NCR Atleos (NYSE:NATL) Reaches New 1-Year High - Here's What Happened

Key Points

• NCR Atleos Corporation's stock reached a new 52-week high of $40.06, closing at $39.77 with a volume of 512,386 shares traded.
• Analysts have raised price targets for NCR Atleos, with Wedbush increasing theirs from $35.00 to $45.00 and Zacks Research upgrading their rating from "strong sell" to "strong-buy."
• The company reported a quarterly earnings per share (EPS) of $0.93, exceeding expectations and indicating a 2.2% revenue growth year-over-year.

NCR Atleos Corporation (NYSE:NATL - Get Free Report)'s stock price reached a new 52-week high during mid-day trading on Tuesday . The company traded as high as $40.06 and last traded at $39.77, with a volume of 512386 shares. The stock had previously closed at $39.74.

Wall Street Analysts Forecast Growth

A number of research analysts recently issued reports on the company. Zacks Research raised NCR Atleos from a "strong sell" rating to a "strong-buy" rating in a report on Wednesday, August 13th. Wedbush lifted their target price on NCR Atleos from $35.00 to $45.00 and gave the stock an "outperform" rating in a report on Friday, August 8th. Wall Street Zen raised NCR Atleos from a "buy" rating to a "strong-buy" rating in a report on Sunday, August 17th. Finally, Stifel Nicolaus lifted their target price on NCR Atleos from $32.00 to $37.00 and gave the stock a "hold" rating in a report on Friday, August 8th. One equities research analyst has rated the stock with a Strong Buy rating, one has assigned a Buy rating and one has given a Hold rating to the company's stock. Based on data from MarketBeat.com, NCR Atleos presently has an average rating of "Buy" and a consensus target price of $41.00.

NCR Atleos Price Performance

The company has a market capitalization of $2.92 billion, a price-to-earnings ratio of 22.55 and a beta of 0.99. The company has a debt-to-equity ratio of 8.00, a current ratio of 1.05 and a quick ratio of 0.84.

NCR Atleos (NYSE:NATL - Get Free Report) last issued its quarterly earnings results on Saturday, August 9th. The company reported $0.93 earnings per share for the quarter, topping analysts' consensus estimates of $0.84 by $0.09. NCR Atleos had a return on equity of 80.62% and a net margin of 3.09%.NCR Atleos's revenue for the quarter was up 2.2% on a year-over-year basis. During the same period in the previous year, the company posted $0.39 EPS.

Hedge Funds Weigh In On NCR Atleos

Several institutional investors and hedge funds have recently bought and sold shares of NATL. Simcoe Capital Management LLC purchased a new position in NCR Atleos during the 2nd quarter valued at about $20,282,000. Engine Capital Management LP grew its stake in NCR Atleos by 22.3% during the 2nd quarter. Engine Capital Management LP now owns 2,415,779 shares of the company's stock valued at $68,922,000 after acquiring an additional 440,741 shares in the last quarter. Brandywine Global Investment Management LLC purchased a new position in NCR Atleos during the 2nd quarter valued at about $3,684,000. Gabelli Funds LLC purchased a new position in NCR Atleos during the 2nd quarter valued at about $3,426,000. Finally, Villanova Investment Management Co LLC grew its stake in NCR Atleos by 176.1% during the 2nd quarter. Villanova Investment Management Co LLC now owns 112,466 shares of the company's stock valued at $3,209,000 after acquiring an additional 71,738 shares in the last quarter. Hedge funds and other institutional investors own 88.66% of the company's stock.

NCR Atleos Company Profile

NCR Atleos Corporation operates as a financial technology company in the United States, rest of the Americas, Europe, the Middle East, Africa, and the Asia Pacific. The company operates through three segments: Self-Service Banking, Network, and Telecommunications & Technology (T&T). The Self-Service Banking segment offers solutions, including a line of automated teller machine (ATM) and interactive teller machine (ITM) hardware and software, as well as related installation, maintenance, and managed and professional services; and solutions to manage and run the ATM channel end-to-end for financial institutions comprising back office, cash management, software management and ATM deployment, and others.