In a report issued on November 2, Kevin Roger from Kepler Capital upgraded TechnipFMC (FTI) to Buy, with a price target of EUR8.30. The company’s shares closed last Tuesday at $6.03, close to its 52-week low of $4.49.
According to TipRanks.com, Roger is a 3-star analyst with an average return of 1.3% and a 42.9% success rate. Roger covers the Industrial Goods sector, focusing on stocks such as Shelf Drilling, Borr Drilling, and Kvaerner ASA.
Currently, the analyst consensus on TechnipFMC is a Strong Buy with an average price target of $10.05, a 62.1% upside from current levels. In a report issued on October 26, Societe Generale also upgraded the stock to Buy with a $8.90 price target.
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Based on TechnipFMC’s latest earnings release for the quarter ending September 30, the company reported a quarterly revenue of $3.34 billion and GAAP net loss of $3.9 million. In comparison, last year the company earned revenue of $3.34 billion and had a GAAP net loss of $119 million.
Based on the recent corporate insider activity of 86 insiders, corporate insider sentiment is negative on the stock. This means that over the past quarter there has been an increase of insiders selling their shares of FTI in relation to earlier this year.
TipRanks has tracked 36,000 company insiders and found that a few of them are better than others when it comes to timing their transactions. See which 3 stocks are most likely to make moves following their insider activities.
TechnipFMC Plc is an energy service company, which engages in the provision of solutions for the production and transformation of hydrocarbons. It operates through the following segments: Subsea, Onshore & Offshore, and Surface Technologies. The Subsea segment engages in designing, engineering, procurement, manufacturing, fabrication and installation, and life of field services for subsea systems, subsea field infrastructure, and subsea pipe systems used in oil and gas production and transportation. The Onshore & Offshore segment offers designing and project development services. The Surface Technologies segment designs and manufactures products & systems, and provides services used by oil and gas companies involved in land and offshore exploration and production of crude oil and natural gas. The company was founded on December 9, 2015 and is headquartered in London, the United Kingdom.
