FTI Consulting (NYSE:FCN) Given New $275.00 Price Target at Truist Financial

FTI Consulting (NYSE:FCN) had its price objective upped by equities research analysts at Truist Financial from $255.00 to $275.00 in a report issued on Wednesday, Benzinga reports. The brokerage currently has a “buy” rating on the business services provider’s stock. Truist Financial’s target price suggests a potential upside of 20.92% from the stock’s previous close.

Several other equities research analysts have also recently weighed in on FCN. StockNews.com upgraded FTI Consulting from a “hold” rating to a “buy” rating in a research report on Thursday, July 25th. William Blair restated an “outperform” rating on shares of FTI Consulting in a research report on Tuesday, June 25th.

FTI Consulting Stock Performance

FCN traded up $0.09 during midday trading on Wednesday, reaching $227.43. The company had a trading volume of 17,186 shares, compared to its average volume of 171,017. The business has a 50-day moving average price of $223.03 and a two-hundred day moving average price of $216.66. FTI Consulting has a 12-month low of $175.03 and a 12-month high of $243.60. The stock has a market cap of $8.16 billion, a PE ratio of 26.42 and a beta of 0.10. The company has a debt-to-equity ratio of 0.03, a quick ratio of 2.20 and a current ratio of 2.20.

FTI Consulting (NYSE:FCN) last posted its earnings results on Thursday, July 25th. The business services provider reported $2.34 earnings per share for the quarter, topping the consensus estimate of $2.02 by $0.32. The firm had revenue of $949.16 million during the quarter, compared to the consensus estimate of $938.67 million. FTI Consulting had a net margin of 8.90% and a return on equity of 16.34%. The company’s revenue was up 9.8% on a year-over-year basis. During the same quarter last year, the company earned $1.75 earnings per share. On average, sell-side analysts expect that FTI Consulting will post 8.48 earnings per share for the current fiscal year.

Insider Activity

In other news, Director Mark S. Bartlett sold 2,000 shares of the stock in a transaction that occurred on Friday, July 26th. The stock was sold at an average price of $227.12, for a total transaction of $454,240.00. Following the completion of the sale, the director now owns 26,099 shares of the company’s stock, valued at $5,927,604.88. The transaction was disclosed in a legal filing with the SEC, which is accessible through the SEC website. Insiders own 2.51% of the company’s stock.

Institutional Trading of FTI Consulting

Institutional investors and hedge funds have recently added to or reduced their stakes in the business. Point72 Asia Singapore Pte. Ltd. increased its holdings in shares of FTI Consulting by 284.1% during the second quarter. Point72 Asia Singapore Pte. Ltd. now owns 242 shares of the business services provider’s stock valued at $52,000 after acquiring an additional 179 shares in the last quarter. Sanctuary Advisors LLC bought a new stake in FTI Consulting in the 2nd quarter worth about $1,175,000. Dana Investment Advisors Inc. increased its holdings in FTI Consulting by 2.2% in the 2nd quarter. Dana Investment Advisors Inc. now owns 8,168 shares of the business services provider’s stock worth $1,760,000 after buying an additional 172 shares in the last quarter. Greenvale Capital LLP boosted its position in FTI Consulting by 30.9% in the second quarter. Greenvale Capital LLP now owns 360,000 shares of the business services provider’s stock worth $77,591,000 after purchasing an additional 85,000 shares during the last quarter. Finally, Truist Financial Corp boosted its position in FTI Consulting by 2.1% in the second quarter. Truist Financial Corp now owns 3,757 shares of the business services provider’s stock worth $810,000 after purchasing an additional 76 shares during the last quarter. Hedge funds and other institutional investors own 99.36% of the company’s stock.

About FTI Consulting

FTI Consulting, Inc provides business advisory services to manage change, mitigate risk, and resolve disputes worldwide. The company operates through Corporate Finance & Restructuring, Forensic and Litigation Consulting, Economic Consulting, Technology, and Strategic Communications segments. The Corporate Finance & Restructuring segment provides business transformation and strategy, transactions, and turnaround and restructuring services.