The Brink’s Company (NYSE:BCO) Sees Significant Drop in Short Interest

The Brink’s Company (NYSE:BCO) saw a significant decline in short interest during the month of November. As of November 15th, there was short interest totalling 1,040,000 shares, a decline of 8.0% from the October 31st total of 1,130,000 shares. Based on an average daily volume of 287,500 shares, the short-interest ratio is currently 3.6 days. Currently, 2.4% of the shares of the stock are short sold.

Analyst Upgrades and Downgrades

Several equities research analysts have recently weighed in on the stock. StockNews.com raised shares of Brink’s from a “buy” rating to a “strong-buy” rating in a research note on Friday, August 16th. Truist Financial decreased their price objective on shares of Brink’s from $144.00 to $138.00 and set a “buy” rating for the company in a research note on Thursday, November 7th. Three investment analysts have rated the stock with a buy rating and one has given a strong buy rating to the company’s stock. Based on data from MarketBeat, the stock currently has an average rating of “Buy” and a consensus price target of $120.50.

Insider Buying and Selling

In other news, EVP James K. Parks sold 4,000 shares of Brink’s stock in a transaction that occurred on Friday, November 22nd. The stock was sold at an average price of $96.51, for a total value of $386,040.00. Following the completion of the transaction, the executive vice president now owns 11,103 shares in the company, valued at approximately $1,071,550.53. The trade was a 26.48 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. 0.49% of the stock is currently owned by company insiders.

Hedge Funds Weigh In On Brink’s

Institutional investors have recently made changes to their positions in the company. LSV Asset Management lifted its holdings in Brink’s by 15,919.2% during the second quarter. LSV Asset Management now owns 800,961 shares of the business services provider’s stock worth $82,018,000 after buying an additional 795,961 shares during the period. Wasatch Advisors LP bought a new stake in Brink’s during the third quarter valued at about $59,308,000. Fiera Capital Corp purchased a new position in Brink’s in the third quarter valued at about $27,460,000. State Street Corp raised its holdings in Brink’s by 5.1% in the third quarter. State Street Corp now owns 1,718,765 shares of the business services provider’s stock worth $198,758,000 after purchasing an additional 82,999 shares in the last quarter. Finally, Swedbank AB purchased a new stake in shares of Brink’s during the second quarter valued at about $7,700,000. Hedge funds and other institutional investors own 94.96% of the company’s stock.

Brink’s Trading Up 0.4 %

BCO stock traded up $0.43 during trading on Monday, hitting $97.14. The company had a trading volume of 314,633 shares, compared to its average volume of 263,065. Brink’s has a 52-week low of $79.03 and a 52-week high of $115.91. The company has a 50 day simple moving average of $104.30 and a 200-day simple moving average of $103.97. The firm has a market capitalization of $4.24 billion, a P/E ratio of 37.03 and a beta of 1.44. The company has a quick ratio of 1.57, a current ratio of 1.57 and a debt-to-equity ratio of 8.76.

Brink’s (NYSE:BCO) last issued its earnings results on Wednesday, November 6th. The business services provider reported $1.51 EPS for the quarter, missing analysts’ consensus estimates of $1.79 by ($0.28). The company had revenue of $1.19 billion for the quarter, compared to analysts’ expectations of $1.27 billion. Brink’s had a return on equity of 71.46% and a net margin of 2.37%. The business’s revenue was down 3.4% compared to the same quarter last year. During the same period last year, the business posted $1.92 earnings per share. As a group, research analysts forecast that Brink’s will post 6.51 earnings per share for the current fiscal year.

Brink’s Announces Dividend

The company also recently declared a quarterly dividend, which will be paid on Monday, December 2nd. Stockholders of record on Monday, November 4th will be given a dividend of $0.2425 per share. This represents a $0.97 dividend on an annualized basis and a dividend yield of 1.00%. The ex-dividend date of this dividend is Monday, November 4th. Brink’s’s payout ratio is 36.74%.

About Brink’s

The Brink's Company provides secure transportation, cash management, and other security-related services in North America, Latin America, Europe, and internationally. The company offers armored vehicle transportation of valuables; automated teller machine (ATM) management services, such as cash replenishment, cash forecasting, cash optimization, ATM remote monitoring, service call dispatching, transaction processing, installation, and first line maintenance services; and cash-in-transit services.