3M (NYSE:MMM) PT Raised to $120.00 at Barclays

3M (NYSE:MMMGet Free Report) had its price target boosted by stock analysts at Barclays from $118.00 to $120.00 in a note issued to investors on Wednesday, Benzinga reports. The brokerage presently has an “overweight” rating on the conglomerate’s stock. Barclays‘s price objective would indicate a potential upside of 17.97% from the stock’s previous close.

Other equities analysts also recently issued reports about the stock. Citigroup increased their price objective on shares of 3M from $98.00 to $100.00 and gave the company a “neutral” rating in a report on Wednesday, May 1st. Bank of America upgraded shares of 3M from a “neutral” rating to a “buy” rating and lifted their price target for the company from $105.00 to $120.00 in a research report on Friday, June 7th. Vertical Research upgraded shares of 3M from a “hold” rating to a “buy” rating and lifted their price target for the stock from $92.00 to $140.00 in a research note on Thursday, May 16th. UBS Group raised their price objective on shares of 3M from $98.00 to $100.00 and gave the stock a “neutral” rating in a report on Wednesday, May 1st. Finally, Royal Bank of Canada lifted their target price on shares of 3M from $78.00 to $87.00 and gave the company an “underperform” rating in a report on Wednesday, May 1st. One analyst has rated the stock with a sell rating, five have assigned a hold rating and seven have issued a buy rating to the stock. According to data from MarketBeat.com, the stock currently has a consensus rating of “Hold” and an average target price of $112.17.

Check Out Our Latest Research Report on MMM

3M Price Performance

3M stock opened at $101.72 on Wednesday. 3M has a 1 year low of $71.12 and a 1 year high of $106.04. The company has a debt-to-equity ratio of 4.17, a current ratio of 1.64 and a quick ratio of 1.27. The stock has a market cap of $56.29 billion, a price-to-earnings ratio of -8.00, a price-to-earnings-growth ratio of 1.88 and a beta of 0.95. The firm has a 50-day moving average of $100.46 and a two-hundred day moving average of $99.00.

3M (NYSE:MMMGet Free Report) last posted its quarterly earnings data on Tuesday, April 30th. The conglomerate reported $2.39 EPS for the quarter, topping the consensus estimate of $2.10 by $0.29. 3M had a negative net margin of 21.57% and a positive return on equity of 95.80%. The firm had revenue of $8 billion during the quarter, compared to analyst estimates of $7.64 billion. During the same quarter in the previous year, the business posted $1.97 EPS. On average, research analysts forecast that 3M will post 7.17 earnings per share for the current year.

Institutional Investors Weigh In On 3M

Hedge funds and other institutional investors have recently made changes to their positions in the company. Tributary Capital Management LLC bought a new position in 3M in the 1st quarter worth approximately $25,000. Financial Synergies Wealth Advisors Inc. lifted its stake in 3M by 419.1% in the first quarter. Financial Synergies Wealth Advisors Inc. now owns 244 shares of the conglomerate’s stock valued at $26,000 after buying an additional 197 shares during the period. Northwest Investment Counselors LLC acquired a new position in 3M in the first quarter valued at about $32,000. Livelsberger Financial Advisory acquired a new stake in shares of 3M during the fourth quarter worth about $35,000. Finally, CGC Financial Services LLC raised its position in shares of 3M by 89.9% during the fourth quarter. CGC Financial Services LLC now owns 338 shares of the conglomerate’s stock worth $37,000 after purchasing an additional 160 shares during the period. 65.25% of the stock is owned by hedge funds and other institutional investors.

About 3M

(Get Free Report)

3M Company provides diversified technology services in the United States and internationally. The company's Safety and Industrial segment offers industrial abrasives and finishing for metalworking applications; autobody repair solutions; closure systems for personal hygiene products, masking, and packaging materials; electrical products and materials for construction and maintenance, power distribution, and electrical original equipment manufacturers; structural adhesives and tapes; respiratory, hearing, eye, and fall protection solutions; and natural and color-coated mineral granules for shingles.

Featured Articles

Analyst Recommendations for 3M (NYSE:MMM)

Receive News & Ratings for 3M Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for 3M and related companies with MarketBeat.com's FREE daily email newsletter.