Zacks Investment Research upgraded shares of FTI Consulting (NYSE:FCN) from a hold rating to a buy rating in a report published on Thursday. Zacks Investment Research currently has $76.00 target price on the business services provider’s stock.
According to Zacks, “FTI Consulting’s unique potential to bring together diverse issues like damage assessment, accounting, economics, statistics, finance and industry under a single platform makes it an excellent partner for global clients, thereby generating continued revenue growth from the existing international operations. The company is consistent in rewarding its shareholders in the form of share repurchases. The company's shares outperformed the industry it belongs in the past year. Despite such positives, FTI Consulting’s international operations exposes it to risks associated with foreign exchange rate fluctuations. The company's business also experiences seasonality. Escalating investments on people are likely to increase the costs incurred by FTI Consulting.”
Separately, ValuEngine raised shares of FTI Consulting from a hold rating to a buy rating in a research note on Wednesday, January 2nd.
Shares of FTI Consulting stock opened at $68.40 on Thursday. The stock has a market capitalization of $2.63 billion, a P/E ratio of 17.27 and a beta of 0.08. FTI Consulting has a twelve month low of $39.57 and a twelve month high of $81.91. The company has a debt-to-equity ratio of 0.19, a quick ratio of 1.64 and a current ratio of 1.64.
In related news, insider Paul Alderman Linton sold 6,351 shares of the firm’s stock in a transaction dated Monday, December 3rd. The shares were sold at an average price of $69.52, for a total value of $441,521.52. Following the transaction, the insider now directly owns 21,977 shares of the company’s stock, valued at approximately $1,527,841.04. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at this link. Company insiders own 2.19% of the company’s stock.
A number of institutional investors have recently modified their holdings of FCN. FMR LLC lifted its stake in FTI Consulting by 419.0% in the 2nd quarter. FMR LLC now owns 2,982,035 shares of the business services provider’s stock worth $180,353,000 after purchasing an additional 2,407,460 shares in the last quarter. Bank of America Corp DE lifted its stake in FTI Consulting by 5.9% in the 2nd quarter. Bank of America Corp DE now owns 65,346 shares of the business services provider’s stock worth $3,952,000 after purchasing an additional 3,639 shares in the last quarter. Bank of New York Mellon Corp lifted its stake in FTI Consulting by 4.3% in the 2nd quarter. Bank of New York Mellon Corp now owns 472,813 shares of the business services provider’s stock worth $28,595,000 after purchasing an additional 19,280 shares in the last quarter. MERIAN GLOBAL INVESTORS UK Ltd lifted its stake in FTI Consulting by 1,309.2% in the 3rd quarter. MERIAN GLOBAL INVESTORS UK Ltd now owns 370,806 shares of the business services provider’s stock worth $27,139,000 after purchasing an additional 344,492 shares in the last quarter. Finally, Bowling Portfolio Management LLC lifted its stake in FTI Consulting by 14.9% in the 3rd quarter. Bowling Portfolio Management LLC now owns 34,276 shares of the business services provider’s stock worth $2,509,000 after purchasing an additional 4,453 shares in the last quarter. 99.19% of the stock is currently owned by hedge funds and other institutional investors.
About FTI Consulting
FTI Consulting, Inc provides business advisory services to manage change, mitigate risk, and resolve disputes worldwide. The company's Corporate Finance & Restructuring segment provides turnaround and restructuring, business transformation, interim management, valuation and financial advisory, transaction, dispute advisory, and tax services, as well as mergers and acquisitions (M&A), and M&A integration services.
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