International Business Machines (NYSE:IBM) PT Raised to $260.00

International Business Machines (NYSE:IBM) had its price objective upped by research analysts at BMO Capital Markets from $235.00 to $260.00 in a report issued on Thursday, Benzinga reports. The brokerage currently has a “market perform” rating on the technology company’s stock. BMO Capital Markets’ price target indicates a potential upside of 21.17% from the stock’s current price.

A number of other brokerages have also recently weighed in on IBM. Royal Bank of Canada upped their price objective on International Business Machines from $211.00 to $250.00 and gave the stock an “outperform” rating in a research note on Thursday, October 10th. Stifel Nicolaus raised their price target on shares of International Business Machines from $205.00 to $246.00 and gave the company a “buy” rating in a report on Wednesday, October 16th. Hsbc Global Res raised shares of International Business Machines to a “moderate sell” rating in a research report on Friday, July 26th. Bernstein Bank lifted their price target on shares of International Business Machines from $185.00 to $210.00 and gave the stock a “market perform” rating in a report on Thursday, October 3rd. Finally, DZ Bank lowered International Business Machines from a “buy” rating to a “hold” rating and set a $215.00 price objective for the company. in a report on Wednesday, October 2nd. Three analysts have rated the stock with a sell rating, nine have assigned a hold rating and six have assigned a buy rating to the stock. According to data from MarketBeat, the stock currently has an average rating of “Hold” and an average target price of $208.12.

International Business Machines Stock Down 1.7 %

Shares of International Business Machines stock opened at $214.57 on Thursday. International Business Machines has a 1 year low of $141.58 and a 1 year high of $237.37. The company has a debt-to-equity ratio of 2.20, a current ratio of 1.12 and a quick ratio of 1.08. The stock has a market cap of $197.65 billion, a price-to-earnings ratio of 23.66, a PEG ratio of 4.84 and a beta of 0.70. The firm’s 50-day moving average is $215.16 and its two-hundred day moving average is $190.25.

International Business Machines (NYSE:IBM) last issued its quarterly earnings data on Wednesday, October 23rd. The technology company reported $2.30 earnings per share (EPS) for the quarter, beating the consensus estimate of $2.27 by $0.03. The company had revenue of $14.97 billion for the quarter, compared to analyst estimates of $15.08 billion. International Business Machines had a net margin of 13.52% and a return on equity of 40.59%. International Business Machines’s revenue was up 1.5% compared to the same quarter last year. During the same period last year, the company posted $2.20 earnings per share. As a group, research analysts expect that International Business Machines will post 10.13 earnings per share for the current fiscal year.

Institutional Inflows and Outflows

Several institutional investors have recently made changes to their positions in the business. FPC Investment Advisory Inc. acquired a new position in shares of International Business Machines in the 1st quarter valued at about $26,000. ESL Trust Services LLC acquired a new position in International Business Machines in the first quarter valued at approximately $28,000. Oliver Lagore Vanvalin Investment Group purchased a new stake in International Business Machines in the 2nd quarter worth approximately $36,000. Wolff Wiese Magana LLC grew its stake in shares of International Business Machines by 37.0% during the 2nd quarter. Wolff Wiese Magana LLC now owns 222 shares of the technology company’s stock worth $38,000 after purchasing an additional 60 shares during the period. Finally, Briaud Financial Planning Inc increased its holdings in shares of International Business Machines by 54.3% during the 2nd quarter. Briaud Financial Planning Inc now owns 284 shares of the technology company’s stock valued at $49,000 after purchasing an additional 100 shares in the last quarter. Hedge funds and other institutional investors own 58.96% of the company’s stock.

About International Business Machines

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.