TheStreet Reiterates “Buy” Rating for International Business Machines Corp. (IBM)
International Business Machines Corp. (NYSE:IBM)‘s stock had its “buy” rating restated by analysts at TheStreet in a research report issued to clients and investors on Tuesday, Analyst Ratings Net reports.
The analysts wrote, “International Business Machines (IBM) has been reiterated by TheStreet Ratings as a buy with a ratings score of B. The company’s strengths can be seen in multiple areas, such as its notable return on equity and expanding profit margins. We feel these strengths outweigh the fact that the company has had sub par growth in net income.”
IBM has been the subject of a number of other recent research reports. Analysts at Barclays Capital downgraded shares of International Business Machines Corp. from an “overweight” rating to an “equal weight” rating in a research note to investors on Monday. They now have a $190.00 price target on the stock, down previously from $215.00. Separately, analysts at Cantor Fitzgerald initiated coverage on shares of International Business Machines Corp. in a research note to investors on Thursday, September 19th. They set a “buy” rating and a $220.00 price target on the stock. Finally, analysts at Zacks reiterated a “neutral” rating on shares of International Business Machines Corp. in a research note to investors on Monday, September 16th. They now have a $202.00 price target on the stock. Two analysts have rated the stock with a sell rating, twelve have given a hold rating, nine have assigned a buy rating and one has assigned a strong buy rating to the stock. The stock currently has a consensus rating of “Hold” and an average price target of $216.67.
International Business Machines Corp. (NYSE:IBM) traded down 0.92% on Tuesday, hitting $180.3445. 1,973,945 shares of the company’s stock traded hands. International Business Machines Corp. has a 52 week low of $181.10 and a 52 week high of $215.90. The stock has a 50-day moving average of $186.7 and a 200-day moving average of $196.9. The company has a market cap of $197.6 billion and a P/E ratio of 12.92. International Business Machines Corp. also was the recipient of unusually large options trading on Monday. Stock investors bought 18,664 put options on the company. This represents an increase of approximately 109% compared to the average volume of 8,924 put options.
International Business Machines Corp. (NYSE:IBM) last posted its quarterly earnings results on Wednesday, July 17th. The company reported $3.91 EPS for the quarter, beating the Thomson Reuters consensus estimate of $3.77 by $0.14. The company had revenue of $24.92 billion for the quarter, compared to the consensus estimate of $25.39 billion. During the same quarter in the prior year, the company posted $3.51 earnings per share. The company’s quarterly revenue was down 3.3% on a year-over-year basis.
International Business Machines Corporation (NYSE:IBM) is an information technology (IT) company.
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