International Business Machines (NYSE:IBM) Stock Rating Reaffirmed by Royal Bank of Canada

by · The Cerbat Gem

International Business Machines (NYSE:IBM – Get Free Report)‘s stock had its “outperform” rating reaffirmed by research analysts at Royal Bank of Canada in a research report issued on Thursday, Benzinga reports. They currently have a $250.00 price target on the technology company’s stock. Royal Bank of Canada’s price objective indicates a potential upside of 14.91% from the company’s current price.

Other analysts also recently issued research reports about the stock. DZ Bank downgraded shares of International Business Machines from a “buy” rating to a “hold” rating and set a $215.00 target price for the company. in a report on Wednesday, October 2nd. Bernstein Bank raised their price target on shares of International Business Machines from $185.00 to $210.00 and gave the company a “market perform” rating in a research report on Thursday, October 3rd. Evercore ISI raised their price target on shares of International Business Machines from $215.00 to $240.00 and gave the company an “outperform” rating in a research report on Wednesday, September 11th. BMO Capital Markets raised their price target on shares of International Business Machines from $235.00 to $260.00 and gave the company a “market perform” rating in a research report on Thursday. Finally, The Goldman Sachs Group raised their price target on shares of International Business Machines from $220.00 to $250.00 and gave the company a “buy” rating in a research report on Monday, September 30th. Three analysts have rated the stock with a sell rating, eight have given a hold rating and seven have issued a buy rating to the company. Based on data from MarketBeat.com, the company has a consensus rating of “Hold” and an average target price of $208.12.

View Our Latest Research Report on International Business Machines

International Business Machines Price Performance

IBM stock traded down $15.18 during mid-day trading on Thursday, reaching $217.57. The company’s stock had a trading volume of 7,042,949 shares, compared to its average volume of 4,205,208. The company’s 50 day moving average is $214.67 and its two-hundred day moving average is $190.05. The stock has a market cap of $199.86 billion, a PE ratio of 24.64, a P/E/G ratio of 5.21 and a beta of 0.70. The company has a current ratio of 1.12, a quick ratio of 1.08 and a debt-to-equity ratio of 2.20. International Business Machines has a fifty-two week low of $136.33 and a fifty-two week high of $237.37.

International Business Machines (NYSE:IBM – Get Free Report) last announced its quarterly earnings results on Wednesday, October 23rd. The technology company reported $2.30 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $2.25 by $0.05. The business had revenue of $14.97 billion during the quarter, compared to the consensus estimate of $15.08 billion. International Business Machines had a net margin of 13.52% and a return on equity of 40.59%. The business’s revenue was up 1.5% compared to the same quarter last year. During the same quarter last year, the firm earned $2.20 EPS. Equities research analysts expect that International Business Machines will post 10.1 EPS for the current year.

Institutional Inflows and Outflows

A number of institutional investors have recently bought and sold shares of the business. Goldstein Advisors LLC increased its stake in International Business Machines by 4.0% in the third quarter. Goldstein Advisors LLC now owns 1,217 shares of the technology company’s stock valued at $269,000 after purchasing an additional 47 shares during the period. Clear Harbor Asset Management LLC increased its stake in International Business Machines by 20.5% in the third quarter. Clear Harbor Asset Management LLC now owns 2,323 shares of the technology company’s stock valued at $514,000 after purchasing an additional 395 shares during the period. Smith Salley Wealth Management increased its stake in shares of International Business Machines by 2.1% during the third quarter. Smith Salley Wealth Management now owns 9,173 shares of the technology company’s stock worth $2,028,000 after acquiring an additional 191 shares during the period. DekaBank Deutsche Girozentrale increased its stake in shares of International Business Machines by 7.9% during the third quarter. DekaBank Deutsche Girozentrale now owns 1,351,453 shares of the technology company’s stock worth $298,136,000 after acquiring an additional 98,516 shares during the period. Finally, Modera Wealth Management LLC increased its stake in shares of International Business Machines by 14.9% during the third quarter. Modera Wealth Management LLC now owns 22,414 shares of the technology company’s stock worth $4,955,000 after acquiring an additional 2,915 shares during the period. 58.96% of the stock is currently owned by institutional investors and hedge funds.

International Business Machines Company Profile

(Get Free Report)

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.

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