StockNews.com Downgrades International Business Machines (NYSE:IBM) to Hold

StockNews.com lowered shares of International Business Machines (NYSE:IBM) from a buy rating to a hold rating in a report published on Friday.

Several other equities research analysts have also issued reports on IBM. Stifel Nicolaus raised their price target on shares of International Business Machines from $205.00 to $246.00 and gave the stock a “buy” rating in a research note on Wednesday, October 16th. The Goldman Sachs Group raised their price target on shares of International Business Machines from $220.00 to $250.00 and gave the stock a “buy” rating in a research note on Monday, September 30th. Evercore ISI raised their price target on shares of International Business Machines from $215.00 to $240.00 and gave the stock an “outperform” rating in a research note on Wednesday, September 11th. Bernstein Bank lifted their price objective on shares of International Business Machines from $185.00 to $210.00 and gave the company a “market perform” rating in a research note on Thursday, October 3rd. Finally, Hsbc Global Res upgraded shares of International Business Machines to a “moderate sell” rating in a research note on Friday, July 26th. Three equities research analysts have rated the stock with a sell rating, nine have issued a hold rating and six have issued a buy rating to the stock. According to data from MarketBeat, the stock has an average rating of “Hold” and an average price target of $208.12.

International Business Machines Price Performance

Shares of NYSE IBM opened at $212.90 on Friday. International Business Machines has a fifty-two week low of $142.58 and a fifty-two week high of $237.37. The stock has a market cap of $195.57 billion, a price-to-earnings ratio of 24.11, a PEG ratio of 4.84 and a beta of 0.70. The company has a debt-to-equity ratio of 2.20, a quick ratio of 1.08 and a current ratio of 1.12. The firm’s 50-day simple moving average is $215.94 and its 200 day simple moving average is $190.65.

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

Institutional Investors Weigh In On International Business Machines

A number of hedge funds and other institutional investors have recently bought and sold shares of the business. Susquehanna Fundamental Investments LLC bought a new position in shares of International Business Machines in the second quarter worth approximately $7,160,000. Hodges Capital Management Inc. lifted its position in International Business Machines by 60.8% during the first quarter. Hodges Capital Management Inc. now owns 20,535 shares of the technology company’s stock valued at $3,921,000 after purchasing an additional 7,768 shares during the period. Burns J W & Co. Inc. NY lifted its position in International Business Machines by 10.8% during the first quarter. Burns J W & Co. Inc. NY now owns 2,571 shares of the technology company’s stock valued at $491,000 after purchasing an additional 250 shares during the period. Smith Thornton Advisors LLC bought a new position in International Business Machines during the second quarter valued at approximately $702,000. Finally, Retirement Planning Group LLC bought a new position in International Business Machines in the third quarter worth approximately $618,000. Hedge funds and other institutional investors own 58.96% of the company’s stock.

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.