RBC Capital Sticks to Their Sell Rating for 3M (MMM)

RBC Capital analyst Deane Dray maintained a Sell rating on 3M on April 14 and set a price target of $134.00. The company’s shares closed yesterday at $152.55.

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Dray covers the Industrials sector, focusing on stocks such as Lennox International, nVent Electric, and Pentair. According to TipRanks, Dray has an average return of 13.7% and a 65.13% success rate on recommended stocks.

Currently, the analyst consensus on 3M is a Moderate Buy with an average price target of $171.50.

Based on 3M’s latest earnings release for the quarter ending December 31, the company reported a quarterly revenue of $6.13 billion and a net profit of $577 million. In comparison, last year the company earned a revenue of $6.01 billion and had a net profit of $728 million

Based on the recent corporate insider activity of 63 insiders, corporate insider sentiment is negative on the stock. This means that over the past quarter there has been an increase of insiders selling their shares of MMM in relation to earlier this year. Earlier this month, Christian T JR Goralski, the Group President of MMM bought 15.00 shares for a total of $1,565.94.