Zacks Investment Research Downgrades Brink’s Co. (BCO) to Hold
Brink’s Co. (NYSE:BCO) was downgraded by Zacks Investment Research from a “strong-buy” rating to a “hold” rating in a research report issued to clients and investors on Tuesday.
According to Zacks, “The Brink’s Company is a global leader in business and security services. Their three main businesses are Brink’s, Incorporated, the world’s premier provider of secure transportation and cash management services; Brink’s Home Security, one of the largest and most successful residential alarm companies in North America; and BAX Global, an industry leader in global supply chain management. “
Other equities research analysts have also issued research reports about the company. Imperial Capital reissued an “in-line” rating and set a $31.50 price target on shares of Brink’s in a research note on Friday, July 15th. Macquarie boosted their price target on Brink’s from $33.00 to $38.00 and gave the stock a “neutral” rating in a research note on Friday, September 16th.
Brink’s (NYSE:BCO) traded down 1.87% during mid-day trading on Tuesday, reaching $36.74. The company’s stock had a trading volume of 198,727 shares. The stock’s 50 day moving average is $36.46 and its 200 day moving average is $32.60. Brink’s has a one year low of $25.87 and a one year high of $37.92. The firm has a market cap of $1.82 billion, a PE ratio of 1933.68 and a beta of 1.54.
Brink’s (NYSE:BCO) last announced its quarterly earnings data on Thursday, July 28th. The company reported $0.38 earnings per share for the quarter, beating the Zacks’ consensus estimate of $0.26 by $0.12. Brink’s had a return on equity of 22.23% and a net margin of 0.04%. The company had revenue of $739.50 million for the quarter, compared to analyst estimates of $699.03 million. During the same quarter in the previous year, the company earned $0.27 EPS. The firm’s revenue for the quarter was down 2.7% compared to the same quarter last year. On average, analysts anticipate that Brink’s will post $2.00 EPS for the current year.
In related news, insider Amit Zukerman sold 10,518 shares of Brink’s stock in a transaction that occurred on Wednesday, August 10th. The stock was sold at an average price of $36.69, for a total transaction of $385,905.42. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this link. Also, CFO Ronald James Domanico acquired 16,744 shares of the business’s stock in a transaction that occurred on Thursday, July 14th. The shares were bought at an average price of $29.86 per share, with a total value of $499,975.84. Following the completion of the transaction, the chief financial officer now directly owns 16,744 shares in the company, valued at $499,975.84. The disclosure for this purchase can be found here. Corporate insiders own 11.29% of the company’s stock.
Hedge funds and other institutional investors have recently modified their holdings of the company. Martingale Asset Management L P increased its position in shares of Brink’s by 1.1% in the second quarter. Martingale Asset Management L P now owns 9,219 shares of the company’s stock valued at $263,000 after buying an additional 100 shares in the last quarter. Public Employees Retirement System of Ohio increased its position in shares of Brink’s by 3.2% in the second quarter. Public Employees Retirement System of Ohio now owns 6,257 shares of the company’s stock valued at $178,000 after buying an additional 193 shares in the last quarter. Louisiana State Employees Retirement System increased its position in shares of Brink’s by 0.9% in the second quarter. Louisiana State Employees Retirement System now owns 21,800 shares of the company’s stock valued at $621,000 after buying an additional 200 shares in the last quarter. PineBridge Investments L.P. increased its position in shares of Brink’s by 4.7% in the second quarter. PineBridge Investments L.P. now owns 6,256 shares of the company’s stock valued at $178,000 after buying an additional 283 shares in the last quarter. Finally, Capstone Asset Management Co. increased its position in shares of Brink’s by 2.5% in the second quarter. Capstone Asset Management Co. now owns 14,889 shares of the company’s stock valued at $424,000 after buying an additional 370 shares in the last quarter. Hedge funds and other institutional investors own 93.07% of the company’s stock.
Brink’s Company Profile
The Brink’s Company (Brink’s) is a provider of logistics and security solutions. The Company’s solutions include cash-in-transit, automated teller machine (ATM) replenishment and maintenance, international transportation of valuables, cash management and payment services, to financial institutions, retailers, government agencies (including central banks), mints, jewelers and other commercial operations around the world.
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