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

StockNews.com downgraded shares of FTI Consulting (NYSE:FCN) from a buy rating to a hold rating in a research note issued to investors on Friday.

Separately, Truist Financial upped their price objective on FTI Consulting from $240.00 to $255.00 and gave the company a buy rating in a research report on Friday, February 23rd.

FTI Consulting Stock Down 1.8 %

FTI Consulting stock opened at $211.36 on Friday. The company has a debt-to-equity ratio of 0.10, a quick ratio of 1.74 and a current ratio of 2.46. FTI Consulting has a fifty-two week low of $167.39 and a fifty-two week high of $232.15. The stock’s fifty day moving average is $207.58 and its two-hundred day moving average is $205.52. The firm has a market capitalization of $7.53 billion, a price-to-earnings ratio of 24.58 and a beta of 0.11.

FTI Consulting (NYSE:FCN) last issued its quarterly earnings data on Thursday, April 25th. The business services provider reported $2.23 earnings per share (EPS) for the quarter, beating the consensus estimate of $1.76 by $0.47. FTI Consulting had a return on equity of 15.97% and a net margin of 8.51%. The business had revenue of $928.60 million for the quarter, compared to the consensus estimate of $901.77 million. During the same period in the prior year, the business earned $1.34 earnings per share. The business’s revenue was up 15.1% on a year-over-year basis. Analysts predict that FTI Consulting will post 8.15 EPS for the current fiscal year.

Insider Buying and Selling

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 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. Also, Director Claudio Costamagna sold 7,059 shares of the stock in a transaction dated Tuesday, March 5th. The stock was sold at an average price of $209.13, for a total value of $1,476,248.67. Following the transaction, the director now owns 32,860 shares in the company, valued at $6,872,011.80. The disclosure for this sale can be found here. Over the last ninety days, insiders have sold 36,715 shares of company stock worth $7,617,513. 3.34% of the stock is owned by company insiders.

Hedge Funds Weigh In On FTI Consulting

A number of large investors have recently modified their holdings of the company. New York State Teachers Retirement System raised its holdings in shares of FTI Consulting by 0.5% in the 1st quarter. New York State Teachers Retirement System now owns 42,163 shares of the business services provider’s stock worth $8,866,000 after purchasing an additional 200 shares during the period. Assenagon Asset Management S.A. raised its holdings in shares of FTI Consulting by 10.2% in the 1st quarter. Assenagon Asset Management S.A. now owns 1,310 shares of the business services provider’s stock worth $275,000 after purchasing an additional 121 shares during the period. Wesbanco Bank Inc. purchased a new position in shares of FTI Consulting in the 1st quarter worth about $670,000. Edge Financial Advisors LLC purchased a new position in shares of FTI Consulting in the 1st quarter worth about $338,000. Finally, Norden Group LLC purchased a new position in shares of FTI Consulting in the 1st quarter worth about $2,323,000. 99.36% 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 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.