Diebold Nixdorf (NYSE:DBD) Stock Price Crosses Above 200 Day Moving Average on Analyst Downgrade

Key Points

• Diebold Nixdorf's stock price surpassed its 200-day moving average of $52.67 after being upgraded from a hold to a strong-buy rating by Wall Street Zen, reaching a high of $58.93 during trading.
• Wedbush raised the price target for Diebold Nixdorf from $60 to $70, contributing to a consensus target price of $75 among analysts.
• The company has authorized a stock buyback plan of $100 million, indicating that the board believes its shares are undervalued.

Diebold Nixdorf, Incorporated (NYSE:DBD - Get Free Report) crossed above its two hundred day moving average during trading on Monday after Wall Street Zen upgraded the stock from a hold rating to a strong-buy rating. The stock has a two hundred day moving average of $52.67 and traded as high as $58.93. Diebold Nixdorf shares last traded at $58.31, with a volume of 128,713 shares.

Separately, Wedbush lifted their price target on shares of Diebold Nixdorf from $60.00 to $70.00 and gave the company an "outperform" rating in a research report on Thursday, August 7th. One investment analyst has rated the stock with a Strong Buy rating, two have issued a Buy rating and one has issued a Sell rating to the company's stock. According to MarketBeat.com, Diebold Nixdorf currently has a consensus rating of "Moderate Buy" and a consensus target price of $75.00.

Insider Activity at Diebold Nixdorf

In other news, major shareholder Millstreet Capital Management sold 38,963 shares of the firm's stock in a transaction that occurred on Thursday, September 18th. The stock was sold at an average price of $60.08, for a total value of $2,340,897.04. Following the transaction, the insider owned 5,968,398 shares in the company, valued at $358,581,351.84. This trade represents a 0.65% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this hyperlink. 0.26% of the stock is currently owned by company insiders.

Hedge Funds Weigh In On Diebold Nixdorf

Several large investors have recently bought and sold shares of the stock. AlphaQuest LLC boosted its holdings in Diebold Nixdorf by 3,621.4% during the 2nd quarter. AlphaQuest LLC now owns 521 shares of the technology company's stock worth $29,000 after acquiring an additional 507 shares during the last quarter. Jones Financial Companies Lllp lifted its position in shares of Diebold Nixdorf by 325.9% during the first quarter. Jones Financial Companies Lllp now owns 1,150 shares of the technology company's stock valued at $50,000 after purchasing an additional 880 shares in the last quarter. State of Wyoming purchased a new position in Diebold Nixdorf during the first quarter worth about $54,000. CWM LLC grew its position in Diebold Nixdorf by 193.3% in the 2nd quarter. CWM LLC now owns 1,320 shares of the technology company's stock worth $73,000 after purchasing an additional 870 shares in the last quarter. Finally, Harbor Capital Advisors Inc. increased its stake in Diebold Nixdorf by 182.3% in the 1st quarter. Harbor Capital Advisors Inc. now owns 1,434 shares of the technology company's stock valued at $63,000 after buying an additional 926 shares during the last quarter. 97.04% of the stock is currently owned by institutional investors.

Diebold Nixdorf Stock Performance

The company's 50-day simple moving average is $59.33 and its 200 day simple moving average is $52.67. The stock has a market cap of $2.14 billion, a P/E ratio of -171.49 and a beta of 1.59. The company has a current ratio of 1.36, a quick ratio of 0.91 and a debt-to-equity ratio of 0.84.

Diebold Nixdorf (NYSE:DBD - Get Free Report) last released its earnings results on Wednesday, August 6th. The technology company reported $0.60 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.61 by ($0.01). The business had revenue of $915.20 million during the quarter, compared to the consensus estimate of $879.57 million. Diebold Nixdorf had a negative net margin of 0.35% and a positive return on equity of 7.92%. As a group, sell-side analysts expect that Diebold Nixdorf, Incorporated will post 4.59 EPS for the current fiscal year.

Diebold Nixdorf declared that its board has authorized a stock buyback plan on Wednesday, August 6th that authorizes the company to buyback $100.00 million in shares. This buyback authorization authorizes the technology company to reacquire up to 4.8% of its stock through open market purchases. Stock buyback plans are typically an indication that the company's board believes its shares are undervalued.

About Diebold Nixdorf

Diebold Nixdorf, Incorporated engages in the automating, digitizing, and transforming the way people bank and shop worldwide. It operates through two segments, Banking and Retail. The company offers cash recyclers and dispensers, intelligent deposit terminals, teller automation tools, and kiosk technologies, as well as physical security solutions; and front-end applications for consumer connection points and back-end platforms that manage channel transactions, operations and integration, and facilitate omnichannel transactions, endpoint monitoring, remote asset management, customer marketing, merchandise management, and analytics.

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