IBM (IBM) Price Target Cut to $140.00 by Analysts at Cantor Fitzgerald

IBM (NYSE:IBM) had its price target lowered by research analysts at Cantor Fitzgerald to $140.00 in a note issued to investors on Wednesday, The Fly reports. The brokerage presently has a “neutral” rating on the technology company’s stock. Cantor Fitzgerald’s price objective would indicate a potential downside of 3.53% from the stock’s current price.

IBM has been the subject of several other research reports. Zacks Investment Research lowered IBM from a “hold” rating to a “sell” rating in a report on Wednesday, October 3rd. Moffett Nathanson began coverage on IBM in a report on Thursday, October 4th. They issued a “sell” rating and a $150.00 price objective for the company. JPMorgan Chase & Co. reissued a “$149.24” rating and issued a $157.00 price objective on shares of IBM in a report on Thursday, July 19th. Societe Generale set a $149.00 price objective on IBM and gave the stock a “sell” rating in a report on Thursday, July 19th. Finally, Wedbush reissued a “neutral” rating and issued a $185.00 price objective on shares of IBM in a report on Thursday, July 19th. Five analysts have rated the stock with a sell rating, ten have given a hold rating and ten have given a buy rating to the company’s stock. The company currently has an average rating of “Hold” and an average target price of $167.93.

Shares of IBM stock opened at $145.12 on Wednesday. IBM has a 1 year low of $137.45 and a 1 year high of $171.13. The firm has a market cap of $138.02 billion, a PE ratio of 10.52, a price-to-earnings-growth ratio of 2.20 and a beta of 0.87. The company has a quick ratio of 1.27, a current ratio of 1.32 and a debt-to-equity ratio of 2.03.

IBM (NYSE:IBM) last announced its earnings results on Tuesday, October 16th. The technology company reported $3.42 earnings per share (EPS) for the quarter, beating the consensus estimate of $3.40 by $0.02. IBM had a return on equity of 69.84% and a net margin of 7.13%. The firm had revenue of $18.76 billion during the quarter, compared to analyst estimates of $19.04 billion. During the same period last year, the firm posted $3.30 EPS. The business’s revenue was down 2.1% compared to the same quarter last year. Equities analysts expect that IBM will post 13.82 earnings per share for the current fiscal year.

In other IBM news, insider Diane J. Gherson sold 11,451 shares of the firm’s stock in a transaction dated Friday, August 3rd. The stock was sold at an average price of $145.42, for a total value of $1,665,204.42. Following the completion of the transaction, the insider now owns 19,114 shares in the company, valued at approximately $2,779,557.88. The sale was disclosed in a filing with the SEC, which can be accessed through the SEC website. 0.17% of the stock is owned by company insiders.

Hedge funds and other institutional investors have recently modified their holdings of the business. Coastline Trust Co boosted its stake in IBM by 14.7% in the 2nd quarter. Coastline Trust Co now owns 19,353 shares of the technology company’s stock worth $2,704,000 after purchasing an additional 2,475 shares during the period. Berkshire Asset Management LLC PA boosted its stake in IBM by 2.4% in the 3rd quarter. Berkshire Asset Management LLC PA now owns 20,690 shares of the technology company’s stock worth $3,129,000 after purchasing an additional 481 shares during the period. Argus Investors Counsel Inc. boosted its stake in IBM by 18.8% in the 2nd quarter. Argus Investors Counsel Inc. now owns 27,425 shares of the technology company’s stock worth $3,831,000 after purchasing an additional 4,349 shares during the period. Viking Fund Management LLC boosted its stake in IBM by 3.8% in the 3rd quarter. Viking Fund Management LLC now owns 27,000 shares of the technology company’s stock worth $4,083,000 after purchasing an additional 1,000 shares during the period. Finally, Grassi Investment Management boosted its stake in IBM by 2.0% in the 2nd quarter. Grassi Investment Management now owns 49,795 shares of the technology company’s stock worth $6,956,000 after purchasing an additional 965 shares during the period. Institutional investors and hedge funds own 55.39% of the company’s stock.

About IBM

International Business Machines Corporation operates as an integrated technology and services company worldwide. Its Cognitive Solutions segment offers Watson, a cognitive computing platform that interacts in natural language, processes big data, and learns from interactions with people and computers.

Further Reading: Short Selling Stocks and Day Traders

The Fly

Analyst Recommendations for IBM (NYSE:IBM)

Receive News & Ratings for IBM Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for IBM and related companies with MarketBeat.com's FREE daily email newsletter.

Leave a Reply