Deutsche Bank Cuts Dell (NASDAQ:DELL) Price Target to $60.00

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Dell (NASDAQ:DELL) had its price objective reduced by Deutsche Bank from $62.00 to $60.00 in a report issued on Monday morning, The Fly reports. They currently have a buy rating on the technology company’s stock.

A number of other equities analysts also recently weighed in on DELL. UBS Group boosted their target price on Dell from $61.00 to $67.00 and gave the stock a neutral rating in a research note on Friday, May 31st. Citigroup boosted their target price on Dell from $70.00 to $85.00 and gave the stock a buy rating in a research note on Tuesday, May 21st. JPMorgan Chase & Co. boosted their target price on Dell from $77.00 to $80.00 and gave the stock an overweight rating in a research note on Tuesday, June 25th. Zacks Investment Research upgraded Dell from a sell rating to a hold rating in a research note on Wednesday, August 7th. Finally, Raymond James restated an outperform rating and issued a $69.00 target price (down previously from $74.00) on shares of Dell in a research note on Friday, May 31st. Six equities research analysts have rated the stock with a hold rating and eleven have assigned a buy rating to the company. Dell currently has an average rating of Buy and an average price target of $63.63.

DELL stock opened at $48.98 on Monday. Dell has a 52-week low of $42.02 and a 52-week high of $70.55. The business has a 50-day simple moving average of $52.77 and a two-hundred day simple moving average of $57.48. The company has a market capitalization of $34.80 billion, a P/E ratio of 7.94 and a beta of 0.47. The company has a debt-to-equity ratio of 2.81, a quick ratio of 0.82 and a current ratio of 0.90.

Dell (NASDAQ:DELL) last announced its earnings results on Thursday, May 30th. The technology company reported $1.45 earnings per share for the quarter, topping analysts’ consensus estimates of $1.15 by $0.30. Dell had a positive return on equity of 31.57% and a negative net margin of 2.84%. The firm had revenue of $21.91 billion for the quarter, compared to the consensus estimate of $22.24 billion. The business’s revenue was up 2.6% compared to the same quarter last year. As a group, sell-side analysts forecast that Dell will post 6.23 earnings per share for the current fiscal year.

In related news, Vice Chairman Jeffrey W. Clarke sold 303,753 shares of the company’s stock in a transaction that occurred on Thursday, June 27th. The stock was sold at an average price of $52.28, for a total value of $15,880,206.84. The transaction was disclosed in a filing with the SEC, which is available at this hyperlink. Also, insider Howard D. Elias sold 7,702 shares of the company’s stock in a transaction that occurred on Thursday, August 15th. The shares were sold at an average price of $46.74, for a total value of $359,991.48. The disclosure for this sale can be found here. In the last quarter, insiders sold 1,599,179 shares of company stock worth $83,688,997. 46.00% of the stock is owned by company insiders.

A number of institutional investors have recently bought and sold shares of the stock. Roman Butler Fullerton & Co. lifted its stake in Dell by 3.2% in the second quarter. Roman Butler Fullerton & Co. now owns 6,549 shares of the technology company’s stock valued at $333,000 after purchasing an additional 200 shares during the last quarter. Nomura Asset Management Co. Ltd. raised its holdings in Dell by 0.7% during the 2nd quarter. Nomura Asset Management Co. Ltd. now owns 29,215 shares of the technology company’s stock valued at $1,484,000 after acquiring an additional 210 shares during the period. Winslow Evans & Crocker Inc. raised its holdings in Dell by 3.6% during the 1st quarter. Winslow Evans & Crocker Inc. now owns 6,520 shares of the technology company’s stock valued at $384,000 after acquiring an additional 228 shares during the period. Commerce Bank raised its holdings in Dell by 2.3% during the 2nd quarter. Commerce Bank now owns 10,816 shares of the technology company’s stock valued at $549,000 after acquiring an additional 246 shares during the period. Finally, Reynders McVeigh Capital Management LLC raised its holdings in Dell by 5.7% during the 2nd quarter. Reynders McVeigh Capital Management LLC now owns 4,654 shares of the technology company’s stock valued at $236,000 after acquiring an additional 253 shares during the period. Institutional investors and hedge funds own 22.92% of the company’s stock.

Dell Company Profile

Dell Inc (Dell) is a global information technology company that offers its customers a range of solutions and services delivered directly by Dell and through other distribution channels. Dell is a holding company that conducts its business worldwide through its subsidiaries. The Company operates in four segments: Large Enterprise, Public, Small and Medium Business, and Consumer.

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