TechnipFMC (NYSE:FTI) Stock Rating Upgraded by UBS Group

TechnipFMC (NYSE:FTI) was upgraded by investment analysts at UBS Group to a “strong-buy” rating in a research note issued to investors on Monday, Zacks reports.

Several other equities research analysts have also recently issued reports on the stock. Zacks Research raised shares of TechnipFMC from a “hold” rating to a “strong-buy” rating in a research report on Monday, October 5th. Wall Street Zen downgraded shares of TechnipFMC from a “buy” rating to a “hold” rating in a research note on Saturday, August 1st. Weiss Ratings lowered TechnipFMC from a “buy (a-)” rating to a “buy (b+)” rating in a report on Friday, October 2nd. Susquehanna dropped their target price on TechnipFMC from $90.00 to $85.00 and set a “positive” rating on the stock in a research report on Wednesday, July 8th. Finally, Citigroup lifted their price target on TechnipFMC from $80.00 to $85.00 and gave the company a “buy” rating in a report on Tuesday, September 15th. Two equities research analysts have rated the stock with a Strong Buy rating, ten have given a Buy rating and two have assigned a Hold rating to the stock. Based on data from MarketBeat, the company currently has an average rating of “Buy” and a consensus target price of $74.92.

TechnipFMC Price Performance

TechnipFMC stock opened at $70.63 on Monday. The firm’s fifty day moving average is $73.91 and its 200 day moving average is $71.86. The company has a quick ratio of 0.85, a current ratio of 1.08 and a debt-to-equity ratio of 0.10. TechnipFMC has a 52-week low of $35.29 and a 52-week high of $80.70. The company has a market cap of $27.70 billion, a price-to-earnings ratio of 24.53, a PEG ratio of 1.12 and a beta of 0.83.

TechnipFMC (NYSE:FTI) last posted its quarterly earnings data on Thursday, July 30th. The oil and gas company reported $0.91 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.80 by $0.11. TechnipFMC had a return on equity of 36.54% and a net margin of 11.28%. The business had revenue of $2.76 billion during the quarter, compared to analyst estimates of $2.67 billion. During the same period last year, the company earned $0.68 EPS. The company’s revenue for the quarter was up 9.0% on a year-over-year basis. Sell-side analysts forecast that TechnipFMC will post 3.20 EPS for the current fiscal year.

Insider Transactions at TechnipFMC

In other news, insider Thierry Conti sold 6,000 shares of TechnipFMC stock in a transaction that occurred on Monday, September 21st. The shares were sold at an average price of $71.85, for a total value of $431,100.00. Following the transaction, the insider owned 85,813 shares of the company’s stock, valued at $6,165,664.05. The trade was a 6.54% decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, Director Eric Mullins acquired 6,365 shares of TechnipFMC stock in a transaction that occurred on Friday, August 14th. The shares were purchased at an average price of $78.55 per share, with a total value of $499,970.75. Following the purchase, the director owned 8,070 shares in the company, valued at $633,898.50. This represents a 373.31% increase in their ownership of the stock. Additional details regarding this purchase are available in the official SEC disclosure. 1.40% of the stock is currently owned by company insiders.

Hedge Funds Weigh In On TechnipFMC

Large investors have recently made changes to their positions in the business. Focus Partners Advisor Solutions LLC purchased a new position in shares of TechnipFMC in the 2nd quarter valued at approximately $3,470,000. Chase Investment Counsel Corp acquired a new stake in TechnipFMC in the 2nd quarter worth approximately $12,397,000. Globeflex Capital L P purchased a new stake in TechnipFMC during the 2nd quarter worth approximately $1,011,000. Proficio Capital Partners LLC purchased a new stake in TechnipFMC during the 2nd quarter worth approximately $1,301,000. Finally, Raiffeisen Bank International AG acquired a new position in TechnipFMC during the 2nd quarter valued at approximately $2,337,000. 96.58% of the stock is owned by institutional investors and hedge funds.

About TechnipFMC

TechnipFMC plc (NYSE: FTI) is an energy technology company that provides products, systems and services for the development and production of oil and natural gas resources. Its operations are organized primarily across Subsea and Surface Technologies, serving offshore and onshore energy projects throughout the world.

The company’s Subsea business designs and supplies integrated solutions for offshore field development, including subsea production systems, subsea controls, flexible pipe, umbilicals, installation services and lifecycle support.