Barclays Sticks to Their Buy Rating for TechnipFMC (FTI)

Barclays analyst David Anderson maintained a Buy rating on TechnipFMC today and set a price target of $51.00. The company’s shares closed yesterday at $36.00.

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Anderson covers the Energy sector, focusing on stocks such as Baker Hughes Company, TechnipFMC, and Halliburton. According to TipRanks, Anderson has an average return of 0.7% and a 48.00% success rate on recommended stocks.

The word on The Street in general, suggests a Strong Buy analyst consensus rating for TechnipFMC with a $43.75 average price target, a 21.53% upside from current levels. In a report released on October 10, Exane BNP Paribas also upgraded the stock to a Buy with a $47.00 price target.

Based on TechnipFMC’s latest earnings release for the quarter ending June 30, the company reported a quarterly revenue of $2.53 billion and a net profit of $269.5 million. In comparison, last year the company earned a revenue of $2.33 billion and had a net profit of $186.5 million

Based on the recent corporate insider activity of 61 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. Last month, Doug Pferdehirt, the Chair and CEO of FTI sold 80,304.00 shares for a total of $3,079,658.40.