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Vetr Inc. lowers 3M Co to Hold rating

3M Co earned a rating of “buy” from analysts at Vetr on Tuesday. The stock current target price settled at $161.43. It suggests a potential upside by about 3.79% from the prior close of the stock. 

Many analysts have made changes on the 3M Co. stocks. Tower Square Investment Management, LLC bought a new share during the fourth quarter, worth $1,575,000. First Allied Advisory Services Inc. upgraded shares by about 3.9% in the fourth quarter. It now owns about 49,804 shares, with a total value of $7,531,000 after purchasing an additional 1,855 shares during the period. Raymond James & Associates lifted shares by about 10.2% in the fourth quarter. It now owns about 507,694 shares, valuing at $76,481,000 after purchasing an additional 46,803 shares during the period. Stadion Money Management, LLC upgraded shares by about 12.7% in the fourth quarter. It now owns about 8,218 shares, worth $1,238,000 after purchasing an additional 925 shares during the period. Lastly, BlueCrest Capital Management Ltd bought a new share during the fourth quarter, amounting to $1,317,000.


Company shares of 3M traded at 1.02% during the Tuesday session, and hit $155.53. The stock’s trading volume settled at 2,140,576 shares. It posted a 50-day moving average of $146.41, and a 200-day moving average registered at $148.82. The market cap of the firm stands at $94.10 billion, along with a 20.52 P/E ratio. Its 52-week low posted $134.00, while its 52-week high noted $170.50.

3M recently issued its financial earnings for the quarter on January 26th. Its quarterly earnings per share (EPS) posted $1.66, beating the analysts’ consensus estimate of $1.63 by $0.03. The business earned a quarterly revenue of $7.30 billion, compared to analysts’ forecast of $7.21 billion. The company’s revenue for the quarter decline by 5.5% on a year-over-year basis. Amid the same period prior year, it has earned an EPS of $1.81. On average, analysts are expecting the company to post an EPS of $8.23 for the current fiscal year. 

On the February 10th transaction, EVP Michael G. Vale sold 2,728 shares. The average price of the sold shares settled at $154.80, with a total transaction value of $422,294.40. After the sale, the executive vice president now owns about 16,559 shares, worth $2,563,333.20. The transaction was disclosed in legal Form 4 filing with the Securities and Exchange Commission (SEC).


A few analysts currently weigh in on the company’s stock. Zacks Investment Research lifted a rating of “sell” into a “hold” on November 4th. Citigroup Inc. began coverage on the company on January 21st. They issued a rating of “buy” and set a price objective of $166.00. Deutsche Bank lowered their price objective from $160.00 to $158.00 and gave a rating of “hold” on January 28th. William Blair reassigned a rating of “market perform” and affirmed a price objective of $149.00 on January 27th. Lastly, Goldman Sachs raised their price objective from $147.00 to $151.00 and issued a rating of “neutral” on January 27th.

One analysts of which gave a sell rating on the stock, seven have set a rating of hold, three affirmed a rating of buy. The average consensus rating of the stock currently settled at “Hold”, along with a $156.11 average price objective. 

As the Vetr Inc. lowers 3M Co to Hold rating, tons of investors will likely watch out for signals about this company stock. You too can earn bigger profits and execute better trades here at Trade12 by reading the latest market updates on our official website, Striving to become the best forex broker for you, Trade12 reviews daily market events essential to your trading activities to help you develop a keen understanding of what is forex and certain trends involving stocks, currencies, indices, commodities, and metals. With all the positive Trade12 feedback from clients, you will be assured that your trading account is safe and secured.

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