Wall Street Analyst Initiated TechnipFMC plc [FTI]. What else is Wall St. saying

TechnipFMC plc [NYSE: FTI] traded at a high on 01/31/23, posting a 1.91 gain after which it closed the day’ session at $13.89. The company report on January 31, 2023 that TechnipFMC Appoints Robert G. Gwin to its Board of Directors.

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TechnipFMC (NYSE: FTI) (the “Company”) today announced that Robert G. Gwin, former President of Anadarko Petroleum Corporation, has been appointed to its Board of Directors, effective February 1, 2023. The Company also announced that Peter Mellbye will retire from the Board and will not stand for re-election at the Company’s next annual general meeting.

Doug Pferdehirt, Chair and CEO of TechnipFMC, stated: “Since joining the Board in 2013, Peter has been a tremendous leader, partner and contributor. We have greatly benefitted from his leadership during the evolution of our company and wish him well in his retirement.” Mr. Pferdehirt continued, “I am delighted to welcome Bob to the Board. He is a proven board member and global business leader, who has tremendous knowledge of our industry and company. He has spent over 30 years working in numerous areas of finance and operations and brings extensive strategic thinking and financial acumen to our Board. Bob brings a skillset that strengthens our Board of Directors and complements its capabilities.”.

The results of the trading session contributed to over 4734036 shares changing hands. Over the past one week, the price volatility of TechnipFMC plc stands at 3.14% while the volatility over the past one month is 3.67%.

The market cap for FTI stock reached $6.27 billion, with 450.10 million shares outstanding and 440.51 million shares in the current float. Compared to the average trading volume of 6.71M shares, FTI reached a trading volume of 4734036 in the most recent trading day, which is why market watchdogs consider the stock to be active.

What do top market gurus say 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 $14.51 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.

The Benchmark Company have made an estimate for TechnipFMC plc shares, keeping their opinion on the stock as Buy, with their previous recommendation back on January 19, 2023. The new note on the price target was released on October 25, 2022, representing the official price target for TechnipFMC plc stock. Previously, the target price had yet another raise to $13, while Piper Sandler analysts kept a Overweight rating on FTI stock. On October 06, 2022, analysts increased their price target for FTI shares from 9 to 14.

The Average True Range (ATR) for TechnipFMC plc is set at 0.44, with the Price to Sales ratio for FTI stock in the period of the last 12 months amounting to 0.96. The Price to Book ratio for the last quarter was 1.99, with the Price to Cash per share for the same quarter was set at 1.63. Price to Free Cash Flow for FTI in the course of the last twelve months was 54.84 with Quick ratio for the last quarter at 1.00.

How has FTI stock performed recently?

TechnipFMC plc [FTI] gain into the green zone at the end of the last week, gaining into a positive trend and gaining by 5.39. With this latest performance, FTI shares gained by 15.17% in over the last four-week period, additionally plugging by 71.48% over the last 6 months – not to mention a rise of 114.68% 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 68.67, with the RSI for the last a single of trading hit 72.09, and the three-weeks RSI is set at 65.88 for TechnipFMC plc [FTI]. The present Moving Average for the last 50 days of trading for this stock 12.29, while it was recorded at 13.76 for the last single week of trading, and 9.34 for the last 200 days.

TechnipFMC plc [FTI]: Deeper insight into the fundamentals

Operating Margin for any stock indicates how profitable investing would be, and TechnipFMC plc [FTI] shares currently have an operating margin of +1.91 and a Gross Margin at +13.16. TechnipFMC plc’s Net Margin is presently recorded at +1.36.

Return on Equity for this stock inclined to 2.32, with Return on Assets sitting at 0.59.

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

Insider trade positions for TechnipFMC plc [FTI]

There are presently around $5,898 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 53,044,449, which is approximately -18.094% of the company’s market cap and around 1.31% of the total institutional ownership; FMR LLC, holding 45,221,153 shares of the stock with an approximate value of $628.12 million in FTI stocks shares; and PZENA INVESTMENT MANAGEMENT LLC, currently with $366.25 million in FTI stock with ownership of nearly 0.268% of the company’s market capitalization.

Positions in TechnipFMC plc stocks held by institutional investors increased at the end of February and at the time of the February reporting period, where 128 institutional holders increased their position in TechnipFMC plc [NYSE:FTI] by around 68,764,806 shares. Additionally, 130 investors decreased positions by around 63,831,138 shares, while 36 investors held positions by with 292,000,198 shares. The mentioned changes placed institutional holdings at 424,596,142 shares, according to the latest SEC report filing. FTI stock had 46 new institutional investments in for a total of 19,727,545 shares, while 33 institutional investors sold positions of 6,396,040 shares during the same period.


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