FTI Consulting (NYSE:FCN) Cut to “Hold” at StockNews.com

StockNews.com cut shares of FTI Consulting (NYSE:FCN) from a buy rating to a hold rating in a research note released on Friday morning.

Separately, Truist Financial raised their price target on shares of FTI Consulting from $240.00 to $255.00 and gave the stock a buy rating in a research note on Friday, February 23rd.

FTI Consulting Price Performance

FCN stock opened at $213.53 on Friday. The stock’s 50 day moving average price is $208.01 and its 200 day moving average price is $205.83. The firm has a market cap of $7.62 billion, a P/E ratio of 24.83 and a beta of 0.11. The company has a debt-to-equity ratio of 0.10, a quick ratio of 2.46 and a current ratio of 2.46. FTI Consulting has a 1 year low of $171.81 and a 1 year high of $232.15.

FTI Consulting (NYSE:FCN) last released its quarterly earnings results on Thursday, April 25th. The business services provider reported $2.23 earnings per share for the quarter, topping analysts’ consensus estimates of $1.76 by $0.47. The company had revenue of $928.60 million during the quarter, compared to analysts’ expectations of $901.77 million. FTI Consulting had a return on equity of 15.97% and a net margin of 8.51%. The business’s revenue for the quarter was up 15.1% compared to the same quarter last year. During the same period in the previous year, the firm posted $1.34 earnings per share. On average, sell-side analysts expect that FTI Consulting will post 8.15 earnings per share for the current fiscal year.

Insider Activity

In other FTI Consulting news, Director Brenda J. Bacon bought 1,120 shares of FTI Consulting stock in a transaction that occurred on Friday, February 23rd. The shares were purchased at an average cost of $222.96 per share, for a total transaction of $249,715.20. Following the completion of the transaction, the director now owns 15,292 shares of the company’s stock, valued at approximately $3,409,504.32. The acquisition was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. In related news, Director Brenda J. Bacon purchased 1,120 shares of the company’s stock in a transaction that occurred on Friday, February 23rd. The stock was purchased at an average price of $222.96 per share, with a total value of $249,715.20. Following the completion of the transaction, the director now owns 15,292 shares of the company’s stock, valued at approximately $3,409,504.32. The purchase was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. Also, insider Paul Alderman Linton sold 27,000 shares of FTI Consulting stock in a transaction on Thursday, March 7th. The shares were sold at an average price of $206.10, for a total transaction of $5,564,700.00. Following the completion of the transaction, the insider now owns 44,284 shares in the company, valued at approximately $9,126,932.40. The disclosure for this sale can be found here. Insiders sold a total of 36,715 shares of company stock valued at $7,617,513 over the last quarter. Company insiders own 2.51% of the company’s stock.

Institutional Investors Weigh In On FTI Consulting

Several institutional investors and hedge funds have recently added to or reduced their stakes in FCN. Vanguard Group Inc. grew its holdings in shares of FTI Consulting by 4.7% during the 4th quarter. Vanguard Group Inc. now owns 3,535,586 shares of the business services provider’s stock worth $704,112,000 after purchasing an additional 157,206 shares during the period. Kayne Anderson Rudnick Investment Management LLC increased its position in shares of FTI Consulting by 1.3% in the third quarter. Kayne Anderson Rudnick Investment Management LLC now owns 3,455,529 shares of the business services provider’s stock worth $616,501,000 after acquiring an additional 44,819 shares in the last quarter. Victory Capital Management Inc. raised its stake in shares of FTI Consulting by 9.2% in the 4th quarter. Victory Capital Management Inc. now owns 1,989,993 shares of the business services provider’s stock valued at $396,307,000 after acquiring an additional 168,100 shares during the period. Morgan Stanley lifted its holdings in shares of FTI Consulting by 1.2% during the 3rd quarter. Morgan Stanley now owns 1,452,226 shares of the business services provider’s stock valued at $259,092,000 after acquiring an additional 17,731 shares in the last quarter. Finally, Ameriprise Financial Inc. lifted its holdings in shares of FTI Consulting by 26.8% during the 3rd quarter. Ameriprise Financial Inc. now owns 606,786 shares of the business services provider’s stock valued at $108,257,000 after acquiring an additional 128,095 shares in the last quarter. 99.36% of the stock is currently owned by institutional investors and hedge funds.

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.