NCR Co. (NCR) Raised to “Buy” at Zacks Investment Research
NCR Co. (NYSE:NCR) was upgraded by Zacks Investment Research from a “hold” rating to a “buy” rating in a report released on Tuesday. The brokerage currently has a $45.00 target price on the information technology services provider’s stock. Zacks Investment Research‘s price target indicates a potential upside of 11.33% from the company’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.”
Several other equities analysts have also recently issued reports on NCR. Royal Bank of Canada reiterated a “buy” rating and issued a $51.00 price objective on shares of NCR in a research note on Friday, May 12th. Oppenheimer Holdings Inc. upgraded NCR from a “market perform” rating to an “outperform” rating and set a $51.00 price objective for the company in a research note on Thursday, March 16th. Benchmark Co. assumed coverage on NCR in a research note 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 research note on Thursday, March 16th. Finally, Citigroup Inc upgraded NCR to an “outperform” rating and set a $51.00 price objective for the company in a research note on Thursday, March 16th. One research analyst has rated the stock with a hold rating and seven have assigned a buy rating to the stock. NCR currently has an average rating of “Buy” and an average price target of $46.29.
Shares of NCR (NYSE:NCR) traded down 1.95% during trading on Tuesday, reaching $39.63. 512,296 shares of the company’s stock were exchanged. The stock has a 50-day moving average price of $41.40 and a 200 day moving average price of $42.84. The company has a market capitalization of $4.81 billion, a P/E ratio of 27.73 and a beta of 1.82. NCR has a 12-month low of $25.20 and a 12-month high of $49.90.
NCR (NYSE:NCR) last announced its quarterly earnings data on Thursday, April 20th. The information technology services provider reported $0.56 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.46 by $0.10. The business had revenue of $1.48 billion during the quarter, compared to analysts’ expectations of $1.46 billion. NCR had a negative return on equity of 11.13% and a net margin of 3.86%. The business’s quarterly revenue was up 2.4% compared to the same quarter last year. During the same quarter last year, the business posted $0.38 EPS. Equities analysts expect that NCR will post $3.37 EPS for the current fiscal year.
In related news, EVP J. Robert Ciminera sold 3,086 shares of the business’s stock in a transaction that occurred on Tuesday, May 2nd. The stock was sold at an average price of $42.48, for a total transaction of $131,093.28. Following the completion of the sale, the executive vice president now owns 9,888 shares in the company, valued at $420,042.24. The transaction was disclosed in a document filed with the SEC, which is available through the SEC website. Also, major shareholder Holdings L.P. Blackstone III sold 3,002,753 shares of NCR stock in a transaction that occurred on Friday, March 17th. The stock was sold at an average price of $48.47, for a total value of $145,543,437.91. The disclosure for this sale can be found here. 1.20% of the stock is owned by insiders.
A number of hedge funds and other institutional investors have recently added to or reduced their stakes in the company. BB&T Securities purchased a new position in NCR during the fourth quarter valued at approximately $256,000. BlackRock Fund Advisors raised its position in NCR by 3.7% in the third quarter. BlackRock Fund Advisors now owns 4,463,695 shares of the information technology services provider’s stock valued at $143,686,000 after buying an additional 158,249 shares during the period. Rhumbline Advisers raised its position in NCR by 2.9% in the third quarter. Rhumbline Advisers now owns 261,391 shares of the information technology services provider’s stock valued at $8,414,000 after buying an additional 7,339 shares during the period. Great West Life Assurance Co. Can raised its position in NCR by 2.7% in the third quarter. Great West Life Assurance Co. Can now owns 2,024,489 shares of the information technology services provider’s stock valued at $65,088,000 after buying an additional 52,715 shares during the period. Finally, NorthCoast Asset Management LLC raised its position in NCR by 12.0% in the third quarter. NorthCoast Asset Management LLC now owns 92,042 shares of the information technology services provider’s stock valued at $2,963,000 after buying an additional 9,848 shares during the period. 81.73% of the stock is currently owned by institutional investors.
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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