Brink’s (NYSE:BCO) Reaches New 52-Week High Following Analyst Upgrade

Brink’s Company (The) (NYSE:BCO) reached a new 52-week high during mid-day trading on Wednesday after Truist Financial raised their price target on the stock from $138.00 to $163.00. Truist Financial currently has a buy rating on the stock. Brink’s traded as high as $133.62 and last traded at $131.13, with a volume of 16436 shares. The stock had previously closed at $131.49.

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

Insider Transactions 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 value of $169,451.00. Following the sale, the insider directly owned 5,755 shares of the company’s stock, valued at $687,722.50. This represents a 19.77% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is accessible through this link. 0.49% of the stock is owned by corporate insiders.

Institutional Investors Weigh In On Brink’s

Several hedge funds have recently made changes to their positions in the company. Advisory Services Network LLC acquired a new stake in shares of Brink’s during the third quarter worth approximately $33,000. Mather Group LLC. purchased a new position in shares of Brink’s during the 3rd quarter valued at $34,000. Caldwell Trust Co acquired a new stake in Brink’s during the second quarter valued at $27,000. Global Retirement Partners LLC purchased a new position in Brink’s in the fourth quarter valued at about $39,000. Finally, Optiver Holding B.V. increased its position in Brink’s by 42.9% in the 3rd quarter. Optiver Holding B.V. now owns 353 shares of the business services provider’s stock worth $41,000 after purchasing an additional 106 shares during the last quarter. Hedge funds and other institutional investors own 94.96% of the company’s stock.

Brink’s Price Performance

The company has a market capitalization of $5.43 billion, a PE ratio of 33.40 and a beta of 1.09. The company has a debt-to-equity ratio of 9.14, a quick ratio of 1.46 and a current ratio of 1.46. The stock has a 50 day moving average price of $122.35 and a two-hundred day moving average price of $114.86.

Brink’s Announces Dividend

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

Brink’s declared that its Board of Directors has initiated a stock buyback program on Thursday, December 11th that authorizes the company to buyback $750.00 million in outstanding shares. This buyback authorization authorizes the business services provider to reacquire up to 15.4% of its stock through open market purchases. Stock buyback programs are generally an indication that the company’s leadership believes its shares are undervalued.

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.