ValuEngine Downgrades 3M (MMM) to Sell

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3M (NYSE:MMM) was downgraded by equities research analysts at ValuEngine from a “hold” rating to a “sell” rating in a report released on Thursday.

Other research analysts have also issued reports about the company. Argus cut their price target on 3M from $285.00 to $240.00 and set a “buy” rating for the company in a report on Wednesday, April 25th. Citigroup set a $284.00 price objective on 3M and gave the company a “buy” rating in a research report on Saturday, March 24th. Stifel Nicolaus restated a “hold” rating and set a $225.00 price objective (down from $251.00) on shares of 3M in a research report on Monday, April 2nd. Zacks Investment Research cut 3M from a “buy” rating to a “hold” rating in a research report on Wednesday, March 28th. Finally, Vetr cut 3M from a “buy” rating to a “hold” rating and set a $251.35 price objective on the stock. in a research report on Tuesday, February 27th. Five research analysts have rated the stock with a sell rating, five have assigned a hold rating, eight have issued a buy rating and one has issued a strong buy rating to the stock. The stock presently has a consensus rating of “Hold” and an average target price of $240.65.

Shares of 3M opened at $196.50 on Thursday, Marketbeat.com reports. 3M has a 12 month low of $191.44 and a 12 month high of $259.77. The company has a market cap of $116.08 billion, a PE ratio of 20.56, a price-to-earnings-growth ratio of 1.85 and a beta of 1.16. The company has a debt-to-equity ratio of 1.11, a current ratio of 1.65 and a quick ratio of 1.17.

3M (NYSE:MMM) last issued its quarterly earnings results on Tuesday, April 24th. The conglomerate reported $2.50 EPS for the quarter, hitting analysts’ consensus estimates of $2.50. 3M had a return on equity of 50.11% and a net margin of 12.83%. The company had revenue of $8.28 billion during the quarter, compared to analyst estimates of $8.21 billion. During the same period in the previous year, the company earned $2.16 earnings per share. The company’s quarterly revenue was up 7.7% compared to the same quarter last year. equities analysts anticipate that 3M will post 10.4 earnings per share for the current fiscal year.

A number of large investors have recently made changes to their positions in the business. Allianz Life Insurance Co of North America bought a new stake in 3M in the first quarter valued at $239,000. HighPoint Advisor Group LLC grew its position in 3M by 4.8% in the first quarter. HighPoint Advisor Group LLC now owns 26,416 shares of the conglomerate’s stock valued at $5,457,000 after acquiring an additional 1,216 shares during the period. Rikoon Group LLC grew its position in 3M by 0.8% in the first quarter. Rikoon Group LLC now owns 36,640 shares of the conglomerate’s stock valued at $7,790,000 after acquiring an additional 283 shares during the period. Private Vista LLC bought a new stake in 3M in the first quarter valued at $354,000. Finally, Altium Wealth Management LLC grew its position in 3M by 11.9% in the first quarter. Altium Wealth Management LLC now owns 3,321 shares of the conglomerate’s stock valued at $730,000 after acquiring an additional 352 shares during the period. Hedge funds and other institutional investors own 65.50% of the company’s stock.

About 3M

3M Company operates as a diversified technology company worldwide. The company's Industrial segment offers tapes; coated, non-woven, and bonded abrasives; adhesives; ceramics; sealants; specialty materials; purification products; closure systems for personal hygiene products; acoustic systems products; automotive components; and abrasion-resistant films, and paint finishing and detailing products.

To view ValuEngine’s full report, visit ValuEngine’s official website.

Analyst Recommendations for 3M (NYSE:MMM)

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