Drexel Hamilton Reiterates Buy Rating for International Business Machines Corporation (IBM)

International Business Machines Corporation (NYSE:IBM)‘s stock had its “buy” rating reaffirmed by investment analysts at Drexel Hamilton in a research report issued to clients and investors on Tuesday, October 17th. They currently have a $200.00 price objective on the technology company’s stock. Drexel Hamilton’s price target would suggest a potential upside of 32.78% from the stock’s current price.

Other analysts have also recently issued reports about the company. Cantor Fitzgerald reiterated a “hold” rating and set a $154.00 price target (down from $166.00) on shares of International Business Machines Corporation in a research report on Wednesday, July 19th. Cleveland Research began coverage on International Business Machines Corporation in a research report on Thursday, June 22nd. They set a “neutral” rating for the company. Argus reiterated a “buy” rating and set a $175.00 price target (down from $192.00) on shares of International Business Machines Corporation in a research report on Friday, July 21st. UBS AG reiterated a “neutral” rating and set a $159.00 price target (down from $167.00) on shares of International Business Machines Corporation in a research report on Saturday, July 22nd. Finally, Vetr upgraded International Business Machines Corporation from a “hold” rating to a “buy” rating and set a $150.68 price target for the company in a research report on Monday, July 31st. Eight research analysts have rated the stock with a sell rating, eighteen have given a hold rating and ten have given a buy rating to the company. The company has an average rating of “Hold” and an average price target of $158.90.

International Business Machines Corporation (IBM) traded down $0.95 during trading on Tuesday, hitting $150.63. The stock had a trading volume of 1,789,437 shares, compared to its average volume of 5,170,000. The stock has a market capitalization of $139,430.00, a PE ratio of 11.10, a PEG ratio of 2.22 and a beta of 0.94. International Business Machines Corporation has a 1-year low of $139.13 and a 1-year high of $182.79. The company has a debt-to-equity ratio of 2.09, a current ratio of 1.41 and a quick ratio of 1.36.

International Business Machines Corporation (NYSE:IBM) last posted its quarterly earnings data on Tuesday, October 17th. The technology company reported $3.30 EPS for the quarter, beating the Zacks’ consensus estimate of $3.28 by $0.02. International Business Machines Corporation had a return on equity of 68.68% and a net margin of 14.43%. The business had revenue of $19.15 billion during the quarter, compared to analysts’ expectations of $18.63 billion. During the same period in the previous year, the business earned $3.29 earnings per share. The business’s revenue was down .4% compared to the same quarter last year. equities analysts forecast that International Business Machines Corporation will post 13.8 EPS for the current fiscal year.

International Business Machines Corporation declared that its board has approved a share repurchase plan on Tuesday, October 31st that allows the company to repurchase $3.00 billion in outstanding shares. This repurchase authorization allows the technology company to reacquire shares of its stock through open market purchases. Stock repurchase plans are often an indication that the company’s board believes its stock is undervalued.

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Several institutional investors and hedge funds have recently added to or reduced their stakes in IBM. Waldron LP increased its holdings in shares of International Business Machines Corporation by 98.2% in the 1st quarter. Waldron LP now owns 4,141 shares of the technology company’s stock valued at $715,000 after acquiring an additional 2,052 shares during the last quarter. Profund Advisors LLC increased its holdings in shares of International Business Machines Corporation by 13.7% in the 1st quarter. Profund Advisors LLC now owns 30,956 shares of the technology company’s stock valued at $5,391,000 after acquiring an additional 3,733 shares during the last quarter. Acadian Asset Management LLC increased its holdings in shares of International Business Machines Corporation by 28.9% in the 1st quarter. Acadian Asset Management LLC now owns 37,487 shares of the technology company’s stock valued at $6,527,000 after acquiring an additional 8,399 shares during the last quarter. Headinvest LLC increased its holdings in shares of International Business Machines Corporation by 4.8% in the 1st quarter. Headinvest LLC now owns 2,943 shares of the technology company’s stock valued at $512,000 after acquiring an additional 135 shares during the last quarter. Finally, Glen Harbor Capital Management LLC increased its holdings in shares of International Business Machines Corporation by 54.4% in the 1st quarter. Glen Harbor Capital Management LLC now owns 82,858 shares of the technology company’s stock valued at $14,429,000 after acquiring an additional 29,206 shares during the last quarter. Institutional investors and hedge funds own 58.35% of the company’s stock.

International Business Machines Corporation Company Profile

International Business Machines Corporation (IBM) is a technology company. The Company operates through five segments: Cognitive Solutions, Global Business Services (GBS), Technology Services & Cloud Platforms, Systems and Global Financing. The Cognitive Solutions segment delivers a spectrum of capabilities, from descriptive, predictive and prescriptive analytics to cognitive systems.

Analyst Recommendations for International Business Machines Corporation (NYSE:IBM)

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