Brink’s (NYSE:BCO) Price Target Raised to $163.00

Brink’s (NYSE:BCO) had its target price boosted by Truist Financial from $138.00 to $163.00 in a research note issued to investors on Tuesday morning, MarketBeat reports. Truist Financial currently has a buy rating on the business services provider’s stock.

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

Brink’s Price Performance

Shares of BCO opened at $129.00 on Tuesday. The company has a debt-to-equity ratio of 9.14, a current ratio of 1.46 and a quick ratio of 1.46. Brink’s has a 1-year low of $80.10 and a 1-year high of $133.62. The stock has a market cap of $5.36 billion, a PE ratio of 32.99 and a beta of 1.09. The firm has a fifty day moving average price of $122.60 and a 200 day moving average price of $114.96.

Brink’s declared that its Board of Directors has approved a share buyback program on Thursday, December 11th that permits the company to buyback $750.00 million in shares. This buyback authorization permits the business services provider to buy up to 15.4% of its stock through open market purchases. Stock buyback programs are generally an indication that the company’s board believes its shares are undervalued.

Brink’s Dividend Announcement

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

Insider Buying and Selling at Brink’s

In related news, insider Michael E. Sweeney sold 1,418 shares of the stock in a transaction dated Monday, December 15th. The shares were 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 of the company’s stock, valued at $687,722.50. This represents a 19.77% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is available at this link. 0.49% of the stock is currently owned by insiders.

Hedge Funds Weigh In On Brink’s

Large investors have recently modified their holdings of the business. Vanguard Group Inc. lifted its holdings in shares of Brink’s by 2.3% in the 4th quarter. Vanguard Group Inc. now owns 4,129,187 shares of the business services provider’s stock valued at $482,000,000 after buying an additional 94,634 shares during the period. American Century Companies Inc. raised its position in Brink’s by 8.2% in the second quarter. American Century Companies Inc. now owns 1,650,856 shares of the business services provider’s stock worth $147,405,000 after acquiring an additional 125,757 shares in the last quarter. LSV Asset Management lifted its holdings in Brink’s by 5.5% in the fourth quarter. LSV Asset Management now owns 1,325,075 shares of the business services provider’s stock valued at $154,676,000 after acquiring an additional 68,690 shares during the period. Dimensional Fund Advisors LP boosted its position in shares of Brink’s by 0.5% during the 4th quarter. Dimensional Fund Advisors LP now owns 879,446 shares of the business services provider’s stock worth $102,662,000 after purchasing an additional 4,119 shares in the last quarter. Finally, Boston Partners grew its stake in shares of Brink’s by 10.9% during the 3rd quarter. Boston Partners now owns 607,908 shares of the business services provider’s stock worth $70,922,000 after purchasing an additional 59,542 shares during the period. 94.96% of the stock is owned by hedge funds and other institutional investors.

Brink’s Company Profile

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.