FMC (NYSE:FMC) Price Target Raised to $81.00

FMC (NYSE:FMC) had its target price increased by analysts at Royal Bank of Canada from $65.00 to $81.00 in a research report issued to clients and investors on Friday, Benzinga reports. The brokerage currently has an “outperform” rating on the basic materials company’s stock. Royal Bank of Canada’s target price points to a potential upside of 20.25% from the stock’s previous close.

FMC has been the topic of a number of other research reports. Bank of America lowered shares of FMC from a “neutral” rating to an “underperform” rating and decreased their target price for the stock from $60.00 to $57.00 in a research report on Tuesday, January 16th. KeyCorp raised their target price on shares of FMC from $79.00 to $81.00 and gave the stock an “overweight” rating in a research report on Wednesday. Loop Capital raised their target price on shares of FMC from $55.00 to $65.00 and gave the stock a “hold” rating in a research report on Tuesday, March 19th. UBS Group upgraded shares of FMC from a “neutral” rating to a “buy” rating and raised their target price for the stock from $61.00 to $84.00 in a research report on Wednesday, March 20th. Finally, BNP Paribas lowered shares of FMC from an “outperform” rating to a “neutral” rating and set a $56.00 target price on the stock. in a research report on Wednesday, February 7th. One investment analyst has rated the stock with a sell rating, twelve have issued a hold rating and five have issued a buy rating to the company’s stock. According to data from MarketBeat.com, the company currently has a consensus rating of “Hold” and an average price target of $73.06.

FMC Price Performance

Shares of FMC stock traded up $0.34 during trading hours on Friday, hitting $67.36. The company’s stock had a trading volume of 450,628 shares, compared to its average volume of 1,966,611. The business has a fifty day moving average of $61.20 and a 200-day moving average of $57.90. The stock has a market cap of $8.41 billion, a price-to-earnings ratio of 6.35, a P/E/G ratio of 1.99 and a beta of 0.88. FMC has a twelve month low of $49.49 and a twelve month high of $111.95. The company has a current ratio of 1.52, a quick ratio of 1.01 and a debt-to-equity ratio of 0.68.

FMC (NYSE:FMC) last released its quarterly earnings results on Monday, May 6th. The basic materials company reported $0.36 EPS for the quarter, beating the consensus estimate of $0.35 by $0.01. The business had revenue of $918.00 million for the quarter, compared to analyst estimates of $1.01 billion. FMC had a net margin of 29.45% and a return on equity of 12.98%. The company’s quarterly revenue was down 31.7% on a year-over-year basis. During the same period in the prior year, the business earned $1.77 earnings per share. As a group, equities research analysts anticipate that FMC will post 3.88 EPS for the current year.

Insiders Place Their Bets

In related news, CFO Andrew D. Sandifer bought 2,150 shares of the company’s stock in a transaction dated Monday, March 4th. The stock was bought at an average price of $59.22 per share, with a total value of $127,323.00. Following the transaction, the chief financial officer now owns 50,088 shares of the company’s stock, valued at $2,966,211.36. The acquisition was disclosed in a legal filing with the SEC, which is available at this link. 0.81% of the stock is currently owned by company insiders.

Institutional Investors Weigh In On FMC

Institutional investors have recently modified their holdings of the business. Riverview Trust Co acquired a new position in FMC during the 1st quarter valued at about $27,000. CVA Family Office LLC acquired a new position in FMC during the 4th quarter valued at about $31,000. Financial Connections Group Inc. acquired a new position in FMC during the 4th quarter valued at about $31,000. Quintet Private Bank Europe S.A. acquired a new position in FMC during the 3rd quarter valued at about $33,000. Finally, Spire Wealth Management boosted its stake in FMC by 143.1% during the 3rd quarter. Spire Wealth Management now owns 508 shares of the basic materials company’s stock valued at $34,000 after purchasing an additional 299 shares during the period. Institutional investors own 91.86% of the company’s stock.

FMC Company Profile

FMC Corporation, an agricultural sciences company, provides crop protection, plant health, and professional pest and turf management products. It develops, markets, and sells crop protection chemicals that includes insecticides, herbicides, and fungicides; and biologicals, crop nutrition, and seed treatment products, which are used in agriculture to enhance crop yield and quality by controlling a range of insects, weeds, and diseases, as well as in non-agricultural markets for pest control.