International Business Machines (NYSE:IBM)‘s stock had its “neutral” rating reissued by analysts at Wedbush in a report released on Thursday, The Fly reports. They presently have a $185.00 price objective on the technology company’s stock, up from their prior price objective of $155.00. Wedbush’s price objective suggests a potential upside of 13.94% from the company’s previous close. Wedbush also issued estimates for International Business Machines’ Q4 2017 earnings at $5.17 EPS, Q4 2018 earnings at $5.14 EPS, FY2018 earnings at $13.92 EPS, Q4 2019 earnings at $5.28 EPS and FY2019 earnings at $14.35 EPS. The analysts noted that the move was a valuation call.
Other equities analysts have also recently issued reports about the company. Zacks Investment Research raised International Business Machines from a “sell” rating to a “hold” rating in a research note on Wednesday, January 10th. BMO Capital Markets reissued a “hold” rating and set a $175.00 target price on shares of International Business Machines in a research note on Thursday, January 11th. They noted that the move was a valuation call. UBS Group reissued a “neutral” rating and set a $160.00 target price (up from $152.00) on shares of International Business Machines in a research note on Wednesday, October 18th. Drexel Hamilton reissued a “buy” rating and set a $200.00 target price on shares of International Business Machines in a research note on Tuesday, October 17th. Finally, ValuEngine raised International Business Machines from a “hold” rating to a “buy” rating in a research note on Monday, October 2nd. Six research analysts have rated the stock with a sell rating, seventeen have given a hold rating and twelve have given a buy rating to the stock. The company currently has an average rating of “Hold” and an average target price of $164.09.
International Business Machines (NYSE IBM) traded down $6.75 on Thursday, hitting $162.37. The stock had a trading volume of 21,079,530 shares, compared to its average volume of 5,910,000. The company has a quick ratio of 1.36, a current ratio of 1.41 and a debt-to-equity ratio of 2.09. International Business Machines has a 52-week low of $139.13 and a 52-week high of $182.79. The stock has a market capitalization of $150,320.00, a PE ratio of 26.57, a PEG ratio of 2.37 and a beta of 0.94.
Institutional investors have recently added to or reduced their stakes in the business. Private Capital Management Inc. boosted its holdings in International Business Machines by 71.3% in the third quarter. Private Capital Management Inc. now owns 3,425 shares of the technology company’s stock worth $497,000 after acquiring an additional 1,425 shares in the last quarter. Convergence Investment Partners LLC boosted its holdings in International Business Machines by 3.2% in the second quarter. Convergence Investment Partners LLC now owns 16,170 shares of the technology company’s stock worth $2,488,000 after acquiring an additional 504 shares in the last quarter. Hourglass Capital LLC boosted its holdings in International Business Machines by 83.5% in the second quarter. Hourglass Capital LLC now owns 51,680 shares of the technology company’s stock worth $7,950,000 after acquiring an additional 23,510 shares in the last quarter. Flippin Bruce & Porter Inc. raised its stake in shares of International Business Machines by 6.2% in the second quarter. Flippin Bruce & Porter Inc. now owns 85,378 shares of the technology company’s stock worth $13,134,000 after purchasing an additional 4,956 shares during the last quarter. Finally, Intl Fcstone Inc. purchased a new position in shares of International Business Machines in the second quarter worth $1,116,000. 57.12% of the stock is currently owned by institutional investors and hedge funds.
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About International Business Machines
International Business Machines Corporation (IBM) is a technology company. The Company operates through five segments: Cognitive Solutions, Global Business Services (GBS), Technology Services & Cloud Platforms, Systems and Global Financing. The Cognitive Solutions segment delivers a spectrum of capabilities, from descriptive, predictive and prescriptive analytics to cognitive systems.
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