Truist Financial Issues Positive Forecast for Brink’s (NYSE:BCO) Stock Price

Brink’s (NYSE:BCO) had its price target raised by Truist Financial from $138.00 to $163.00 in a research note released on Tuesday, MarketBeat reports. They currently have a buy rating on the business services provider’s stock.

Separately, Weiss Ratings raised shares of Brink’s from a “hold (c+)” rating to a “buy (b-)” rating in a research note on Friday, October 24th. Two analysts have rated the stock with a Buy rating and one has assigned a Hold rating to the stock. According to MarketBeat, the company presently has a consensus rating of “Moderate Buy” and a consensus price target of $163.00.

Brink’s Price Performance

BCO stock opened at $131.27 on Tuesday. The stock has a market capitalization of $5.45 billion, a price-to-earnings ratio of 33.57 and a beta of 1.09. The company has a quick ratio of 1.46, a current ratio of 1.46 and a debt-to-equity ratio of 9.14. Brink’s has a 52-week low of $80.10 and a 52-week high of $132.93. The stock’s fifty day simple moving average is $122.10 and its 200-day simple moving average is $114.75.

Brink’s announced that its board has initiated a stock repurchase program on Thursday, December 11th that allows the company to buyback $750.00 million in shares. This buyback authorization allows the business services provider to purchase up to 15.4% of its stock through open market purchases. Stock buyback programs are typically an indication that the company’s leadership believes its shares are undervalued.

Brink’s Dividend Announcement

The firm also recently disclosed a quarterly dividend, which will be paid on Monday, March 2nd. Shareholders of record on Monday, February 2nd will be paid a dividend of $0.255 per share. This represents a $1.02 annualized dividend and a yield of 0.8%. The ex-dividend date is Monday, February 2nd. Brink’s’s payout ratio is currently 26.09%.

Insider Buying and Selling at Brink’s

In related news, insider Michael E. Sweeney sold 1,418 shares of the company’s stock in a transaction on Monday, December 15th. The shares were sold at an average price of $119.50, for a total transaction of $169,451.00. Following the completion of the sale, the insider directly owned 5,755 shares of the company’s stock, valued at approximately $687,722.50. This represents a 19.77% decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. Insiders own 0.72% of the company’s stock.

Institutional Inflows and Outflows

A number of hedge funds and other institutional investors have recently modified their holdings of the stock. Jackson Creek Investment Advisors LLC bought a new position in shares of Brink’s in the 3rd quarter worth about $2,332,000. SG Capital Management LLC acquired a new stake in Brink’s during the second quarter worth about $8,842,000. Edgestream Partners L.P. lifted its holdings in Brink’s by 78.3% in the second quarter. Edgestream Partners L.P. now owns 51,949 shares of the business services provider’s stock worth $4,639,000 after acquiring an additional 22,810 shares during the last quarter. Vest Financial LLC boosted its stake in Brink’s by 69.8% in the third quarter. Vest Financial LLC now owns 41,341 shares of the business services provider’s stock valued at $4,831,000 after acquiring an additional 16,987 shares during the period. Finally, Capital Fund Management S.A. bought a new position in shares of Brink’s during the second quarter valued at approximately $1,341,000. Institutional investors and hedge funds own 94.96% of the company’s stock.

Brink’s Company Profile

The Brink’s Company (NYSE: BCO) is a global leader in secure logistics and cash management solutions. The company provides a comprehensive suite of services that span armored transportation, cash-in-transit (CIT), ATM services, smart safe solutions, and valuables storage. Through its network of service centers and armored vehicles, Brink’s ensures the safe and efficient movement of currency, precious metals, and other high-value assets for banks, retailers, mints, and government agencies.

Brink’s armored transport operations are complemented by technology-driven cash management offerings, including deposit automation and secure vaulting.