NCR Co. (NCR) Stock Rating Upgraded by Zacks Investment Research
NCR Co. (NYSE:NCR) was upgraded by Zacks Investment Research from a “hold” rating to a “buy” rating in a research note issued on Tuesday. The firm presently has a $45.00 price target on the information technology services provider’s stock. Zacks Investment Research‘s price objective would suggest a potential upside of 11.80% from the stock’s previous close.
According to Zacks, “NCR is one of the world’s leading consumer transaction technology providers. The stock has outperformed the broader sector over the last one year. We believe, NCR’s growing exposure in the self-service kiosk space is encouraging, given the tremendous growth prospects. The company has also been the global leader in self-service ATMs for several years in terms of market share. NCR remains the largest supplier of ATM machines in Asia-Pacific and North America while maintaining its leadership in the Asian and European markets. By 2020, RBR Research expects India to install base similar to the size of the U.S., trailing only China. This creates huge opportunities for companies like NCR. Going ahead, continuous product launches, growing popularity of its self-service offerings and synergies from acquisitions are the catalysts. However, intense competition from peers and a high debt burden remain concerns.”
A number of other research firms also recently weighed in on NCR. Royal Bank of Canada restated a “buy” rating and issued a $51.00 price objective on shares of NCR in a report on Wednesday, April 12th. Benchmark Co. started coverage on NCR in a report on Thursday, April 13th. They issued a “buy” rating and a $55.00 price objective for the company. CIBC upgraded NCR from a “market perform” rating to an “outperform” rating in a report on Thursday, March 16th. Oppenheimer Holdings Inc. upgraded NCR from a “market perform” rating to an “outperform” rating and set a $51.00 price target for the company in a report on Thursday, March 16th. Finally, Citigroup Inc upgraded NCR to an “outperform” rating and set a $51.00 price target for the company in a report on Thursday, March 16th. One equities research analyst has rated the stock with a hold rating and seven have issued a buy rating to the stock. The company currently has a consensus rating of “Buy” and a consensus target price of $46.29.
NCR (NYSE:NCR) traded up 0.72% during midday trading on Tuesday, hitting $40.54. The stock had a trading volume of 277,786 shares. The stock has a market cap of $4.92 billion, a price-to-earnings ratio of 28.37 and a beta of 1.82. NCR has a 1-year low of $25.20 and a 1-year high of $49.90. The company has a 50-day moving average of $42.44 and a 200-day moving average of $42.57.
NCR (NYSE:NCR) last announced its quarterly earnings results on Thursday, April 20th. The information technology services provider reported $0.56 EPS for the quarter, beating the Zacks’ consensus estimate of $0.46 by $0.10. NCR had a return on equity of 76.86% and a net margin of 4.13%. The company had revenue of $1.48 billion during the quarter, compared to analysts’ expectations of $1.46 billion. During the same period in the prior year, the company earned $0.38 EPS. NCR’s revenue was up 2.4% compared to the same quarter last year. Equities research analysts forecast that NCR will post $3.37 EPS for the current year.
In other news, major shareholder Holdings L.P. Blackstone III sold 3,002,753 shares of the firm’s stock in a transaction that occurred on Friday, March 17th. The shares were sold at an average price of $48.47, for a total transaction of $145,543,437.91. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this hyperlink. Also, EVP Frederick Marquardt sold 5,852 shares of the firm’s stock in a transaction that occurred on Monday, February 27th. The stock was sold at an average price of $49.06, for a total transaction of $287,099.12. Following the sale, the executive vice president now owns 83,344 shares of the company’s stock, valued at approximately $4,088,856.64. The disclosure for this sale can be found here. In the last three months, insiders have sold 3,014,479 shares of company stock worth $146,094,674. Insiders own 1.20% of the company’s stock.
Hedge funds and other institutional investors have recently added to or reduced their stakes in the stock. Punch & Associates Investment Management Inc. raised its position in NCR by 1.0% in the third quarter. Punch & Associates Investment Management Inc. now owns 80,672 shares of the information technology services provider’s stock worth $2,597,000 after buying an additional 793 shares in the last quarter. Private Harbour Investment Management & Counsel LLC acquired a new position in NCR during the third quarter worth $717,000. LSV Asset Management raised its position in NCR by 0.7% in the third quarter. LSV Asset Management now owns 6,173,178 shares of the information technology services provider’s stock worth $198,714,000 after buying an additional 40,100 shares during the period. Northern Trust Corp raised its position in NCR by 4.1% in the third quarter. Northern Trust Corp now owns 1,219,226 shares of the information technology services provider’s stock worth $39,247,000 after buying an additional 48,291 shares during the period. Finally, Principal Financial Group Inc. raised its position in NCR by 4.1% in the third quarter. Principal Financial Group Inc. now owns 495,942 shares of the information technology services provider’s stock worth $15,965,000 after buying an additional 19,575 shares during the period. Institutional investors and hedge funds own 81.73% of the company’s stock.
NCR Company Profile
NCR Corporation is a provider of Omni-channel technology solutions that enable businesses connect, interact and transact with their customers. The Company operates through three segments: Software, Services and Hardware. It sells a portfolio of hardware, software and services that combine to provide businesses with solutions.
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