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

The Brink's Company (NYSE:BCO - Get Free Report) was the target of a large decrease in short interest in November. As of November 30th, there was short interest totalling 973,500 shares, a decrease of 6.4% from the November 15th total of 1,040,000 shares. Based on an average daily volume of 291,800 shares, the days-to-cover ratio is currently 3.3 days. Currently, 2.2% of the company's stock are sold short.

Analyst Upgrades and Downgrades

Separately, Truist Financial cut their target price on shares of Brink's from $144.00 to $138.00 and set a "buy" rating on the stock in a report on Thursday, November 7th. Three investment analysts have rated the stock with a buy rating and one has assigned a strong buy rating to the company's stock. According to data from MarketBeat, the stock currently has a consensus rating of "Buy" and an average price target of $120.50.

Insider Activity

In other Brink's news, EVP James K. Parks sold 4,000 shares of the business's stock in a transaction on Friday, November 22nd. The shares were sold at an average price of $96.51, for a total transaction of $386,040.00. Following the completion of the sale, the executive vice president now owns 11,103 shares in the company, valued at $1,071,550.53. The trade was a 26.48 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Company insiders own 0.49% of the company's stock.

Institutional Inflows and Outflows

Institutional investors have recently added to or reduced their stakes in the business. SG Americas Securities LLC raised its stake in shares of Brink's by 219.9% during the second quarter. SG Americas Securities LLC now owns 8,846 shares of the business services provider's stock valued at $906,000 after purchasing an additional 6,081 shares in the last quarter. Wealth Enhancement Advisory Services LLC bought a new position in shares of Brink's in the second quarter valued at approximately $228,000. Swedbank AB acquired a new position in shares of Brink's during the second quarter valued at approximately $7,700,000. MFA Wealth Advisors LLC acquired a new stake in Brink's in the second quarter worth approximately $47,000. Finally, Bailard Inc. lifted its position in Brink's by 168.2% in the second quarter. Bailard Inc. now owns 5,900 shares of the business services provider's stock worth $604,000 after purchasing an additional 3,700 shares during the period. Institutional investors and hedge funds own 94.96% of the company's stock.

Brink's Stock Performance

Shares of BCO traded up $1.96 during midday trading on Monday, hitting $96.58. 300,140 shares of the stock traded hands, compared to its average volume of 262,407. The business's 50 day moving average price is $100.52 and its two-hundred day moving average price is $103.62. The firm has a market capitalization of $4.21 billion, a PE ratio of 36.58 and a beta of 1.40. The company has a debt-to-equity ratio of 8.76, a quick ratio of 1.57 and a current ratio of 1.57. Brink's has a 1-year low of $79.03 and a 1-year high of $115.91.

Brink's (NYSE:BCO - Get Free Report) last posted its earnings results on Wednesday, November 6th. The business services provider reported $1.51 earnings per share (EPS) for the quarter, missing analysts' consensus estimates of $1.79 by ($0.28). Brink's had a net margin of 2.37% and a return on equity of 71.46%. The firm had revenue of $1.19 billion for the quarter, compared to analyst estimates of $1.27 billion. During the same period in the previous year, the firm earned $1.92 earnings per share. The company's revenue for the quarter was down 3.4% on a year-over-year basis. Equities research analysts predict that Brink's will post 6.51 EPS for the current fiscal year.

Brink's Dividend Announcement

The firm also recently announced a quarterly dividend, which was paid on Monday, December 2nd. Shareholders of record on Monday, November 4th were paid a dividend of $0.2425 per share. This represents a $0.97 annualized dividend and a yield of 1.00%. The ex-dividend date was Monday, November 4th. Brink's's payout ratio is currently 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.

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