Morgan Stanley Increases International Business Machines (NYSE:IBM) Price Target to $217.00

International Business Machines (NYSE:IBM) had its price objective increased by analysts at Morgan Stanley from $182.00 to $217.00 in a research report issued to clients and investors on Thursday, Benzinga reports. The brokerage presently has an “equal weight” rating on the technology company’s stock. Morgan Stanley’s price target would indicate a potential downside of 6.31% from the stock’s previous close.

Several other brokerages have also weighed in on IBM. Royal Bank of Canada increased their price objective on shares of International Business Machines from $211.00 to $250.00 and gave the stock an “outperform” rating in a report on Thursday, October 10th. StockNews.com raised shares of International Business Machines from a “hold” rating to a “buy” rating in a research note on Wednesday, June 19th. Evercore ISI upped their price objective on International Business Machines from $215.00 to $240.00 and gave the stock an “outperform” rating in a report on Wednesday, September 11th. BMO Capital Markets raised their price objective on International Business Machines from $190.00 to $210.00 and gave the stock a “market perform” rating in a report on Thursday, July 25th. Finally, Bernstein Bank boosted their target price on International Business Machines from $185.00 to $210.00 and gave the stock a “market perform” rating in a report on Thursday, October 3rd. Three equities research analysts have rated the stock with a sell rating, eight have assigned a hold rating and seven have issued a buy rating to the stock. According to data from MarketBeat.com, International Business Machines has a consensus rating of “Hold” and an average target price of $203.06.

International Business Machines Trading Down 0.9 %

Shares of NYSE:IBM traded down $2.06 during trading on Thursday, reaching $231.61. The stock had a trading volume of 639,198 shares, compared to its average volume of 4,171,189. The stock has a market cap of $212.76 billion, a P/E ratio of 26.25, a PEG ratio of 5.21 and a beta of 0.70. The company has a quick ratio of 1.08, a current ratio of 1.12 and a debt-to-equity ratio of 2.20. International Business Machines has a fifty-two week low of $135.87 and a fifty-two week high of $237.37. The business has a fifty day moving average price of $210.57 and a 200-day moving average price of $188.54.

International Business Machines (NYSE:IBM) last posted its quarterly earnings data on Wednesday, July 24th. The technology company reported $2.43 earnings per share (EPS) for the quarter, topping the consensus estimate of $2.16 by $0.27. International Business Machines had a return on equity of 40.59% and a net margin of 13.52%. The business had revenue of $15.77 billion for the quarter, compared to analysts’ expectations of $15.62 billion. During the same quarter last year, the firm earned $2.18 earnings per share. The business’s revenue was up 1.9% on a year-over-year basis. As a group, analysts anticipate that International Business Machines will post 10.1 earnings per share for the current fiscal year.

Hedge Funds Weigh In On International Business Machines

A number of hedge funds and other institutional investors have recently modified their holdings of the stock. Susquehanna Fundamental Investments LLC purchased a new position in International Business Machines during the 2nd quarter worth approximately $7,160,000. Hodges Capital Management Inc. grew its holdings in shares of 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 buying an additional 7,768 shares in the last quarter. Burns J W & Co. Inc. NY raised 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 buying an additional 250 shares during the period. Smith Thornton Advisors LLC acquired a new position in International Business Machines during the second quarter valued at $702,000. Finally, Retirement Planning Group LLC acquired a new stake in International Business Machines during the 3rd quarter worth about $618,000. Institutional investors and hedge funds own 58.96% of the company’s stock.

About International Business Machines

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.