Barclays Lowers FMC (NYSE:FMC) Price Target to $48.00

FMC (NYSE:FMC) had its price objective cut by equities research analysts at Barclays from $49.00 to $48.00 in a research note issued on Wednesday,Benzinga reports. The brokerage presently has an “overweight” rating on the basic materials company’s stock. Barclays‘s price target points to a potential upside of 28.76% from the stock’s previous close.

FMC has been the topic of a number of other reports. KeyCorp upped their target price on FMC from $53.00 to $61.00 and gave the stock an “overweight” rating in a research note on Monday, July 14th. Royal Bank Of Canada decreased their target price on FMC from $47.00 to $42.00 and set a “sector perform” rating on the stock in a research note on Friday, August 1st. Wells Fargo & Company upgraded FMC from an “equal weight” rating to an “overweight” rating and upped their target price for the stock from $41.00 to $50.00 in a research note on Monday, June 23rd. Morgan Stanley reduced their price objective on FMC from $46.00 to $42.00 and set an “equal weight” rating on the stock in a research report on Friday, August 1st. Finally, UBS Group reduced their price objective on FMC from $45.00 to $44.00 and set a “neutral” rating on the stock in a research report on Thursday, July 31st. One investment analyst has rated the stock with a sell rating, eight have given a hold rating and five have assigned a buy rating to the company’s stock. According to MarketBeat, FMC has a consensus rating of “Hold” and an average target price of $49.58.

FMC Stock Performance

Shares of FMC opened at $37.28 on Wednesday. The stock has a market capitalization of $4.66 billion, a price-to-earnings ratio of 46.60, a price-to-earnings-growth ratio of 1.16 and a beta of 0.75. The company has a debt-to-equity ratio of 0.74, a quick ratio of 1.14 and a current ratio of 1.53. The stock’s 50-day simple moving average is $41.46 and its 200 day simple moving average is $40.44. FMC has a 52-week low of $32.83 and a 52-week high of $67.75.

FMC (NYSE:FMC) last announced its earnings results on Wednesday, July 30th. The basic materials company reported $0.69 earnings per share for the quarter, topping analysts’ consensus estimates of $0.59 by $0.10. The business had revenue of $1.05 billion for the quarter, compared to analyst estimates of $995.15 million. FMC had a return on equity of 9.36% and a net margin of 2.42%. The company’s quarterly revenue was up 1.2% compared to the same quarter last year. During the same period in the prior year, the company earned $0.63 EPS. Research analysts forecast that FMC will post 3.48 EPS for the current fiscal year.

Hedge Funds Weigh In On FMC

Several institutional investors and hedge funds have recently bought and sold shares of the stock. Janus Henderson Group PLC grew its position in FMC by 0.5% during the 4th quarter. Janus Henderson Group PLC now owns 59,771 shares of the basic materials company’s stock worth $2,905,000 after acquiring an additional 286 shares during the last quarter. Algert Global LLC lifted its holdings in FMC by 0.5% in the 4th quarter. Algert Global LLC now owns 59,052 shares of the basic materials company’s stock worth $2,871,000 after buying an additional 300 shares during the period. Treasurer of the State of North Carolina lifted its holdings in FMC by 0.6% in the 4th quarter. Treasurer of the State of North Carolina now owns 54,754 shares of the basic materials company’s stock worth $2,662,000 after buying an additional 350 shares during the period. Oak Thistle LLC lifted its holdings in FMC by 5.5% in the 1st quarter. Oak Thistle LLC now owns 7,653 shares of the basic materials company’s stock worth $323,000 after buying an additional 398 shares during the period. Finally, Golden State Wealth Management LLC lifted its holdings in FMC by 66.6% in the 1st quarter. Golden State Wealth Management LLC now owns 1,006 shares of the basic materials company’s stock worth $42,000 after buying an additional 402 shares during the period. 91.86% of the stock is currently owned by institutional investors.

About FMC

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.