Comerica Bank lowered its holdings in FTI Consulting, Inc. (NYSE:FCN) by 1.0% during the third quarter, Holdings Channel.com reports. The firm owned 48,175 shares of the business services provider’s stock after selling 472 shares during the period. Comerica Bank’s holdings in FTI Consulting were worth $5,638,000 at the end of the most recent reporting period.
Other institutional investors have also bought and sold shares of the company. Huntington National Bank acquired a new position in FTI Consulting in the second quarter worth $25,000. Atria Investments LLC acquired a new position in FTI Consulting in the second quarter worth $38,000. Meeder Asset Management Inc. acquired a new position in FTI Consulting in the second quarter worth $47,000. Carroll Financial Associates Inc. acquired a new position in FTI Consulting in the second quarter worth $51,000. Finally, Flagship Harbor Advisors LLC boosted its stake in FTI Consulting by 243.4% in the third quarter. Flagship Harbor Advisors LLC now owns 498 shares of the business services provider’s stock worth $52,000 after purchasing an additional 353 shares in the last quarter. 96.70% of the stock is currently owned by institutional investors.
A number of equities analysts have commented on the company. ValuEngine lowered FTI Consulting from a “sell” rating to a “strong sell” rating in a research note on Tuesday. Sidoti upped their price target on FTI Consulting from $134.00 to $150.00 and gave the company a “buy” rating in a research note on Friday, October 25th. SunTrust Banks set a $130.00 price target on FTI Consulting and gave the company a “buy” rating in a research note on Friday, October 25th. Finally, William Blair reaffirmed a “market perform” rating on shares of FTI Consulting in a research note on Friday, October 25th. One equities research analyst has rated the stock with a sell rating, two have given a hold rating and two have issued a buy rating to the stock. FTI Consulting currently has an average rating of “Hold” and a consensus price target of $118.67.
Shares of FCN opened at $108.90 on Thursday. The company has a quick ratio of 2.00, a current ratio of 2.00 and a debt-to-equity ratio of 0.30. FTI Consulting, Inc. has a 12-month low of $59.06 and a 12-month high of $118.23. The firm has a market capitalization of $4.10 billion, a PE ratio of 27.23 and a beta of 0.21. The stock’s fifty day simple moving average is $108.88 and its 200-day simple moving average is $96.55.
FTI Consulting (NYSE:FCN) last issued its quarterly earnings results on Thursday, October 24th. The business services provider reported $1.63 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.97 by $0.66. FTI Consulting had a return on equity of 15.79% and a net margin of 9.37%. The business had revenue of $593.10 million for the quarter, compared to analyst estimates of $516.48 million. During the same quarter in the prior year, the firm posted $1.00 earnings per share. The firm’s revenue for the quarter was up 15.6% compared to the same quarter last year. Analysts anticipate that FTI Consulting, Inc. will post 5.91 EPS for the current year.
In other news, CFO Ajay Sabherwal sold 7,458 shares of the company’s stock in a transaction on Wednesday, August 21st. The stock was sold at an average price of $107.08, for a total transaction of $798,602.64. Following the transaction, the chief financial officer now owns 10,677 shares of the company’s stock, valued at $1,143,293.16. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, Director Vernon James Ellis sold 4,000 shares of the company’s stock in a transaction on Wednesday, August 21st. The shares were sold at an average price of $106.88, for a total value of $427,520.00. Following the transaction, the director now directly owns 28,093 shares in the company, valued at approximately $3,002,579.84. The disclosure for this sale can be found here. Corporate insiders own 2.56% of the company’s stock.
FTI Consulting Profile
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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