FMC Technologies, Inc. (NYSE:FTI) Downgraded by BidaskClub to Strong Sell

BidaskClub lowered shares of FMC Technologies, Inc. (NYSE:FTI) from a sell rating to a strong sell rating in a research note published on Tuesday, August 8th.

Several other analysts also recently weighed in on FTI. Barclays PLC set a $33.00 target price on FMC Technologies and gave the stock a hold rating in a research report on Saturday, May 6th. UBS AG restated a buy rating and issued a $36.00 price objective (down from $40.00) on shares of FMC Technologies in a report on Monday, July 31st. Seaport Global Securities restated a neutral rating on shares of FMC Technologies in a report on Thursday, July 27th. Scotiabank set a $36.00 price objective on FMC Technologies and gave the company a buy rating in a report on Thursday, July 27th. Finally, ValuEngine upgraded shares of FMC Technologies from a hold rating to a buy rating in a report on Saturday, July 8th. Two investment analysts have rated the stock with a sell rating, six have issued a hold rating and twelve have issued a buy rating to the stock. The company currently has an average rating of Buy and a consensus target price of $35.29.

Shares of FMC Technologies (FTI) traded up 0.70% on Tuesday, reaching $25.75. 2,368,358 shares of the company’s stock traded hands. The firm has a market cap of $12.03 billion, a P/E ratio of 31.14 and a beta of 0.92. The stock has a 50-day moving average of $27.44 and a 200 day moving average of $30.19. FMC Technologies has a 12-month low of $25.45 and a 12-month high of $37.09.

FMC Technologies (NYSE:FTI) last released its earnings results on Wednesday, July 26th. The oil and gas company reported $0.45 earnings per share for the quarter, topping the consensus estimate of $0.37 by $0.08. The business had revenue of $3.85 billion for the quarter, compared to the consensus estimate of $3.80 billion. On average, equities research analysts expect that FMC Technologies will post $1.06 earnings per share for the current year.

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FMC Technologies declared that its Board of Directors has authorized a stock buyback program on Wednesday, April 26th that allows the company to buyback $500.00 million in shares. This buyback authorization allows the oil and gas company to repurchase up to 135% of its shares through open market purchases. Shares buyback programs are generally an indication that the company’s board of directors believes its stock is undervalued.

In related news, EVP Bradley D. Beitler sold 12,000 shares of the stock in a transaction on Monday, May 22nd. The stock was sold at an average price of $32.00, for a total value of $384,000.00. Following the completion of the transaction, the executive vice president now directly owns 87,886 shares of the company’s stock, valued at approximately $2,812,352. The transaction was disclosed in a filing with the SEC, which can be accessed through the SEC website. Also, CFO Maryann T. Mannen sold 6,500 shares of the stock in a transaction on Monday, June 5th. The shares were sold at an average price of $29.20, for a total value of $189,800.00. Following the completion of the transaction, the chief financial officer now directly owns 309,261 shares of the company’s stock, valued at $9,030,421.20. The disclosure for this sale can be found here. Corporate insiders own 0.86% of the company’s stock.

Hedge funds and other institutional investors have recently bought and sold shares of the stock. C M Bidwell & Associates Ltd. purchased a new position in FMC Technologies during the second quarter valued at approximately $161,000. Perigon Wealth Management LLC increased its position in FMC Technologies by 19.7% in the first quarter. Perigon Wealth Management LLC now owns 5,017 shares of the oil and gas company’s stock valued at $163,000 after buying an additional 826 shares in the last quarter. Oppenheimer Asset Management Inc. purchased a new position in FMC Technologies during the first quarter valued at approximately $165,000. MAVEN SECURITIES Ltd purchased a new position in FMC Technologies during the first quarter valued at approximately $174,000. Finally, Macquarie Group Ltd. increased its position in FMC Technologies by 8.3% in the fourth quarter. Macquarie Group Ltd. now owns 5,200 shares of the oil and gas company’s stock valued at $185,000 after buying an additional 400 shares in the last quarter. 65.57% of the stock is owned by hedge funds and other institutional investors.

FMC Technologies Company Profile

FMC Technologies, Inc is a global provider of technology solutions for the energy industry. The Company designs, manufactures and services a range of systems and products, including subsea production and processing systems, surface wellhead production systems, high pressure fluid control equipment, measurement solutions and marine loading systems.

Analyst Recommendations for FMC Technologies (NYSE:FTI)

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