Jefferies Financial Group Trims International Business Machines (NYSE:IBM) Target Price to $210.00

International Business Machines (NYSE:IBM) had its target price lowered by equities research analysts at Jefferies Financial Group from $215.00 to $210.00 in a report released on Tuesday, Benzinga reports. The firm currently has a “hold” rating on the technology company’s stock. Jefferies Financial Group’s price objective suggests a potential upside of 14.12% from the stock’s current price.

IBM has been the subject of several other reports. Royal Bank of Canada lifted their price objective on shares of International Business Machines from $179.00 to $200.00 and gave the stock an “outperform” rating in a research note on Thursday, January 25th. Evercore ISI upgraded International Business Machines from an “in-line” rating to an “outperform” rating and boosted their price objective for the company from $165.00 to $200.00 in a report on Friday, January 19th. UBS Group upped their target price on shares of International Business Machines from $125.00 to $130.00 and gave the stock a “sell” rating in a research note on Monday. Bank of America raised their price target on International Business Machines from $200.00 to $220.00 and gave the company a “buy” rating in a research note on Thursday, March 14th. Finally, Evercore raised shares of International Business Machines from an “in-line” rating to an “outperform” rating and upped their price target for the stock from $165.00 to $200.00 in a research report on Friday, January 19th. Two equities research analysts have rated the stock with a sell rating, seven have issued a hold rating and five have given a buy rating to the stock. Based on data from MarketBeat.com, International Business Machines presently has a consensus rating of “Hold” and a consensus price target of $177.23.

International Business Machines Stock Performance

Shares of NYSE:IBM opened at $184.01 on Tuesday. The firm has a fifty day simple moving average of $188.36 and a two-hundred day simple moving average of $169.98. International Business Machines has a 52 week low of $120.55 and a 52 week high of $199.18. The company has a quick ratio of 0.93, a current ratio of 0.96 and a debt-to-equity ratio of 2.22. The stock has a market capitalization of $168.69 billion, a P/E ratio of 22.63, a PEG ratio of 3.57 and a beta of 0.70.

International Business Machines (NYSE:IBM) last issued its quarterly earnings data on Wednesday, April 24th. The technology company reported $1.68 earnings per share for the quarter, topping the consensus estimate of $1.59 by $0.09. The company had revenue of $14.46 billion for the quarter, compared to analysts’ expectations of $14.53 billion. International Business Machines had a return on equity of 39.55% and a net margin of 12.13%. The firm’s revenue for the quarter was up 1.5% on a year-over-year basis. During the same period in the previous year, the firm posted $1.36 earnings per share. On average, analysts expect that International Business Machines will post 10.04 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 made changes to their positions in the company. Summit Global Investments acquired a new stake in International Business Machines in the third quarter valued at approximately $235,000. Ziegler Capital Management LLC raised its position in International Business Machines by 0.8% during the third quarter. Ziegler Capital Management LLC now owns 21,863 shares of the technology company’s stock worth $3,067,000 after acquiring an additional 172 shares during the period. Private Trust Co. NA lifted its holdings in International Business Machines by 5.6% during the third quarter. Private Trust Co. NA now owns 11,815 shares of the technology company’s stock valued at $1,658,000 after purchasing an additional 627 shares in the last quarter. Wagner Wealth Management LLC grew its position in shares of International Business Machines by 1.4% in the third quarter. Wagner Wealth Management LLC now owns 22,375 shares of the technology company’s stock valued at $3,139,000 after purchasing an additional 311 shares during the period. Finally, Holland Advisory Services Inc. purchased a new stake in shares of International Business Machines during the third quarter worth about $311,000. Institutional investors and hedge funds 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.