International Business Machines (NYSE:IBM) Price Target Lowered to $190.00 at BMO Capital Markets

International Business Machines (NYSE:IBM) had its price target dropped by investment analysts at BMO Capital Markets from $210.00 to $190.00 in a report released on Thursday, Benzinga reports. The firm presently has a “market perform” rating on the technology company’s stock. BMO Capital Markets’ target price would suggest a potential upside of 11.85% from the stock’s previous close.

Other research analysts have also issued reports about the stock. Jefferies Financial Group decreased their price target on shares of International Business Machines from $215.00 to $210.00 and set a “hold” rating for the company in a research note on Tuesday. Societe Generale reiterated a “sell” rating and issued a $143.00 price target on shares of International Business Machines in a research note on Friday, January 5th. Wedbush increased their price objective on shares of International Business Machines from $140.00 to $160.00 and gave the company a “neutral” rating in a research report on Thursday. Royal Bank of Canada increased their price objective on shares of International Business Machines from $179.00 to $200.00 and gave the company an “outperform” rating in a research report on Thursday, January 25th. Finally, Evercore ISI raised shares of International Business Machines from an “in-line” rating to an “outperform” rating and increased their price objective for the company from $165.00 to $200.00 in a research report on Friday, January 19th. Two research analysts have rated the stock with a sell rating, seven have given a hold rating and five have given a buy rating to the company. Based on data from MarketBeat, International Business Machines currently has an average rating of “Hold” and a consensus price target of $177.23.

International Business Machines Trading Down 7.7 %

International Business Machines stock traded down $14.23 during mid-day trading on Thursday, reaching $169.87. 12,173,001 shares of the company traded hands, compared to its average volume of 4,897,313. The company has a debt-to-equity ratio of 2.22, a current ratio of 0.96 and a quick ratio of 0.93. The firm’s 50 day moving average price is $188.36 and its 200 day moving average price is $169.98. The firm has a market capitalization of $155.73 billion, a price-to-earnings ratio of 20.63, a P/E/G ratio of 3.58 and a beta of 0.70. International Business Machines has a 52-week low of $120.55 and a 52-week high of $199.18.

International Business Machines (NYSE:IBM) last issued its quarterly earnings results on Wednesday, April 24th. The technology company reported $1.68 earnings per share (EPS) for the quarter, topping the consensus estimate of $1.59 by $0.09. The company had revenue of $14.46 billion during the quarter, compared to analyst estimates of $14.53 billion. International Business Machines had a net margin of 12.13% and a return on equity of 39.55%. International Business Machines’s quarterly revenue was up 1.5% compared to the same quarter last year. During the same period last year, the business earned $1.36 EPS. On average, analysts anticipate that International Business Machines will post 10.04 earnings per share for the current fiscal year.

Hedge Funds Weigh In On International Business Machines

Several institutional investors have recently made changes to their positions in IBM. Benedict Financial Advisors Inc. raised its stake in International Business Machines by 19.9% during the 1st quarter. Benedict Financial Advisors Inc. now owns 1,642 shares of the technology company’s stock worth $314,000 after acquiring an additional 273 shares during the period. Fjarde AP Fonden Fourth Swedish National Pension Fund raised its stake in International Business Machines by 2.3% during the 1st quarter. Fjarde AP Fonden Fourth Swedish National Pension Fund now owns 279,581 shares of the technology company’s stock worth $53,389,000 after acquiring an additional 6,355 shares during the period. Argus Investors Counsel Inc. bought a new stake in International Business Machines during the 1st quarter worth approximately $207,000. Cambridge Investment Research Advisors Inc. raised its stake in International Business Machines by 5.6% during the 1st quarter. Cambridge Investment Research Advisors Inc. now owns 244,224 shares of the technology company’s stock worth $46,637,000 after acquiring an additional 12,877 shares during the period. Finally, Private Trust Co. NA raised its stake in International Business Machines by 4.2% during the 1st quarter. Private Trust Co. NA now owns 12,554 shares of the technology company’s stock worth $2,397,000 after acquiring an additional 502 shares during the period. Institutional investors own 58.96% of the company’s stock.

International Business Machines Company Profile

International Business Machines Corporation, together with its subsidiaries, provides integrated solutions and services worldwide. The company operates through Software, Consulting, Infrastructure, and Financing segments. The Software segment offers a hybrid cloud and AI platforms that allows clients to realize their digital and AI transformations across the applications, data, and environments in which they operate.