Brink’s (NYSE:BCO) Given New $163.00 Price Target at Truist Financial

Brink’s (NYSE:BCO) had its price target lifted by equities research analysts at Truist Financial from $138.00 to $163.00 in a research note issued on Tuesday,Benzinga reports. The brokerage presently has a “buy” rating on the business services provider’s stock. Truist Financial’s price objective would indicate a potential upside of 24.84% from the company’s current price.

Separately, Weiss Ratings raised 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 given a Hold rating to the company. According to MarketBeat.com, the stock presently has a consensus rating of “Moderate Buy” and an average target price of $163.00.

Brink’s Trading Down 0.3%

Shares of Brink’s stock opened at $130.56 on Tuesday. Brink’s has a 52-week low of $80.10 and a 52-week high of $132.93. The company’s 50-day simple moving average is $121.74 and its 200-day simple moving average is $114.47. The firm has a market cap of $5.42 billion, a price-to-earnings ratio of 33.39 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 declared that its board has initiated a stock repurchase program on Thursday, December 11th that permits the company to buyback $750.00 million in shares. This buyback authorization permits the business services provider to reacquire up to 15.4% of its shares through open market purchases. Shares buyback programs are often a sign that the company’s leadership believes its stock is undervalued.

Insider Activity at Brink’s

In related news, insider Michael E. Sweeney sold 1,418 shares of the stock in a transaction dated 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 approximately $687,722.50. This represents a 19.77% decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. 0.72% of the stock is owned by corporate insiders.

Institutional Trading of Brink’s

Hedge funds have recently bought and sold shares of the company. M&T Bank Corp increased its stake in Brink’s by 1.2% during the 4th quarter. M&T Bank Corp now owns 7,114 shares of the business services provider’s stock valued at $831,000 after buying an additional 86 shares during the period. CWM LLC increased its stake in shares of Brink’s by 6.9% during the fourth quarter. CWM LLC now owns 1,479 shares of the business services provider’s stock valued at $173,000 after acquiring an additional 96 shares during the period. Hantz Financial Services Inc. raised its holdings in Brink’s by 26.2% during the fourth quarter. Hantz Financial Services Inc. now owns 506 shares of the business services provider’s stock worth $59,000 after purchasing an additional 105 shares in the last quarter. Optiver Holding B.V. lifted its position in Brink’s by 42.9% in the third 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 period. Finally, GAMMA Investing LLC boosted its stake in Brink’s by 7.3% during the 4th quarter. GAMMA Investing LLC now owns 1,606 shares of the business services provider’s stock valued at $187,000 after purchasing an additional 109 shares in the last quarter. Institutional investors and hedge funds own 94.96% of the company’s stock.

About Brink’s

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.