Tyco International Ltd. (JCI) Downgraded by Zacks Investment Research
Tyco International Ltd. (NYSE:JCI) was downgraded by Zacks Investment Research from a “strong-buy” rating to a “hold” rating in a research report issued on Tuesday.
According to Zacks, “Johnson Controls’ merger with Tyco has created a leading global multi-industrial company named Johnson Controls International plc. The combined company is expected to generate revenues of $30 billion annually. Johnson Controls expects market expansion, acquisitions and strategic contracts to improve its performance and boost earnings. However, currency headwinds and stiff competition are some concerns. Johnson Controls’ earnings estimates have inched down lately, albeit still significantly higher than 30 days ago. The company has a mostly positive record of earnings surprises in recent quarters.”
A number of other equities analysts also recently commented on JCI. TheStreet raised Tyco International from a “hold” rating to a “buy” rating in a research report on Thursday, July 21st. Credit Suisse Group AG restated a “buy” rating on shares of Tyco International in a research note on Saturday, July 9th. Robert W. Baird restated a “buy” rating on shares of Tyco International in a research note on Tuesday, June 28th. Morgan Stanley restated a “buy” rating on shares of Tyco International in a research note on Wednesday, June 15th. Finally, Vetr cut Tyco International from a “buy” rating to a “hold” rating and set a $44.50 target price for the company. in a research note on Monday, May 23rd. Seven investment analysts have rated the stock with a hold rating, nine have given a buy rating and two have issued a strong buy rating to the stock. Tyco International has an average rating of “Buy” and a consensus price target of $51.43.
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Shares of Tyco International (NYSE:JCI) traded down 0.554% during trading on Tuesday, reaching $43.955. 5,481,068 shares of the company traded hands. The company has a market capitalization of $28.03 billion, a price-to-earnings ratio of 43.649 and a beta of 1.11. Tyco International has a 1-year low of $31.73 and a 1-year high of $50.65. The stock’s 50 day moving average is $47.95 and its 200 day moving average is $44.92.
Tyco International (NYSE:JCI) last released its earnings results on Thursday, July 21st. The company reported $1.07 earnings per share for the quarter, beating the consensus estimate of $1.03 by $0.04. The company earned $9.50 billion during the quarter, compared to the consensus estimate of $9.62 billion. Tyco International had a return on equity of 20.59% and a net margin of 5.45%. Tyco International’s revenue was down 1.0% compared to the same quarter last year. During the same period in the previous year, the company posted $0.91 EPS. On average, analysts forecast that Tyco International will post $2.08 EPS for the current year.
In other Tyco International news, VP R Bruce Mcdonald sold 98,166 shares of the company’s stock in a transaction on Tuesday, August 23rd. The stock was sold at an average price of $44.95, for a total value of $4,412,561.70. Following the sale, the vice president now owns 100,766 shares of the company’s stock, valued at $4,529,431.70. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through the SEC website. 0.63% of the stock is owned by company insiders.
Several hedge funds have recently modified their holdings of JCI. Community Bank & Trust Waco Texas increased its position in Tyco International by 16.9% in the first quarter. Community Bank & Trust Waco Texas now owns 25,045 shares of the company’s stock valued at $976,000 after buying an additional 3,615 shares during the period. Mn Services Vermogensbeheer B.V. acquired a new position in Tyco International during the first quarter valued at $554,000. Aperio Group LLC increased its position in Tyco International by 12.3% in the first quarter. Aperio Group LLC now owns 311,043 shares of the company’s stock valued at $12,121,000 after buying an additional 34,036 shares during the period. Commonwealth Equity Services Inc increased its position in Tyco International by 16.6% in the first quarter. Commonwealth Equity Services Inc now owns 148,940 shares of the company’s stock valued at $5,804,000 after buying an additional 21,182 shares during the period. Finally, Telemus Capital LLC acquired a new position in Tyco International during the first quarter valued at $321,000. Institutional investors and hedge funds own 93.93% of the company’s stock.
About Tyco International
Johnson Controls, Inc is a technology company. The Company provides products, services and solutions to optimize energy and operational efficiencies of buildings; lead-acid automotive batteries and advanced batteries for hybrid and electric vehicles, and seating and interior systems for automobiles. The Company operates in two segments: Building Efficiency and Power Solutions.
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