Pitney Bowes (NYSE:PBI) Lifted to Buy at ValuEngine

Pitney Bowes (NYSE:PBI) was upgraded by equities research analysts at ValuEngine from a “hold” rating to a “buy” rating in a research note issued on Monday, ValuEngine reports.

A number of other brokerages have also commented on PBI. Maxim Group set a $6.00 price target on shares of Pitney Bowes and gave the company a “buy” rating in a research note on Monday, August 26th. Zacks Investment Research lowered shares of Pitney Bowes from a “hold” rating to a “sell” rating and set a $4.75 price target on the stock. in a research note on Monday, September 9th.

PBI traded up $0.21 on Monday, reaching $4.79. The company had a trading volume of 2,178,600 shares, compared to its average volume of 3,316,618. Pitney Bowes has a fifty-two week low of $3.14 and a fifty-two week high of $8.56. The stock has a market cap of $799.81 million, a P/E ratio of 4.13 and a beta of 1.98. The company’s fifty day moving average is $4.33 and its 200 day moving average is $4.62. The company has a debt-to-equity ratio of 57.19, a quick ratio of 1.19 and a current ratio of 1.23.

Pitney Bowes (NYSE:PBI) last announced its quarterly earnings results on Tuesday, August 6th. The technology company reported $0.21 EPS for the quarter, beating the Zacks’ consensus estimate of $0.17 by $0.04. Pitney Bowes had a net margin of 4.07% and a return on equity of 113.87%. The business had revenue of $860.78 million for the quarter, compared to analyst estimates of $861.66 million. During the same quarter in the prior year, the business earned $0.28 EPS. Pitney Bowes’s quarterly revenue was down .5% on a year-over-year basis. On average, sell-side analysts expect that Pitney Bowes will post 0.66 EPS for the current year.

Several large investors have recently made changes to their positions in the business. Meeder Asset Management Inc. acquired a new position in shares of Pitney Bowes during the 3rd quarter worth approximately $367,000. Everence Capital Management Inc. acquired a new position in shares of Pitney Bowes during the 3rd quarter worth approximately $82,000. Trust Co. of Toledo NA OH grew its position in shares of Pitney Bowes by 25.0% during the 3rd quarter. Trust Co. of Toledo NA OH now owns 13,675 shares of the technology company’s stock worth $62,000 after purchasing an additional 2,739 shares in the last quarter. State of Alaska Department of Revenue grew its position in shares of Pitney Bowes by 113.7% during the 3rd quarter. State of Alaska Department of Revenue now owns 131,288 shares of the technology company’s stock worth $599,000 after purchasing an additional 69,863 shares in the last quarter. Finally, Factorial Partners LLC grew its position in shares of Pitney Bowes by 42.4% during the 2nd quarter. Factorial Partners LLC now owns 84,000 shares of the technology company’s stock worth $360,000 after purchasing an additional 25,000 shares in the last quarter. Hedge funds and other institutional investors own 78.18% of the company’s stock.

Pitney Bowes Company Profile

Pitney Bowes Inc offers customer information management, location intelligence, and customer engagement products and solutions in the United States and internationally. The company operates in three segments: Commerce Services; Small & Medium Business Solutions; and Software Solutions. The Commerce Services segment provides cross-border e-commerce solutions, domestic retail and e-commerce shipping solutions, fulfillment, and delivery and return services; and mail sortation services that allow clients to qualify large volumes of first class mail, marketing mail, and bound and packet mail for postal work sharing discounts.

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