Brink’s (NYSE:BCO) Sets New 52-Week High After Analyst Upgrade

The Brink’s Company (NYSE:BCO) hit a new 52-week high on Monday after Truist Financial raised their price target on the stock from $110.00 to $144.00. Truist Financial currently has a buy rating on the stock. Brink’s traded as high as $114.49 and last traded at $113.47, with a volume of 20582 shares. The stock had previously closed at $112.93.

Separately, StockNews.com upgraded shares of Brink’s from a “buy” rating to a “strong-buy” rating in a research note on Friday, August 16th. Three analysts have rated the stock with a buy rating and one has given a strong buy rating to the company. Based on data from MarketBeat, the stock has an average rating of “Buy” and a consensus target price of $123.50.

Institutional Trading of Brink’s

Several hedge funds have recently made changes to their positions in BCO. Healthcare of Ontario Pension Plan Trust Fund purchased a new stake in shares of Brink’s during the second quarter worth about $3,103,000. Point72 Asia Singapore Pte. Ltd. acquired a new position in Brink’s during the second quarter valued at approximately $152,000. Quarry LP lifted its position in Brink’s by 21.4% during the second quarter. Quarry LP now owns 852 shares of the business services provider’s stock valued at $87,000 after buying an additional 150 shares in the last quarter. NewEdge Advisors LLC lifted its position in Brink’s by 26,095.5% during the second quarter. NewEdge Advisors LLC now owns 17,289 shares of the business services provider’s stock valued at $1,770,000 after buying an additional 17,223 shares in the last quarter. Finally, Creative Planning lifted its position in Brink’s by 37.4% during the second quarter. Creative Planning now owns 12,627 shares of the business services provider’s stock valued at $1,293,000 after buying an additional 3,439 shares in the last quarter. Institutional investors and hedge funds own 94.96% of the company’s stock.

Brink’s Trading Down 1.0 %

The stock has a market capitalization of $4.97 billion, a price-to-earnings ratio of 42.87 and a beta of 1.43. The company has a debt-to-equity ratio of 7.78, a current ratio of 1.57 and a quick ratio of 1.57. The business’s 50-day simple moving average is $106.00 and its two-hundred day simple moving average is $98.97.

Brink’s (NYSE:BCO) last posted its earnings results on Wednesday, August 7th. The business services provider reported $1.67 EPS for the quarter, topping analysts’ consensus estimates of $1.47 by $0.20. Brink’s had a net margin of 2.73% and a return on equity of 69.80%. The business had revenue of $1.25 billion for the quarter, compared to analysts’ expectations of $1.26 billion. During the same period in the previous year, the company posted $1.18 earnings per share. The business’s revenue for the quarter was up 3.0% compared to the same quarter last year. On average, research analysts anticipate that The Brink’s Company will post 7.51 earnings per share for the current fiscal year.

Brink’s Announces Dividend

The business also recently declared a quarterly dividend, which will be paid on Monday, December 2nd. Investors of record on Monday, November 4th will be paid a $0.2425 dividend. The ex-dividend date of this dividend is Monday, November 4th. This represents a $0.97 dividend on an annualized basis and a dividend yield of 0.87%. Brink’s’s dividend payout ratio (DPR) is presently 37.16%.

Brink’s Company Profile

The Brink's Company provides secure transportation, cash management, and other security-related services in North America, Latin America, Europe, and internationally. The company offers armored vehicle transportation of valuables; automated teller machine (ATM) management services, such as cash replenishment, cash forecasting, cash optimization, ATM remote monitoring, service call dispatching, transaction processing, installation, and first line maintenance services; and cash-in-transit services.