Citigroup Lowers Dell (NASDAQ:DELL) Price Target to $65.00

Dell (NASDAQ:DELL) had its target price reduced by Citigroup from $85.00 to $65.00 in a research report issued on Tuesday, BenzingaRatingsTable reports. The brokerage presently has a “buy” rating on the technology company’s stock. Citigroup‘s price objective suggests a potential upside of 32.71% from the stock’s previous close.

Several other analysts have also commented on DELL. UBS Group increased their price target on shares of Dell from $61.00 to $67.00 and gave the company a “neutral” rating in a research report on Friday, May 31st. Morgan Stanley lowered their price target on shares of Dell from $74.00 to $70.00 and set an “equal weight” rating on the stock in a research report on Friday, May 31st. Zacks Investment Research upgraded shares of Dell from a “sell” rating to a “hold” rating in a research report on Wednesday, August 7th. JPMorgan Chase & Co. increased their price target on shares of Dell from $77.00 to $80.00 and gave the company an “overweight” rating in a research report on Tuesday, June 25th. Finally, Barclays initiated coverage on shares of Dell in a research report on Wednesday, August 7th. They issued an “equal weight” rating and a $53.00 price target on the stock. Six analysts have rated the stock with a hold rating and eleven have assigned a buy rating to the stock. Dell presently has a consensus rating of “Buy” and an average price target of $63.63.

DELL stock opened at $48.98 on Tuesday. The company’s 50 day simple moving average is $52.77 and its 200-day simple moving average is $57.48. The firm has a market capitalization of $34.80 billion, a PE ratio of 7.94 and a beta of 0.47. Dell has a 12 month low of $42.02 and a 12 month high of $70.55. The company has a debt-to-equity ratio of 2.81, a current ratio of 0.90 and a quick ratio of 0.82.

Dell (NASDAQ:DELL) last released its quarterly earnings results on Thursday, May 30th. The technology company reported $1.45 EPS for the quarter, beating the consensus estimate of $1.15 by $0.30. The business had revenue of $21.91 billion for the quarter, compared to analyst estimates of $22.24 billion. Dell had a negative net margin of 2.84% and a positive return on equity of 31.57%. The firm’s quarterly revenue was up 2.6% compared to the same quarter last year. As a group, sell-side analysts anticipate that Dell will post 6.23 earnings per share for the current year.

In related news, insider Allison Dew sold 22,590 shares of the company’s stock in a transaction that occurred on Friday, July 19th. The shares were sold at an average price of $58.50, for a total transaction of $1,321,515.00. The sale was disclosed in a filing with the SEC, which is accessible through this hyperlink. Also, CFO Thomas W. Sweet sold 181,531 shares of the company’s stock in a transaction that occurred on Thursday, June 27th. The shares were sold at an average price of $52.27, for a total transaction of $9,488,625.37. The disclosure for this sale can be found here. Insiders have sold 1,599,179 shares of company stock worth $83,688,997 in the last three months. Insiders own 46.00% of the company’s stock.

Several institutional investors and hedge funds have recently made changes to their positions in DELL. Hanson McClain Inc. raised its stake in Dell by 823.4% during the first quarter. Hanson McClain Inc. now owns 434 shares of the technology company’s stock worth $25,000 after purchasing an additional 387 shares during the period. Trustcore Financial Services LLC purchased a new position in Dell during the first quarter worth approximately $26,000. Israel Discount Bank of New York purchased a new position in Dell during the first quarter worth approximately $27,000. B.S. Pension Fund Trustee Ltd acting for the British Steel Pension Fund purchased a new position in Dell during the first quarter worth approximately $27,000. Finally, Lindbrook Capital LLC purchased a new position in Dell during the first quarter worth approximately $28,000. 22.92% of the stock is currently owned by institutional investors and hedge funds.

Dell Company Profile

Dell Inc (Dell) is a global information technology company that offers its customers a range of solutions and services delivered directly by Dell and through other distribution channels. Dell is a holding company that conducts its business worldwide through its subsidiaries. The Company operates in four segments: Large Enterprise, Public, Small and Medium Business, and Consumer.

Recommended Story: Cost of Capital

Analyst Recommendations for Dell (NASDAQ:DELL)

Receive News & Ratings for Dell Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Dell and related companies with MarketBeat.com's FREE daily email newsletter.