Zacks Investment Research Upgrades NCR Corporation (NCR) to “Buy”
NCR Corporation (NYSE:NCR) was upgraded by Zacks Investment Research from a “hold” rating to a “buy” rating in a research report issued to clients and investors on Tuesday, June 6th. The firm currently has a $45.00 target price on the information technology services provider’s stock. Zacks Investment Research‘s target price indicates a potential upside of 11.47% from the company’s previous close.
According to Zacks, “NCR is one of the world’s leading consumer transaction technology providers. The stock has outperformed the broader sector over the last one year. We believe, NCR’s growing exposure in the self-service kiosk space is encouraging, given the tremendous growth prospects. The company has also been the global leader in self-service ATMs for several years in terms of market share. NCR remains the largest supplier of ATM machines in Asia-Pacific and North America while maintaining its leadership in the Asian and European markets. By 2020, RBR Research expects India to install base similar to the size of the U.S., trailing only China. This creates huge opportunities for companies like NCR. Going ahead, continuous product launches, growing popularity of its self-service offerings and synergies from acquisitions are the catalysts. However, intense competition from peers and a high debt burden remain concerns.”
Several other research analysts have also recently issued reports on NCR. Royal Bank Of Canada reaffirmed a “buy” rating on shares of NCR Corporation in a report on Tuesday, March 14th. Citigroup Inc. raised shares of NCR Corporation to an “outperform” rating and set a $51.00 price objective for the company in a report on Thursday, March 16th. Oppenheimer Holdings, Inc. upgraded shares of NCR Corporation from a “market perform” rating to an “outperform” rating and set a $51.00 target price for the company in a research report on Thursday, March 16th. CIBC upgraded shares of NCR Corporation from a “market perform” rating to an “outperform” rating in a research report on Thursday, March 16th. Finally, Benchmark Co. initiated coverage on shares of NCR Corporation in a research report on Thursday, April 13th. They issued a “buy” rating and a $55.00 price target for the company. One investment analyst has rated the stock with a hold rating and seven have assigned a buy rating to the stock. The company currently has a consensus rating of “Buy” and a consensus price target of $46.29.
Shares of NCR Corporation (NYSE NCR) traded down 2.06% during mid-day trading on Tuesday, reaching $39.54. The company had a trading volume of 471,866 shares. The firm has a market capitalization of $4.80 billion, a price-to-earnings ratio of 27.67 and a beta of 1.91. The stock has a 50 day moving average of $40.66 and a 200-day moving average of $42.91. NCR Corporation has a one year low of $25.20 and a one year high of $49.90.
NCR Corporation (NYSE:NCR) last issued its quarterly earnings results on Thursday, April 20th. The information technology services provider reported $0.56 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.46 by $0.10. NCR Corporation had a net margin of 4.49% and a return on equity of 88.93%. The company had revenue of $1.48 billion during the quarter, compared to analysts’ expectations of $1.46 billion. During the same period last year, the company posted $0.38 EPS. NCR Corporation’s revenue was up 2.4% on a year-over-year basis. Equities analysts predict that NCR Corporation will post $3.37 EPS for the current year.
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In other NCR Corporation news, EVP J. Robert Ciminera sold 3,086 shares of the stock in a transaction dated Tuesday, May 2nd. The shares were sold at an average price of $42.48, for a total transaction of $131,093.28. Following the transaction, the executive vice president now directly owns 9,888 shares in the company, valued at approximately $420,042.24. The sale was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. 1.00% of the stock is owned by corporate insiders.
Institutional investors have recently made changes to their positions in the stock. Louisiana State Employees Retirement System raised its position in NCR Corporation by 2.6% in the first quarter. Louisiana State Employees Retirement System now owns 31,500 shares of the information technology services provider’s stock worth $1,439,000 after buying an additional 800 shares in the last quarter. Capstone Asset Management Co. raised its position in NCR Corporation by 4.3% in the first quarter. Capstone Asset Management Co. now owns 13,541 shares of the information technology services provider’s stock worth $619,000 after buying an additional 560 shares in the last quarter. Bank of Montreal Can boosted its stake in shares of NCR Corporation by 29.0% in the first quarter. Bank of Montreal Can now owns 693,214 shares of the information technology services provider’s stock worth $31,665,000 after buying an additional 155,678 shares during the last quarter. Teachers Advisors LLC boosted its stake in shares of NCR Corporation by 0.8% in the fourth quarter. Teachers Advisors LLC now owns 573,350 shares of the information technology services provider’s stock worth $23,255,000 after buying an additional 4,528 shares during the last quarter. Finally, Norges Bank purchased a new stake in shares of NCR Corporation during the fourth quarter worth approximately $52,346,000. 89.31% of the stock is owned by hedge funds and other institutional investors.
About NCR Corporation
NCR Corporation is a provider of Omni-channel technology solutions that enable businesses connect, interact and transact with their customers. The Company operates through three segments: Software, Services and Hardware. It sells a portfolio of hardware, software and services that combine to provide businesses with solutions.
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