FMC (NYSE:FMC) Price Target Increased to $81.00

Investment analysts at the Royal Bank of Canada have raised their price target for FMC Corporation (NYSE:FMC) from $78.00 to $81.00, according to a report released on Friday. This new price target suggests a potential upside of 28.27% based on the company’s current stock price. The brokerage has issued an "outperform" rating for the firm in the basic materials sector.

Several other research analysts have provided their insights on FMC’s stock recently. In a report dated July 16, Wells Fargo & Company lowered their price target for FMC from $68.00 to $62.00 while maintaining an "equal weight" rating. Later, on August 12, JPMorgan Chase & Co. increased their price target from $50.00 to $59.00 and assigned a "neutral" rating. Similarly, KeyCorp adjusted their price target for FMC from $81.00 down to $79.00 and maintained an "overweight" rating in a report released on August 2. Additionally, Citigroup began coverage on FMC with a "neutral" rating and a price objective of $67.00 on October 23. BMO Capital Markets also raised their price target from $60.00 to $65.00, and gave the stock a "market perform" rating on the same date as KeyCorp's report.

The stock has received mixed reviews from analysts, with one rating it as a sell, while ten have given it a hold rating, four assigned a buy rating, and one gave it a strong buy rating. MarketBeat.com reports an average rating of "Hold" for FMC, with an average price target set at $68.00.

FMC Stock Performance

On Friday, shares of FMC opened at $63.15. Over the past year, the stock has reached a low of $49.49 and a high of $68.72. The company maintains a debt-to-equity ratio of 0.65 and a current ratio of 1.48, with a quick ratio of 1.07. Its 50-day moving average sits at $63.21, while its 200-day moving average is $60.88. FMC's market capitalization is reported at $7.88 billion, with a price-to-earnings ratio of 5.43 and a P/E/G ratio of 1.66, alongside a beta of 0.85.

FMC recently announced its quarterly earnings results on October 29, surpassing analyst expectations. The company reported earnings per share (EPS) of $0.69, exceeding the consensus estimate of $0.49 by $0.20, alongside revenues of $1.07 billion, which also exceeded the estimated $1.04 billion. The firm’s revenue increased by 8.5% compared to the same quarter last year. Analysts predict that FMC will achieve 3.3 EPS for the current fiscal year.

Institutional Investments in FMC

Recent changes in institutional positions have been notable. Wealth Enhancement Advisory Services LLC increased its stake in FMC by 13.4% during the first quarter, now owning 13,422 shares valued at approximately $855,000 after a purchase of 1,583 additional shares. Allspring Global Investments Holdings LLC grew its shareholdings in FMC by 32.6%, now having 8,467 shares valued at $539,000 following an acquisition of 2,084 shares in the same quarter. Another firm, Commonwealth Equity Services LLC, lifted its holdings by 15.9%, now owning 26,119 shares worth $1.66 million. Other institutional investors have also initiated new positions in FMC throughout the first quarter. Overall, hedge funds and institutional investors collectively own about 91.86% of FMC's stock.

About FMC Corporation

FMC Corporation operates in the agricultural sciences sector, specializing in crop protection, plant health, and pest management products for various applications. The company develops and markets a range of crop protection chemicals including insecticides, herbicides, fungicides, alongside biological products, crop nutrition, and seed treatment products aimed at enhancing the quality and yield of crops, as well as managing pests in non-agricultural markets.

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