Wolfe Research Forecasts Strong Price Appreciation for 3M (NYSE:MMM) Stock

3M (NYSE:MMM) had its target price boosted by equities research analysts at Wolfe Research from $196.00 to $205.00 in a research report issued on Friday,MarketScreener reports. The firm presently has an “outperform” rating on the conglomerate’s stock. Wolfe Research’s price target indicates a potential upside of 24.43% from the company’s previous close.

A number of other equities research analysts have also recently issued reports on the company. Royal Bank Of Canada upped their target price on 3M from $131.00 to $136.00 and gave the stock an “underperform” rating in a research report on Wednesday, January 21st. Morgan Stanley upped their price objective on shares of 3M from $160.00 to $165.00 and gave the stock an “equal weight” rating in a report on Wednesday, January 21st. Deutsche Bank Aktiengesellschaft boosted their target price on shares of 3M from $179.00 to $181.00 and gave the stock a “hold” rating in a research report on Wednesday, January 21st. JPMorgan Chase & Co. reiterated a “neutral” rating and issued a $182.00 price objective on shares of 3M in a research note on Friday, January 16th. Finally, Barclays raised their target price on 3M from $180.00 to $190.00 and gave the company an “overweight” rating in a report on Thursday, December 4th. Five analysts have rated the stock with a Buy rating, five have issued a Hold rating and one has given a Sell rating to the stock. According to MarketBeat.com, 3M currently has a consensus rating of “Hold” and a consensus price target of $176.18.

3M Trading Down 0.9%

NYSE:MMM opened at $164.75 on Friday. The stock has a market cap of $86.77 billion, a PE ratio of 27.46, a price-to-earnings-growth ratio of 2.32 and a beta of 1.09. 3M has a fifty-two week low of $121.98 and a fifty-two week high of $177.41. The company has a debt-to-equity ratio of 2.30, a current ratio of 1.71 and a quick ratio of 1.33. The stock’s 50-day moving average is $164.01 and its two-hundred day moving average is $161.81.

3M (NYSE:MMM) last posted its quarterly earnings results on Tuesday, January 20th. The conglomerate reported $1.83 EPS for the quarter, topping the consensus estimate of $1.80 by $0.03. The business had revenue of $6 billion during the quarter, compared to analysts’ expectations of $6.03 billion. 3M had a net margin of 13.03% and a return on equity of 95.36%. The firm’s quarterly revenue was up 1.5% compared to the same quarter last year. During the same period last year, the company posted $1.68 earnings per share. 3M has set its FY 2026 guidance at 8.50-8.700 EPS. As a group, equities research analysts forecast that 3M will post 7.8 earnings per share for the current fiscal year.

Insiders Place Their Bets

In related news, CAO Theresa E. Reinseth sold 5,145 shares of the stock in a transaction that occurred on Wednesday, February 11th. The stock was sold at an average price of $172.75, for a total transaction of $888,798.75. Following the completion of the sale, the chief accounting officer directly owned 2,585 shares of the company’s stock, valued at approximately $446,558.75. This represents a 66.56% decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Corporate insiders own 0.34% of the company’s stock.

Institutional Investors Weigh In On 3M

A number of hedge funds and other institutional investors have recently bought and sold shares of MMM. Commonwealth Retirement Investments LLC bought a new position in 3M in the fourth quarter valued at approximately $28,000. J.Safra Asset Management Corp acquired a new position in 3M during the third quarter worth $34,000. Westside Investment Management Inc. raised its position in 3M by 77.4% during the third quarter. Westside Investment Management Inc. now owns 243 shares of the conglomerate’s stock worth $38,000 after acquiring an additional 106 shares in the last quarter. EQ Wealth Advisors LLC acquired a new stake in 3M in the fourth quarter valued at $40,000. Finally, Sfam LLC acquired a new position in shares of 3M during the 4th quarter worth about $45,000. Institutional investors and hedge funds own 65.25% of the company’s stock.

3M Company Profile

3M Company, originally founded in 1902 as the Minnesota Mining and Manufacturing Company, is a diversified global technology and manufacturing firm headquartered in St. Paul, Minnesota. Over its history the company has expanded from mineral mining into a broad portfolio of industrial, safety, healthcare and consumer products, building a reputation for applied science and product innovation across many end markets.

3M’s businesses span a wide range of product categories including adhesives and tapes, abrasives, filtration and separation technologies, personal protective equipment such as respirators, medical and dental products, industrial and automotive solutions, and a suite of consumer brands (for example, well-known office and home products).