Atika Capital Management LLC purchased a new stake in Brink’s (NYSE:BCO) during the 2nd quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The fund purchased 47,000 shares of the business services provider’s stock, valued at approximately $3,816,000. Atika Capital Management LLC owned 0.09% of Brink’s at the end of the most recent reporting period.
Several other hedge funds have also made changes to their positions in the company. William Blair Investment Management LLC grew its stake in Brink’s by 307.1% during the second quarter. William Blair Investment Management LLC now owns 1,668,921 shares of the business services provider’s stock worth $135,483,000 after buying an additional 1,259,015 shares during the last quarter. Iridian Asset Management LLC CT bought a new position in Brink’s in the 2nd quarter worth approximately $78,269,000. Thornburg Investment Management Inc. bought a new position in Brink’s in the first quarter valued at about $10,156,000. Allianz Asset Management GmbH boosted its holdings in Brink’s by 125.1% in the second quarter. Allianz Asset Management GmbH now owns 110,962 shares of the business services provider’s stock valued at $9,008,000 after acquiring an additional 61,669 shares during the last quarter. Finally, Redwood Investments LLC increased its position in Brink’s by 19.2% in the first quarter. Redwood Investments LLC now owns 318,218 shares of the business services provider’s stock worth $23,997,000 after purchasing an additional 51,169 shares during the period.
Several brokerages recently weighed in on BCO. Zacks Investment Research lowered shares of Brink’s from a “hold” rating to a “sell” rating in a report on Tuesday. Imperial Capital raised their price target on Brink’s from $100.00 to $105.00 and gave the stock an “outperform” rating in a research report on Thursday, July 25th. They noted that the move was a valuation call. ValuEngine lowered Brink’s from a “hold” rating to a “sell” rating in a research note on Thursday, September 5th. Finally, Buckingham Research decreased their price objective on shares of Brink’s from $115.00 to $105.00 and set a “neutral” rating for the company in a report on Wednesday, September 4th. Two analysts have rated the stock with a sell rating, one has assigned a hold rating and three have assigned a buy rating to the company’s stock. The company currently has a consensus rating of “Hold” and an average target price of $97.50.
BCO traded up $1.26 during trading on Wednesday, reaching $80.97. The company had a trading volume of 10,086 shares, compared to its average volume of 464,605. The business’s fifty day moving average price is $82.22 and its 200 day moving average price is $80.43. The company has a market cap of $3.85 billion, a P/E ratio of 23.34, a PEG ratio of 1.28 and a beta of 1.52. The company has a debt-to-equity ratio of 7.91, a current ratio of 1.40 and a quick ratio of 1.40. Brink’s has a 12 month low of $59.08 and a 12 month high of $93.81.
Brink’s (NYSE:BCO) last issued its quarterly earnings results on Wednesday, July 24th. The business services provider reported $0.84 EPS for the quarter, beating analysts’ consensus estimates of $0.83 by $0.01. Brink’s had a return on equity of 92.10% and a net margin of 2.20%. The company had revenue of $914.00 million for the quarter, compared to analyst estimates of $898.98 million. During the same period in the previous year, the company posted $0.74 earnings per share. The company’s quarterly revenue was up 7.5% compared to the same quarter last year. As a group, sell-side analysts predict that Brink’s will post 4.14 EPS for the current fiscal year.
The company also recently announced a quarterly dividend, which was paid on Tuesday, September 3rd. Investors of record on Monday, July 29th were issued a dividend of $0.15 per share. The ex-dividend date was Friday, July 26th. This represents a $0.60 dividend on an annualized basis and a yield of 0.74%. Brink’s’s payout ratio is 17.34%.
Brink’s Company Profile
The Brink's Company provides secure transportation, cash management, and other security-related services in North America, South America, and internationally. The company offers cash-in-transit services, including armored vehicle transportation of valuables; automated teller machine (ATM) services, such as cash replenishment, replenishment forecasting, cash optimization, ATM remote monitoring, service call dispatching, transaction processing, installation, and first and second line maintenance; and network infrastructure services.
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