BofA Securities lifts TechnipFMC plc [FTI] price estimate. Who else is bullish?

TechnipFMC plc [NYSE: FTI] loss -2.60% on the last trading session, reaching $8.25 price per share at the time. The company report on August 1, 2022 that TechnipFMC Awarded Significant Contract for Gas to Energy Project in Guyana.

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TechnipFMC (NYSE: FTI) has been awarded a significant(1) contract by ExxonMobil affiliate, Esso Exploration and Production Guyana Limited, for the Gas to Energy Project in Guyana.

Subject to final project sanction, TechnipFMC will provide engineering, procurement, construction and installation of subsea risers and pipelines. The project will connect the production from Liza Destiny and Unity back to shore, delivering associated gas from the field to a gas-fired power plant that will supply electricity to the community.

TechnipFMC plc represents 452.20 million in outstanding shares, while the company has a total market value of $3.75 billion with the latest information. FTI stock price has been found in the range of $8.03 to $8.33.

If compared to the average trading volume of 8.44M shares, FTI reached a trading volume of 8763635 in the most recent trading day, which is why market watchdogs consider the stock to be active.

Here is what top equities market gurus are saying about TechnipFMC plc [FTI]:

Based on careful and fact-backed analyses by Wall Street experts, the current consensus on the target price for FTI shares is $10.88 per share. Analysis on target price and performance of stocks is usually carefully studied by market experts, and the current Wall Street consensus on FTI stock is a recommendation set at 2.30. This rating represents a strong Buy recommendation, on the scale from 1 to 5, where 5 would mean strong sell, 4 represents Sell, 3 is Hold, and 2 indicates Buy.

BofA Securities have made an estimate for TechnipFMC plc shares, keeping their opinion on the stock as Buy, with their previous recommendation back on July 15, 2022. While these analysts kept the previous recommendation, Societe Generale dropped their target price from $7.57 to $10. The new note on the price target was released on April 19, 2022, representing the official price target for TechnipFMC plc stock. Previously, the target price had yet another raise to $58, while BofA Securities analysts kept a Neutral rating on FTI stock.

The Average True Range (ATR) for TechnipFMC plc is set at 0.36, with the Price to Sales ratio for FTI stock in the period of the last 12 months amounting to 0.59. The Price to Book ratio for the last quarter was 1.12, with the Price to Cash per share for the same quarter was set at 1.56. Price to Free Cash Flow for FTI in the course of the last twelve months was 171.16 with Quick ratio for the last quarter at 1.00.

Trading performance analysis for FTI stock

TechnipFMC plc [FTI] fell into the red zone at the end of the last week, falling into a negative trend and dropping by -5.06. With this latest performance, FTI shares gained by 32.64% in over the last four-week period, additionally plugging by 27.51% over the last 6 months – not to mention a rise of 33.28% in the past year of trading.

Overbought and oversold stocks can be easily traced with the Relative Strength Index (RSI), where an RSI result of over 70 would be overbought, and any rate below 30 would indicate oversold conditions. An RSI rate of 50 would represent a neutral market momentum. The current RSI for FTI stock in for the last two-week period is set at 56.59, with the RSI for the last a single of trading hit 52.35, and the three-weeks RSI is set at 56.82 for TechnipFMC plc [FTI]. The present Moving Average for the last 50 days of trading for this stock 7.16, while it was recorded at 8.41 for the last single week of trading, and 7.11 for the last 200 days.

TechnipFMC plc [FTI]: A deeper dive into fundamental analysis

TechnipFMC plc’s liquidity data is similarly interesting compelling, with a Quick Ratio of 1.00 and a Current Ratio set at 1.30.

An analysis of insider ownership at TechnipFMC plc [FTI]

There are presently around $3,512 million, in the hands of institutional investors. The top three institutional holders of FTI stocks are: PRICE T ROWE ASSOCIATES INC /MD/ with ownership of 64,762,957, which is approximately 7.1% of the company’s market cap and around 1.20% of the total institutional ownership; FMR LLC, holding 45,221,055 shares of the stock with an approximate value of $373.07 million in FTI stocks shares; and PZENA INVESTMENT MANAGEMENT LLC, currently with $216.95 million in FTI stock with ownership of nearly -3.622% of the company’s market capitalization.

Positions in TechnipFMC plc stocks held by institutional investors increased at the end of July and at the time of the July reporting period, where 112 institutional holders increased their position in TechnipFMC plc [NYSE:FTI] by around 67,246,950 shares. Additionally, 161 investors decreased positions by around 57,830,726 shares, while 35 investors held positions by with 300,578,882 shares. The mentioned changes placed institutional holdings at 425,656,558 shares, according to the latest SEC report filing. FTI stock had 29 new institutional investments in for a total of 26,769,863 shares, while 59 institutional investors sold positions of 13,138,712 shares during the same period.


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