Zacks Investment Research Upgrades FTI Consulting, Inc. (FCN) to “Strong-Buy”

FTI Consulting, Inc. (NYSE:FCN) was upgraded by Zacks Investment Research from a “hold” rating to a “strong-buy” rating in a research note issued on Monday. The firm presently has a $49.00 target price on the business services provider’s stock. Zacks Investment Research‘s price target points to a potential upside of 15.57% from the company’s previous close.

According to Zacks, “FTI Consulting reported healthy third-quarter 2017 results with earnings comfortably beating the Zacks Consensus Estimate. The company has elected few highly qualified executive officers for improving its operational performance in the long term. These drivers are expected to enhance the economic performance of the segments and are likely to reap benefits for the company in 2017. FTI Consulting’s unique capabilities of bringing together damage assessment, accounting, economics, statistics, finance and industry under a single umbrella make it an excellent partner for global clients dealing with international arbitration issues, thereby generating continued revenue growth from the existing international operations. However, the company is highly exposed to foreign exchange rate risks and pricing pressure due to the Brexit referendum, undermining its growth prospects to some extent. FTI Consulting underperformed the industry year to date.”

A number of other research firms also recently weighed in on FCN. BidaskClub raised FTI Consulting from a “strong sell” rating to a “sell” rating in a research report on Wednesday, August 9th. TheStreet raised FTI Consulting from a “c” rating to a “b” rating in a research report on Thursday. One equities research analyst has rated the stock with a sell rating, three have issued a hold rating and one has issued a strong buy rating to the stock. The company has a consensus rating of “Hold” and a consensus price target of $44.50.

FTI Consulting (FCN) traded up 0.54% during trading on Monday, hitting $42.63. 231,737 shares of the stock were exchanged. The stock has a market cap of $1.69 billion, a price-to-earnings ratio of 46.64 and a beta of 0.28. FTI Consulting has a 1-year low of $31.65 and a 1-year high of $47.12. The firm’s 50 day moving average price is $36.14 and its 200-day moving average price is $35.09.

FTI Consulting (NYSE:FCN) last released its quarterly earnings results on Thursday, October 26th. The business services provider reported $0.83 earnings per share for the quarter, topping analysts’ consensus estimates of $0.59 by $0.24. FTI Consulting had a return on equity of 6.12% and a net margin of 2.70%. The firm had revenue of $448.96 million during the quarter, compared to the consensus estimate of $446.63 million. During the same quarter in the prior year, the firm posted $0.52 EPS. The business’s revenue was up 2.5% on a year-over-year basis. On average, analysts anticipate that FTI Consulting will post $1.98 EPS for the current year.

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Several hedge funds and other institutional investors have recently added to or reduced their stakes in the company. Black Creek Investment Management Inc. boosted its holdings in shares of FTI Consulting by 19.6% in the 2nd quarter. Black Creek Investment Management Inc. now owns 4,512,287 shares of the business services provider’s stock valued at $157,750,000 after buying an additional 739,072 shares during the last quarter. BlackRock Inc. boosted its holdings in shares of FTI Consulting by 16,640.5% in the 1st quarter. BlackRock Inc. now owns 4,414,475 shares of the business services provider’s stock valued at $181,743,000 after buying an additional 4,388,105 shares during the last quarter. Vanguard Group Inc. boosted its holdings in shares of FTI Consulting by 6.5% in the 1st quarter. Vanguard Group Inc. now owns 3,561,878 shares of the business services provider’s stock valued at $146,642,000 after buying an additional 217,209 shares during the last quarter. State Street Corp boosted its holdings in shares of FTI Consulting by 3.5% in the 2nd quarter. State Street Corp now owns 1,349,945 shares of the business services provider’s stock valued at $47,192,000 after buying an additional 45,366 shares during the last quarter. Finally, Northern Trust Corp boosted its holdings in shares of FTI Consulting by 34.0% in the 2nd quarter. Northern Trust Corp now owns 1,230,348 shares of the business services provider’s stock valued at $43,013,000 after buying an additional 311,939 shares during the last quarter. 92.07% of the stock is owned by institutional investors.

About FTI Consulting

FTI Consulting, Inc is a business advisory company. The Company operates through five segments: Corporate Finance & Restructuring, Forensic and Litigation Consulting, Economic Consulting, Technology and Strategic Communications. The Company provides advice and services, such as restructuring (including bankruptcy), capital formation and indebtedness, interim business management, performance improvements, forensic accounting and litigation matters, international arbitrations, mergers and acquisitions (M&A), antitrust and competition matters, securities litigation, electronic discovery (or e-discovery), management and retrieval of electronically stored information (ESI), reputation management and strategic communications.

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