Brink’s (NYSE:BCO) Sets New 12-Month High After Analyst Upgrade

Brink’s Company (The) (NYSE:BCO)’s share price hit a new 52-week high on Wednesday after Truist Financial raised their price target on the stock from $138.00 to $163.00. Truist Financial currently has a buy rating on the stock. Brink’s traded as high as $133.62 and last traded at $131.13, with a volume of 16436 shares trading hands. The stock had previously closed at $131.49.

Separately, Weiss Ratings upgraded Brink’s from a “hold (c+)” rating to a “buy (b-)” rating in a research note on Friday, October 24th. Two analysts have rated the stock with a Buy rating and one has issued a Hold rating to the stock. According to MarketBeat.com, the company currently has an average rating of “Moderate Buy” and an average target price of $163.00.

Insider Activity

In other news, insider Michael E. Sweeney sold 1,418 shares of Brink’s stock in a transaction on Monday, December 15th. The shares were sold at an average price of $119.50, for a total transaction of $169,451.00. Following the transaction, the insider owned 5,755 shares in the company, valued at approximately $687,722.50. The trade was a 19.77% decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. Insiders own 0.49% of the company’s stock.

Institutional Inflows and Outflows

A number of hedge funds and other institutional investors have recently made changes to their positions in the business. Advisory Services Network LLC acquired a new stake in Brink’s during the third quarter worth approximately $33,000. Mather Group LLC. bought a new position in shares of Brink’s during the 3rd quarter worth approximately $34,000. Caldwell Trust Co bought a new position in shares of Brink’s during the 2nd quarter worth approximately $27,000. Global Retirement Partners LLC acquired a new stake in shares of Brink’s during the 4th quarter worth approximately $39,000. Finally, Optiver Holding B.V. increased its stake in shares of Brink’s by 42.9% in the 3rd quarter. Optiver Holding B.V. now owns 353 shares of the business services provider’s stock valued at $41,000 after acquiring an additional 106 shares in the last quarter. 94.96% of the stock is owned by institutional investors and hedge funds.

Brink’s Stock Down 1.3%

The company has a debt-to-equity ratio of 9.14, a quick ratio of 1.46 and a current ratio of 1.46. The firm’s 50 day moving average price is $122.60 and its two-hundred day moving average price is $114.96. The company has a market cap of $5.36 billion, a P/E ratio of 32.99 and a beta of 1.09.

Brink’s Announces Dividend

The company also recently announced a quarterly dividend, which will be paid on Monday, March 2nd. Stockholders of record on Monday, February 2nd will be paid a $0.255 dividend. The ex-dividend date is Monday, February 2nd. This represents a $1.02 annualized dividend and a dividend yield of 0.8%. Brink’s’s dividend payout ratio (DPR) is currently 26.09%.

Brink’s announced that its Board of Directors has approved a share repurchase plan on Thursday, December 11th that permits the company to repurchase $750.00 million in shares. This repurchase authorization permits the business services provider to repurchase up to 15.4% of its shares through open market purchases. Shares repurchase plans are often a sign that the company’s board of directors believes its stock is undervalued.

About Brink’s

The Brink’s Company (NYSE: BCO) is a global leader in secure logistics and cash management solutions. The company provides a comprehensive suite of services that span armored transportation, cash-in-transit (CIT), ATM services, smart safe solutions, and valuables storage. Through its network of service centers and armored vehicles, Brink’s ensures the safe and efficient movement of currency, precious metals, and other high-value assets for banks, retailers, mints, and government agencies.

Brink’s armored transport operations are complemented by technology-driven cash management offerings, including deposit automation and secure vaulting.