3M (NYSE:MMM) Given New $165.00 Price Target at Barclays

3M (NYSE:MMM) had its price target upped by equities research analysts at Barclays from $161.00 to $165.00 in a note issued to investors on Wednesday,Benzinga reports. The brokerage presently has an “overweight” rating on the conglomerate’s stock. Barclays‘s price objective would indicate a potential upside of 10.26% from the company’s current price.

Other equities analysts have also recently issued reports about the company. Melius Research raised 3M from a “hold” rating to a “buy” rating and set a $180.00 price objective for the company in a report on Tuesday, October 22nd. Wells Fargo & Company lifted their price objective on 3M from $130.00 to $140.00 and gave the stock an “equal weight” rating in a report on Monday, October 7th. Melius raised 3M from a “hold” rating to a “buy” rating in a research report on Tuesday, October 22nd. Mizuho raised their price target on 3M from $105.00 to $146.00 and gave the stock a “neutral” rating in a research report on Thursday, October 17th. Finally, Royal Bank of Canada dropped their price target on 3M from $100.00 to $96.00 and set an “underperform” rating for the company in a research report on Friday, January 3rd. Two analysts have rated the stock with a sell rating, three have assigned a hold rating and twelve have assigned a buy rating to the stock. Based on data from MarketBeat.com, the stock presently has a consensus rating of “Moderate Buy” and a consensus target price of $148.87.

3M Stock Up 0.4 %

MMM opened at $149.64 on Wednesday. The company has a debt-to-equity ratio of 2.41, a current ratio of 1.43 and a quick ratio of 1.08. The business has a 50 day simple moving average of $132.09 and a 200-day simple moving average of $128.67. The stock has a market capitalization of $81.49 billion, a P/E ratio of 19.82, a P/E/G ratio of 2.42 and a beta of 0.95. 3M has a 12 month low of $75.40 and a 12 month high of $152.08.

3M (NYSE:MMM) last issued its quarterly earnings data on Tuesday, January 21st. The conglomerate reported $1.68 earnings per share (EPS) for the quarter, topping the consensus estimate of $1.66 by $0.02. The firm had revenue of $6.01 billion during the quarter, compared to analysts’ expectations of $5,770,390 billion. 3M had a return on equity of 97.19% and a net margin of 15.71%. 3M’s revenue was down 25.0% on a year-over-year basis. During the same period in the previous year, the firm posted $2.42 earnings per share. On average, equities analysts anticipate that 3M will post 7.66 earnings per share for the current fiscal year.

Institutional Inflows and Outflows

A number of hedge funds and other institutional investors have recently added to or reduced their stakes in the company. Gilbert & Cook Inc. boosted its holdings in 3M by 1.5% in the fourth quarter. Gilbert & Cook Inc. now owns 5,106 shares of the conglomerate’s stock valued at $659,000 after acquiring an additional 73 shares during the last quarter. CVA Family Office LLC boosted its holdings in 3M by 1.9% in the third quarter. CVA Family Office LLC now owns 4,174 shares of the conglomerate’s stock valued at $571,000 after acquiring an additional 79 shares during the last quarter. Wynn Capital LLC boosted its holdings in 3M by 0.7% in the fourth quarter. Wynn Capital LLC now owns 11,690 shares of the conglomerate’s stock valued at $1,509,000 after acquiring an additional 80 shares during the last quarter. Harbour Investments Inc. boosted its holdings in 3M by 0.8% in the third quarter. Harbour Investments Inc. now owns 10,559 shares of the conglomerate’s stock valued at $1,443,000 after acquiring an additional 81 shares during the last quarter. Finally, KMG Fiduciary Partners LLC lifted its stake in shares of 3M by 0.5% during the third quarter. KMG Fiduciary Partners LLC now owns 16,186 shares of the conglomerate’s stock worth $2,213,000 after purchasing an additional 84 shares in the last quarter. Institutional investors and hedge funds own 65.25% of the company’s stock.

About 3M

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.