Zacks Investment Research Lowers NCR Co. (NCR) to Hold

Zacks Investment Research lowered shares of NCR Co. (NYSE:NCR) from a buy rating to a hold rating in a research note issued to investors on Monday morning.

According to Zacks, “NCR is one of the world’s leading consumer transaction technology providers. The stock has outperformed the broader sector over the last one year. We believe, NCR’s growing exposure in the self-service kiosk space is encouraging, given the tremendous growth prospects. The company has also been the global leader in self-service ATMs for several years in terms of market share. NCR remains the largest supplier of ATM machines in Asia-Pacific and North America while maintaining its leadership in the Asian and European markets. By 2020, RBR Research expects India to install base similar to the size of the U.S., trailing only China. This creates huge opportunities for companies like NCR. Going ahead, continuous product launches, growing popularity of its self-service offerings and synergies from acquisitions are the catalysts. However, intense competition from peers and a high debt burden remain concerns.”

A number of other brokerages have also recently commented on NCR. Royal Bank of Canada reiterated a buy rating and issued a $51.00 price target on shares of NCR in a research note on Wednesday, April 12th. Benchmark Co. initiated coverage on NCR in a report on Thursday, April 13th. They issued a buy rating and a $55.00 price objective for the company. CIBC upgraded NCR from a market perform rating to an outperform rating in a report on Thursday, March 16th. Oppenheimer Holdings Inc. upgraded NCR from a market perform rating to an outperform rating and set a $51.00 price objective for the company in a report on Thursday, March 16th. Finally, Citigroup Inc upgraded NCR to an outperform rating and set a $51.00 price objective for the company in a report on Thursday, March 16th. One research analyst has rated the stock with a hold rating and seven have issued a buy rating to the stock. NCR has an average rating of Buy and a consensus target price of $46.29.

Analyst Recommendations for NCR (NYSE:NCR)

NCR (NCR) traded up 0.91% during midday trading on Monday, hitting $39.97. The stock had a trading volume of 276,070 shares. NCR has a 1-year low of $25.20 and a 1-year high of $49.90. The stock has a market cap of $4.85 billion, a price-to-earnings ratio of 27.97 and a beta of 1.82. The company has a 50-day moving average of $41.16 and a 200-day moving average of $42.83.

NCR (NYSE:NCR) last announced its quarterly earnings results on Thursday, April 20th. The information technology services provider reported $0.56 EPS for the quarter, beating the Zacks’ consensus estimate of $0.46 by $0.10. NCR had a negative return on equity of 11.13% and a net margin of 3.86%. The company had revenue of $1.48 billion during the quarter, compared to analysts’ expectations of $1.46 billion. During the same period in the prior year, the company earned $0.38 EPS. NCR’s revenue was up 2.4% compared to the same quarter last year. Equities research analysts forecast that NCR will post $3.37 EPS for the current year.

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In other NCR news, EVP J. Robert Ciminera sold 3,086 shares of the stock in a transaction dated Tuesday, May 2nd. The stock was sold at an average price of $42.48, for a total transaction of $131,093.28. Following the completion of the sale, the executive vice president now directly owns 9,888 shares in the company, valued at approximately $420,042.24. The sale was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Also, major shareholder Holdings L.P. Blackstone III sold 3,002,753 shares of the stock in a transaction dated Friday, March 17th. The stock was sold at an average price of $48.47, for a total value of $145,543,437.91. The disclosure for this sale can be found here. Corporate insiders own 1.20% of the company’s stock.

Hedge funds have recently modified their holdings of the company. Teachers Retirement System of The State of Kentucky acquired a new stake in shares of NCR during the first quarter worth $1,124,000. FNY Partners Fund LP acquired a new stake in shares of NCR during the first quarter worth $107,000. Janus Capital Management LLC increased its stake in shares of NCR by 16.2% in the first quarter. Janus Capital Management LLC now owns 193,200 shares of the information technology services provider’s stock worth $8,825,000 after buying an additional 26,900 shares during the last quarter. Gareth Morgan Investments Limited Partnership acquired a new stake in shares of NCR during the first quarter worth $996,000. Finally, Credit Suisse AG increased its stake in shares of NCR by 79.6% in the first quarter. Credit Suisse AG now owns 222,053 shares of the information technology services provider’s stock worth $10,143,000 after buying an additional 98,422 shares during the last quarter. Hedge funds and other institutional investors own 81.73% of the company’s stock.

NCR Company Profile

NCR Corporation is a provider of Omni-channel technology solutions that enable businesses connect, interact and transact with their customers. The Company operates through three segments: Software, Services and Hardware. It sells a portfolio of hardware, software and services that combine to provide businesses with solutions.

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