Brink’s (NYSE:BCO) Price Target Raised to $145.00

Brink’s (NYSE:BCO) had its price target increased by The Goldman Sachs Group from $129.00 to $145.00 in a report released on Monday,Benzinga reports. They currently have a buy rating on the business services provider’s stock.

Separately, Truist Financial raised their price target on shares of Brink’s from $138.00 to $163.00 and gave the stock a “buy” rating in a research report on Tuesday, February 10th. Three research analysts have rated the stock with a Buy rating and one has issued a Hold rating to the company. According to data from MarketBeat.com, the company currently has an average rating of “Moderate Buy” and a consensus target price of $154.00.

Brink’s Stock Down 1.5%

NYSE BCO opened at $123.89 on Monday. The stock has a market cap of $5.10 billion, a PE ratio of 26.42 and a beta of 1.09. The business has a 50 day moving average price of $125.37 and a two-hundred day moving average price of $118.00. Brink’s has a fifty-two week low of $80.10 and a fifty-two week high of $136.37. The company has a quick ratio of 1.51, a current ratio of 1.51 and a debt-to-equity ratio of 9.35.

Brink’s (NYSE:BCO) last posted its earnings results on Thursday, February 26th. The business services provider reported $2.54 EPS for the quarter, topping analysts’ consensus estimates of $2.47 by $0.07. The business had revenue of $1.38 billion for the quarter, compared to analysts’ expectations of $1.35 billion. Brink’s had a net margin of 3.80% and a return on equity of 89.90%. The business’s revenue for the quarter was up 9.1% compared to the same quarter last year. During the same period in the previous year, the company posted $2.12 earnings per share. As a group, sell-side analysts predict that Brink’s will post 6.49 EPS for the current fiscal year.

Brink’s declared that its Board of Directors has initiated a share buyback program on Thursday, December 11th that allows the company to repurchase $750.00 million in outstanding shares. This repurchase authorization allows the business services provider to buy up to 15.4% of its shares through open market purchases. Shares repurchase programs are usually a sign that the company’s leadership believes its stock is undervalued.

Brink’s Announces Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Monday, March 2nd. Investors of record on Monday, February 2nd were paid a dividend of $0.255 per share. The ex-dividend date was Monday, February 2nd. This represents a $1.02 annualized dividend and a yield of 0.8%. Brink’s’s dividend payout ratio is 21.75%.

Insider Buying and Selling

In related news, insider Michael E. Sweeney sold 1,418 shares of the company’s stock in a transaction on Monday, December 15th. The stock was sold at an average price of $119.50, for a total transaction of $169,451.00. Following the completion of the transaction, the insider directly owned 5,755 shares in the company, valued at $687,722.50. This represents a 19.77% decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. 0.49% of the stock is currently owned by insiders.

Hedge Funds Weigh In On Brink’s

Several institutional investors have recently modified their holdings of the company. Royal Bank of Canada boosted its stake in Brink’s by 10.9% during the 1st quarter. Royal Bank of Canada now owns 54,678 shares of the business services provider’s stock valued at $4,711,000 after purchasing an additional 5,359 shares during the period. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. lifted its holdings in shares of Brink’s by 3.4% in the first quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 26,098 shares of the business services provider’s stock valued at $2,249,000 after buying an additional 852 shares during the period. United Services Automobile Association bought a new position in Brink’s during the first quarter valued at about $257,000. CWM LLC grew its holdings in Brink’s by 53.8% during the second quarter. CWM LLC now owns 512 shares of the business services provider’s stock worth $46,000 after acquiring an additional 179 shares during the period. Finally, Teacher Retirement System of Texas raised its position in Brink’s by 2.9% in the second quarter. Teacher Retirement System of Texas now owns 6,567 shares of the business services provider’s stock worth $586,000 after acquiring an additional 182 shares in the last quarter. Institutional investors own 94.96% of the company’s stock.

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.