FMC Technologies Inc. (NYSE:FTI) was upgraded by equities research analysts at Griffin Securities from a “neutral” rating to a “buy” rating in a research note issued on Wednesday. The brokerage presently has a $46.00 price objective on the stock. Griffin Securities’ price objective would indicate a potential upside of 32.53% from the stock’s previous close.

A number of other brokerages have also issued reports on FTI. Jefferies Group set a $33.00 target price on shares of FMC Technologies and gave the company a “hold” rating in a research report on Monday, October 24th. JPMorgan Chase & Co. reiterated a “hold” rating and issued a $31.00 target price on shares of FMC Technologies in a research report on Thursday, November 3rd. Capital One Financial Corp. upgraded shares of FMC Technologies from an “equal weight” rating to an “overweight” rating and set a $36.00 target price for the company in a research report on Thursday, August 25th. Seaport Global Securities lowered shares of FMC Technologies from a “buy” rating to a “neutral” rating and decreased their target price for the company from $29.00 to $28.00 in a research report on Thursday, September 22nd. Finally, Citigroup Inc. increased their target price on shares of FMC Technologies from $29.00 to $31.00 and gave the company a “neutral” rating in a research report on Monday, September 12th. Fifteen investment analysts have rated the stock with a hold rating and twelve have issued a buy rating to the company’s stock. The stock presently has an average rating of “Hold” and a consensus price target of $32.34.

Analyst Recommendations for FMC Technologies (NYSE:FTI)

FMC Technologies (NYSE:FTI) opened at 34.71 on Wednesday. The stock has a 50 day moving average of $32.81 and a 200-day moving average of $28.69. The firm has a market cap of $7.83 billion, a price-to-earnings ratio of 75.13 and a beta of 0.92. FMC Technologies has a 52-week low of $22.30 and a 52-week high of $35.74.

FMC Technologies (NYSE:FTI) last announced its earnings results on Wednesday, October 19th. The company reported $0.35 earnings per share (EPS) for the quarter, beating the Zacks’ consensus estimate of $0.23 by $0.12. The firm earned $1.09 billion during the quarter, compared to analyst estimates of $1.16 billion. FMC Technologies had a net margin of 2.25% and a return on equity of 10.93%. FMC Technologies’s revenue was down 29.4% compared to the same quarter last year. During the same quarter in the prior year, the firm posted $0.61 EPS. On average, analysts expect that FMC Technologies will post $1.06 EPS for the current year.

A number of institutional investors have recently made changes to their positions in FTI. Wellington Management Group LLP increased its stake in shares of FMC Technologies by 4.3% in the first quarter. Wellington Management Group LLP now owns 670,057 shares of the company’s stock valued at $18,333,000 after buying an additional 27,881 shares during the last quarter. Legal & General Group Plc increased its stake in shares of FMC Technologies by 1.8% in the first quarter. Legal & General Group Plc now owns 1,022,765 shares of the company’s stock valued at $27,982,000 after buying an additional 18,166 shares during the last quarter. Envestnet Asset Management Inc. increased its stake in shares of FMC Technologies by 58.4% in the first quarter. Envestnet Asset Management Inc. now owns 105,862 shares of the company’s stock valued at $2,896,000 after buying an additional 39,037 shares during the last quarter. Schonfeld Strategic Advisors LLC bought a new stake in shares of FMC Technologies during the first quarter valued at about $275,000. Finally, Squarepoint Ops LLC increased its stake in shares of FMC Technologies by 35.7% in the first quarter. Squarepoint Ops LLC now owns 40,729 shares of the company’s stock valued at $1,114,000 after buying an additional 10,720 shares during the last quarter. Institutional investors own 88.38% of the company’s stock.

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About FMC Technologies

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.

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