consulting by 1.0% in the first quarter. State Street Corp now owns 1,258,846 shares of the company’s stock worth $44,705,000 after buying an additional 11,972 shares in the last quarter. Hedge funds and other institutional investors own 93.54% of the company’s stock.
About FTI Consulting
FTI Consulting, Inc (FTI Consulting) is a business advisory firm. The Company operates through five segments: Corporate Finance & Restructuring, Forensic and Litigation Consulting, Economic Consulting, Technology and Strategic Communications. Its Corporate Finance & Restructuring segment focuses on strategic, operational, financial and capital needs of businesses around the world.
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