StockNews.com Upgrades 3M (NYSE:MMM) to “Strong-Buy”

3M (NYSE:MMM) was upgraded by stock analysts at StockNews.com from a “buy” rating to a “strong-buy” rating in a research note issued on Tuesday.

A number of other research analysts also recently weighed in on MMM. Citigroup raised their price target on 3M from $95.31 to $98.00 and gave the company a “neutral” rating in a research note on Monday, April 8th. Royal Bank of Canada reduced their price objective on 3M from $84.00 to $78.00 and set an “underperform” rating on the stock in a research report on Tuesday, April 2nd. Mizuho reiterated a “neutral” rating and issued a $105.00 price target on shares of 3M in a research report on Wednesday, March 27th. Barclays cut their target price on 3M from $126.00 to $107.00 and set an “overweight” rating on the stock in a research report on Tuesday, April 2nd. Finally, Wells Fargo & Company cut their price target on 3M from $112.00 to $105.00 and set an “equal weight” rating on the stock in a report on Wednesday, January 24th. One equities research analyst has rated the stock with a sell rating, eight have issued a hold rating, one has assigned a buy rating and one has issued a strong buy rating to the company. According to data from MarketBeat.com, 3M currently has a consensus rating of “Hold” and an average target price of $104.00.

3M Stock Down 0.1 %

Shares of 3M stock opened at $90.95 on Tuesday. The business’s 50 day simple moving average is $95.81 and its 200 day simple moving average is $97.26. 3M has a 52-week low of $71.12 and a 52-week high of $95.67. The firm has a market cap of $50.33 billion, a PE ratio of -7.20, a P/E/G ratio of 1.61 and a beta of 1.02. The company has a debt-to-equity ratio of 2.69, a quick ratio of 0.76 and a current ratio of 1.07.

3M (NYSE:MMM) last posted its quarterly earnings results on Tuesday, January 23rd. The conglomerate reported $2.42 earnings per share for the quarter, beating analysts’ consensus estimates of $2.31 by $0.11. The firm had revenue of $8.01 billion during the quarter, compared to the consensus estimate of $7.69 billion. 3M had a positive return on equity of 62.45% and a negative net margin of 21.40%. The business’s revenue was down 1.1% compared to the same quarter last year. During the same period last year, the company earned $2.28 earnings per share. On average, analysts predict that 3M will post 8.79 earnings per share for the current fiscal year.

Insider Activity at 3M

In other 3M news, insider Rodriguez Beatriz Karin Chavez sold 426 shares of the company’s stock in a transaction that occurred on Wednesday, February 14th. The stock was sold at an average price of $92.32, for a total transaction of $39,328.32. Following the transaction, the insider now owns 3,966 shares in the company, valued at approximately $366,141.12. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this hyperlink. 0.38% of the stock is owned by company insiders.

Hedge Funds Weigh In On 3M

Hedge funds and other institutional investors have recently added to or reduced their stakes in the business. Financial Freedom LLC purchased a new stake in shares of 3M in the 4th quarter worth $25,000. Financial Synergies Wealth Advisors Inc. grew its position in shares of 3M by 419.1% during the first quarter. Financial Synergies Wealth Advisors Inc. now owns 244 shares of the conglomerate’s stock valued at $26,000 after purchasing an additional 197 shares in the last quarter. DHJJ Financial Advisors Ltd. bought a new position in shares of 3M in the 3rd quarter valued at about $28,000. Northwest Investment Counselors LLC bought a new position in shares of 3M in the 1st quarter valued at about $32,000. Finally, Briaud Financial Planning Inc bought a new position in shares of 3M in the 3rd quarter valued at about $35,000. 65.25% of the stock is owned by institutional investors.

3M Company Profile

3M Company provides diversified technology services in the United States and internationally. The company's Safety and Industrial segment offers industrial abrasives and finishing for metalworking applications; autobody repair solutions; closure systems for personal hygiene products, masking, and packaging materials; electrical products and materials for construction and maintenance, power distribution, and electrical original equipment manufacturers; structural adhesives and tapes; respiratory, hearing, eye, and fall protection solutions; and natural and color-coated mineral granules for shingles.