Zacks Investment Research Upgrades Brink's (BCO) to Buy
Brink's (NYSE:BCO) was upgraded by Zacks Investment Research from a “hold” rating to a “buy” rating in a research report issued to clients and investors on Monday. The firm presently has a $97.00 price target on the business services provider’s stock. Zacks Investment Research‘s target price would suggest a potential upside of 15.75% from the company’s current price.
According to Zacks, “The Brink’s Company provides secure transportation, cash management services, and other security-related services worldwide. The company offers cash-in-transit services, including armoured vehicle transportation of valuables; automated teller machine (ATM) services, such as cash replenishment, replenishment forecasting, cash optimization, ATM remote monitoring, service call dispatching, transaction processing, installation services, and first and second line maintenance; and network infrastructure services. It also provides transportation services for valued commodities, including diamonds, jewellery, precious metals, securities, currency, high-tech devices, electronics, and pharmaceuticals; and cash management services, such as money processing, deploying and servicing intelligent safes and safe control devices, integrated check and cash processing services, and check imaging services, as well as cashier balancing, counterfeit detection, account consolidation, and electronic reporting services. “
Several other research firms have also recently weighed in on BCO. SunTrust Banks restated a “buy” rating and issued a $98.00 price objective on shares of Brink's in a research report on Wednesday, October 18th. Sidoti assumed coverage on shares of Brink's in a research report on Friday, October 20th. They issued a “buy” rating for the company. Finally, ValuEngine cut shares of Brink's from a “buy” rating to a “hold” rating in a research report on Monday, October 2nd. One research analyst has rated the stock with a hold rating and four have assigned a buy rating to the stock. The company currently has a consensus rating of “Buy” and a consensus price target of $93.75.
Brink's (NYSE:BCO) last posted its quarterly earnings data on Wednesday, October 25th. The business services provider reported $0.83 earnings per share for the quarter, topping the consensus estimate of $0.75 by $0.08. Brink's had a net margin of 2.51% and a return on equity of 35.15%. The firm had revenue of $849.50 million during the quarter, compared to analysts’ expectations of $841.57 million. During the same quarter in the previous year, the company posted $0.64 EPS. Brink's’s revenue was up 12.4% on a year-over-year basis. equities research analysts anticipate that Brink's will post 3.05 earnings per share for the current year.
In other Brink's news, CEO Douglas A. Pertz bought 1,280 shares of the company’s stock in a transaction on Thursday, October 26th. The stock was bought at an average price of $78.00 per share, for a total transaction of $99,840.00. The purchase was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. Also, CFO Ronald James Domanico purchased 3,000 shares of the firm’s stock in a transaction dated Thursday, October 26th. The stock was purchased at an average cost of $77.49 per share, with a total value of $232,470.00. The disclosure for this purchase can be found here. Insiders have acquired a total of 18,850 shares of company stock valued at $1,461,348 in the last quarter. Corporate insiders own 10.40% of the company’s stock.
Several hedge funds have recently made changes to their positions in BCO. SG Americas Securities LLC acquired a new position in shares of Brink's in the 2nd quarter valued at $253,000. Zurcher Kantonalbank Zurich Cantonalbank grew its holdings in shares of Brink's by 93.6% in the 2nd quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 2,313 shares of the business services provider’s stock valued at $155,000 after buying an additional 1,118 shares during the period. Swiss National Bank grew its holdings in shares of Brink's by 1.8% in the 2nd quarter. Swiss National Bank now owns 75,500 shares of the business services provider’s stock valued at $5,059,000 after buying an additional 1,300 shares during the period. CIBC World Markets Inc. acquired a new position in shares of Brink's in the 2nd quarter valued at $653,000. Finally, Riverhead Capital Management LLC grew its holdings in shares of Brink's by 51.8% in the 2nd quarter. Riverhead Capital Management LLC now owns 2,429 shares of the business services provider’s stock valued at $163,000 after buying an additional 829 shares during the period. 90.55% of the stock is owned by institutional investors.
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Brink's Company Profile
The Brink’s Company (Brink’s) is a provider of logistics and security solutions. The Company operates through nine segments: U.S., France, Mexico, Brazil, Canada, Latin America, EMEA, Asia and Payment Services. The Company’s solutions include cash-in-transit (CIT), automated teller machine (ATM) replenishment and maintenance, cash management services, including vault outsourcing, money processing, and intelligent safe services, international transportation of valuables, and payment services.
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