3M Co. [NYSE: MMM] gained 1.34% or 1.78 points to close at $134.69 with a heavy trading volume of 6091676 shares.
The daily chart for MMM points out that the company has recorded 75.37% gains over the past six months.
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If we look at the average trading volume of 4.54M shares, MMM reached to a volume of 6091676 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 3M Co. [MMM]:
Based on careful and fact-backed analyses by Wall Street experts, the current consensus on the target price for MMM shares is $131.14 per share. Analysis on target price and performance of stocks is usually carefully studied by market experts, and the current Wall Street consensus on MMM stock is a recommendation set at 2.37. 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.
Argus have made an estimate for 3M Co. shares, keeping their opinion on the stock as Buy, with their previous recommendation back on July 30, 2024. While these analysts kept the previous recommendation, Deutsche Bank raised their target price from $110 to $150. The new note on the price target was released on July 29, 2024, representing the official price target for 3M Co. stock. Previously, the target price had yet another raise to $125, while Wolfe Research analysts kept a Outperform rating on MMM stock. On June 07, 2024, analysts increased their price target for MMM shares from 105 to 120.
The Average True Range (ATR) for 3M Co. is set at 2.45, with the Price to Sales ratio for MMM stock in the period of the last 12 months amounting to 2.42. The Price to Book ratio for the last quarter was 18.89, with the Price to Cash per share for the same quarter was set at 18.82. Price to Free Cash Flow for MMM in the course of the last twelve months was 17.30 with Quick ratio for the last quarter at 1.08.
Trading performance analysis for MMM stock
3M Co. [MMM] gain into the green zone at the end of the last week, gaining into a positive trend and gaining by 3.17. With this latest performance, MMM shares gained by 6.50% in over the last four-week period, additionally plugging by 75.37% over the last 6 months – not to mention a rise of 54.23% 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 MMM stock in for the last two-week period is set at 78.87, with the RSI for the last a single of trading hit 82.89, and the three-weeks RSI is set at 76.30 for 3M Co. [MMM]. The present Moving Average for the last 50 days of trading for this stock 115.58, while it was recorded at 132.49 for the last single week of trading, and 95.31 for the last 200 days.
3M Co. [MMM]: A deeper dive into fundamental analysis
3M Co.’s liquidity data is similarly interesting compelling, with a Quick Ratio of 1.08 and a Current Ratio set at 1.36.
3M Co. [MMM]: An earnings per share (EPS) analysis
The progress of the company may be observed through the prism of EPS growth rate, while Wall Street analysts are focusing on predicting the 5-year EPS growth rate for MMM. When it comes to the mentioned value, analysts are expecting to see the 5-year EPS growth rate for 3M Co. go to -3.92%.
An analysis of Institutional ownership at 3M Co. [MMM]
There are presently around $66.77%, or 66.85%% of MMM stock, in the hands of institutional investors. The top three institutional holders of MMM stocks are: VANGUARD GROUP INC with ownership of 49.9 million shares, which is approximately 8.9909%. BLACKROCK INC., holding 38.36 million shares of the stock with an approximate value of $$3.92 billion in MMM stocks shares; and BLACKROCK INC., currently with $$2.75 billion in MMM stock with ownership which is approximately 4.8454%.
