FMC (NYSE:FMC) Stock Rating Lowered by Bank of America

FMC (NYSE:FMCGet Free Report) was downgraded by Bank of America from a “neutral” rating to an “underperform” rating in a note issued to investors on Tuesday, MarketBeat.com reports. They presently have a $57.00 target price on the basic materials company’s stock, down from their previous target price of $60.00. Bank of America‘s target price would suggest a potential upside of 2.78% from the stock’s current price.

Several other equities analysts have also recently issued reports on the company. Wells Fargo & Company decreased their price target on FMC from $99.00 to $73.00 and set an “equal weight” rating on the stock in a report on Monday, October 23rd. Vertical Research raised FMC from a “hold” rating to a “buy” rating and set a $94.00 target price on the stock in a research note on Monday, October 16th. Morgan Stanley reissued an “equal weight” rating and issued a $70.00 target price (down previously from $100.00) on shares of FMC in a research note on Tuesday, October 24th. StockNews.com raised FMC from a “sell” rating to a “hold” rating in a research note on Wednesday, November 1st. Finally, Redburn Atlantic reissued a “neutral” rating and issued a $71.00 target price on shares of FMC in a research note on Monday, September 25th. One research analyst has rated the stock with a sell rating, ten have assigned a hold rating and six have issued a buy rating to the stock. According to MarketBeat, FMC currently has a consensus rating of “Hold” and an average price target of $84.35.

Get Our Latest Research Report on FMC

FMC Price Performance

Shares of FMC stock opened at $55.46 on Tuesday. The stock’s fifty day moving average is $57.28 and its 200-day moving average is $71.31. The company has a debt-to-equity ratio of 0.91, a quick ratio of 0.96 and a current ratio of 1.54. The stock has a market capitalization of $6.92 billion, a PE ratio of 14.11, a PEG ratio of 1.65 and a beta of 0.89. FMC has a 52 week low of $49.49 and a 52 week high of $133.37.

FMC (NYSE:FMCGet Free Report) last posted its quarterly earnings results on Tuesday, October 31st. The basic materials company reported $0.44 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.45 by ($0.01). The firm had revenue of $981.90 million during the quarter, compared to the consensus estimate of $1.01 billion. FMC had a net margin of 10.01% and a return on equity of 18.84%. FMC’s revenue was down 28.7% on a year-over-year basis. During the same quarter in the prior year, the business earned $1.23 EPS. Equities research analysts expect that FMC will post 3.82 EPS for the current fiscal year.

Insider Buying and Selling

In other news, Director Robert C. Pallash purchased 3,845 shares of the company’s stock in a transaction that occurred on Monday, November 27th. The stock was acquired at an average cost of $52.48 per share, with a total value of $201,785.60. Following the acquisition, the director now owns 47,871 shares in the company, valued at approximately $2,512,270.08. The acquisition was disclosed in a document filed with the Securities & Exchange Commission, which is available through this hyperlink. 0.85% of the stock is currently owned by insiders.

Hedge Funds Weigh In On FMC

Hedge funds and other institutional investors have recently added to or reduced their stakes in the stock. Steward Partners Investment Advisory LLC lifted its position in shares of FMC by 68.9% during the 4th quarter. Steward Partners Investment Advisory LLC now owns 228 shares of the basic materials company’s stock valued at $28,000 after acquiring an additional 93 shares during the period. CVA Family Office LLC bought a new stake in shares of FMC during the 4th quarter valued at $31,000. Quintet Private Bank Europe S.A. bought a new stake in shares of FMC during the 3rd quarter valued at $33,000. Spire Wealth Management lifted its position in shares of 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 acquiring an additional 299 shares during the period. Finally, V Square Quantitative Management LLC bought a new stake in shares of FMC during the 2nd quarter valued at $36,000. 86.91% of the stock is owned by institutional investors and hedge funds.

FMC Company Profile

(Get Free Report)

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 include 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.

Further Reading

Analyst Recommendations for FMC (NYSE:FMC)

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