International Business Machines Corporation (NYSE:IBM) Downgraded by Vetr Inc. to “Hold”

International Business Machines Corporation (NYSE:IBM) was downgraded by equities research analysts at Vetr from a “buy” rating to a “hold” rating in a report issued on Monday, July 24th. They currently have a $150.68 price target on the technology company’s stock. Vetr‘s price objective indicates a potential upside of 7.86% from the company’s previous close.

IBM has been the topic of several other research reports. Jefferies Group LLC set a $135.00 price target on shares of International Business Machines Corporation and gave the stock a “sell” rating in a research note on Friday, May 19th. Drexel Hamilton reaffirmed a “buy” rating and set a $200.00 price target (down previously from $215.00) on shares of International Business Machines Corporation in a research note on Saturday, April 22nd. Stifel Nicolaus reaffirmed a “buy” rating and set a $182.00 price target on shares of International Business Machines Corporation in a research note on Friday, July 21st. Bank of America Corporation reaffirmed a “buy” rating and set a $180.00 price target (down previously from $185.00) on shares of International Business Machines Corporation in a research note on Wednesday, April 19th. Finally, TheStreet downgraded shares of International Business Machines Corporation to a “hold” rating in a research note on Friday, April 21st. Seven equities research analysts have rated the stock with a sell rating, eighteen have issued a hold rating and seven have given a buy rating to the company. The stock currently has a consensus rating of “Hold” and an average target price of $157.40.

Shares of International Business Machines Corporation (NYSE IBM) traded down 0.71% during mid-day trading on Monday, reaching $139.70. The company’s stock had a trading volume of 4,152,714 shares. The firm’s 50 day moving average price is $147.30 and its 200-day moving average price is $161.22. International Business Machines Corporation has a 1-year low of $139.58 and a 1-year high of $182.79. The company has a market capitalization of $130.19 billion, a price-to-earnings ratio of 11.59 and a beta of 0.97.

International Business Machines Corporation (NYSE:IBM) last released its quarterly earnings results on Tuesday, July 18th. The technology company reported $2.97 earnings per share (EPS) for the quarter, topping the Thomson Reuters’ consensus estimate of $2.74 by $0.23. International Business Machines Corporation had a net margin of 14.58% and a return on equity of 71.53%. The firm had revenue of $19.29 billion for the quarter, compared to the consensus estimate of $19.45 billion. During the same quarter in the previous year, the firm posted $2.95 EPS. The firm’s quarterly revenue was down 4.7% on a year-over-year basis. On average, analysts predict that International Business Machines Corporation will post $13.77 EPS for the current year.

ILLEGAL ACTIVITY NOTICE: This piece of content was first reported by BNB Daily and is owned by of BNB Daily. If you are reading this piece of content on another website, it was illegally copied and republished in violation of US and international copyright & trademark laws. The correct version of this piece of content can be viewed at https://www.baseball-news-blog.com/2017/08/19/international-business-machines-corporation-nyseibm-lowered-to-hold-at-vetr-inc-updated-updated-updated.html.

Several hedge funds have recently added to or reduced their stakes in the company. Intact Investment Management Inc. increased its stake in International Business Machines Corporation by 0.3% in the fourth quarter. Intact Investment Management Inc. now owns 109,750 shares of the technology company’s stock worth $18,217,000 after buying an additional 300 shares during the period. Scotia Capital Inc. increased its stake in International Business Machines Corporation by 14.8% in the fourth quarter. Scotia Capital Inc. now owns 78,637 shares of the technology company’s stock worth $13,058,000 after buying an additional 10,130 shares during the last quarter. AMF Pensionsforsakring AB increased its stake in International Business Machines Corporation by 186.6% in the fourth quarter. AMF Pensionsforsakring AB now owns 745,277 shares of the technology company’s stock worth $123,709,000 after buying an additional 485,195 shares during the last quarter. Guardian Capital Advisors LP increased its stake in International Business Machines Corporation by 0.4% in the fourth quarter. Guardian Capital Advisors LP now owns 18,398 shares of the technology company’s stock worth $3,104,000 after buying an additional 71 shares during the last quarter. Finally, Zurich Insurance Group Ltd FI increased its stake in International Business Machines Corporation by 5.2% in the fourth quarter. Zurich Insurance Group Ltd FI now owns 153,738 shares of the technology company’s stock worth $25,519,000 after buying an additional 7,585 shares during the last quarter. Institutional investors own 58.57% of the company’s stock.

International Business Machines Corporation Company Profile

International Business Machines Corporation (IBM) is a technology company. The Company operates through five segments: Cognitive Solutions, Global Business Services (GBS), Technology Services & Cloud Platforms, Systems and Global Financing. The Cognitive Solutions segment delivers a spectrum of capabilities, from descriptive, predictive and prescriptive analytics to cognitive systems.

To view Vetr’s full report, visit Vetr’s official website.

Analyst Recommendations for International Business Machines Corporation (NYSE:IBM)

Receive News & Ratings for International Business Machines Corporation Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for International Business Machines Corporation and related companies with MarketBeat.com's FREE daily email newsletter.

Latest News

Leave a Reply