International Business Machines (NYSE:IBM) Lifted to “Buy” at StockNews.com

International Business Machines (NYSE:IBM) was upgraded by equities researchers at StockNews.com from a “hold” rating to a “buy” rating in a report released on Wednesday.

IBM has been the subject of several other reports. Jefferies Financial Group lowered their target price on International Business Machines from $215.00 to $210.00 and set a “hold” rating for the company in a research note on Tuesday, April 23rd. Royal Bank of Canada reissued an “outperform” rating and set a $200.00 target price on shares of International Business Machines in a research note on Wednesday, May 22nd. BNP Paribas began coverage on International Business Machines in a research note on Thursday, May 2nd. They set an “underperform” rating and a $145.00 target price for the company. Wedbush lifted their price target on International Business Machines from $140.00 to $160.00 and gave the stock a “neutral” rating in a report on Thursday, April 25th. Finally, JPMorgan Chase & Co. decreased their price target on International Business Machines from $190.00 to $185.00 and set a “neutral” rating for the company in a report on Thursday, April 25th. Three investment analysts have rated the stock with a sell rating, six have assigned a hold rating and six have issued a buy rating to the company. Based on data from MarketBeat, the company currently has a consensus rating of “Hold” and an average price target of $181.29.

International Business Machines Trading Up 2.0 %

Shares of NYSE IBM opened at $173.97 on Wednesday. International Business Machines has a twelve month low of $129.18 and a twelve month high of $199.18. The company has a current ratio of 1.13, a quick ratio of 1.09 and a debt-to-equity ratio of 2.32. The stock has a fifty day simple moving average of $171.11 and a 200-day simple moving average of $175.93. The stock has a market capitalization of $159.81 billion, a PE ratio of 19.70, a PEG ratio of 4.21 and a beta of 0.72.

International Business Machines (NYSE:IBM) last released its earnings results on Tuesday, April 30th. The technology company reported $1.68 EPS for the quarter, topping the consensus estimate of $1.59 by $0.09. International Business Machines had a return on equity of 40.21% and a net margin of 13.18%. The firm had revenue of $14.46 billion during the quarter, compared to analysts’ expectations of $14.53 billion. During the same period in the previous year, the firm posted $1.36 EPS. International Business Machines’s revenue for the quarter was up 1.5% on a year-over-year basis. On average, equities analysts forecast that International Business Machines will post 9.9 earnings per share for the current year.

Institutional Trading of International Business Machines

Institutional investors and hedge funds have recently made changes to their positions in the company. FPC Investment Advisory Inc. purchased a new stake in shares of International Business Machines in the 1st quarter valued at about $26,000. Naples Money Management LLC acquired a new position in International Business Machines in the 4th quarter valued at about $28,000. ESL Trust Services LLC acquired a new position in International Business Machines in the 1st quarter valued at about $28,000. Creekmur Asset Management LLC acquired a new position in International Business Machines in the 4th quarter valued at about $29,000. Finally, Ables Iannone Moore & Associates Inc. acquired a new position in International Business Machines in the 4th quarter valued at about $31,000. 58.96% of the stock is owned by hedge funds and other institutional investors.

International Business Machines Company Profile

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.