Free Trial

Pitney Bowes (NYSE:PBI) Rating Increased to Strong-Buy at Zacks Research

Pitney Bowes logo with Computer and Technology background
Image from MarketBeat Media, LLC.

Pitney Bowes (NYSE:PBI - Get Free Report) was upgraded by stock analysts at Zacks Research from a "hold" rating to a "strong-buy" rating in a research note issued on Thursday,Zacks.com reports.

A number of other equities research analysts have also recently commented on PBI. Weiss Ratings cut shares of Pitney Bowes from a "hold (c+)" rating to a "hold (c)" rating in a research note on Friday, April 24th. Bank of America assumed coverage on shares of Pitney Bowes in a research note on Tuesday, February 17th. They issued an "underperform" rating and a $9.00 price objective on the stock. The Goldman Sachs Group set a $15.20 price objective on shares of Pitney Bowes in a research note on Friday. Wall Street Zen upgraded Pitney Bowes from a "buy" rating to a "strong-buy" rating in a report on Saturday, April 25th. Finally, Truist Financial raised their price target on shares of Pitney Bowes from $11.00 to $15.00 and gave the stock a "hold" rating in a research note on Thursday. One research analyst has rated the stock with a Strong Buy rating, two have given a Buy rating, three have given a Hold rating and one has issued a Sell rating to the stock. According to data from MarketBeat.com, the stock has a consensus rating of "Hold" and an average price target of $13.30.

Get Our Latest Research Report on PBI

Pitney Bowes Price Performance

PBI opened at $15.69 on Thursday. The stock has a market cap of $2.12 billion, a P/E ratio of 15.23, a P/E/G ratio of 0.98 and a beta of 1.64. The stock's 50 day simple moving average is $11.94 and its 200 day simple moving average is $10.87. Pitney Bowes has a 1-year low of $8.95 and a 1-year high of $15.95.

Pitney Bowes (NYSE:PBI - Get Free Report) last released its quarterly earnings results on Tuesday, May 5th. The technology company reported $0.47 earnings per share for the quarter, hitting analysts' consensus estimates of $0.47. The business had revenue of $477.41 million for the quarter, compared to analysts' expectations of $471.83 million. Pitney Bowes had a negative return on equity of 33.41% and a net margin of 8.92%.The company's revenue was down 3.2% compared to the same quarter last year. During the same quarter in the prior year, the firm posted $0.33 EPS. Research analysts expect that Pitney Bowes will post 1.6 EPS for the current fiscal year.

Insiders Place Their Bets

In other news, Director Brent D. Rosenthal bought 4,000 shares of Pitney Bowes stock in a transaction dated Friday, March 13th. The shares were acquired at an average cost of $10.22 per share, with a total value of $40,880.00. Following the completion of the transaction, the director owned 9,000 shares in the company, valued at approximately $91,980. This trade represents a 80.00% increase in their position. The purchase was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, CEO Kurt James Wolf sold 966,561 shares of the business's stock in a transaction on Wednesday, May 6th. The stock was sold at an average price of $14.58, for a total transaction of $14,092,459.38. Following the transaction, the chief executive officer directly owned 452,628 shares in the company, valued at approximately $6,599,316.24. The trade was a 68.11% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. Over the last three months, insiders have sold 2,456,054 shares of company stock worth $34,864,180. Corporate insiders own 6.50% of the company's stock.

Institutional Inflows and Outflows

Several institutional investors have recently modified their holdings of the business. Dimensional Fund Advisors LP lifted its stake in shares of Pitney Bowes by 9.0% in the first quarter. Dimensional Fund Advisors LP now owns 2,331,315 shares of the technology company's stock worth $25,760,000 after acquiring an additional 193,145 shares in the last quarter. KBC Group NV lifted its stake in shares of Pitney Bowes by 76.6% in the first quarter. KBC Group NV now owns 8,013 shares of the technology company's stock worth $89,000 after acquiring an additional 3,475 shares in the last quarter. Fifth Third Bancorp lifted its stake in shares of Pitney Bowes by 10,220.1% in the first quarter. Fifth Third Bancorp now owns 95,874 shares of the technology company's stock worth $1,059,000 after acquiring an additional 94,945 shares in the last quarter. HB Wealth Management LLC raised its holdings in Pitney Bowes by 3.0% in the first quarter. HB Wealth Management LLC now owns 62,446 shares of the technology company's stock valued at $690,000 after acquiring an additional 1,807 shares in the last quarter. Finally, Janney Montgomery Scott LLC raised its holdings in Pitney Bowes by 10.1% in the first quarter. Janney Montgomery Scott LLC now owns 149,945 shares of the technology company's stock valued at $1,657,000 after acquiring an additional 13,727 shares in the last quarter. Institutional investors and hedge funds own 67.88% of the company's stock.

Trending Headlines about Pitney Bowes

Here are the key news stories impacting Pitney Bowes this week:

Pitney Bowes Company Profile

(Get Free Report)

Pitney Bowes Inc NYSE: PBI is an American technology company that specializes in shipping, mailing, and e-commerce solutions. Founded in 1920 by Walter Bowes and Arthur Pitney, the company pioneered postage meter technology and has since evolved to offer a broad portfolio of hardware, software, and services designed to streamline physical and digital communications. Headquartered in Stamford, Connecticut, Pitney Bowes leverages a century of expertise to serve enterprises, small businesses, and government agencies around the globe.

The company's core offerings span mailing and shipping equipment, including postage meters, folder inserters, and address verification systems, alongside integrated software platforms for customer information management, data analytics, and location intelligence.

Read More

Analyst Recommendations for Pitney Bowes (NYSE:PBI)

This instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest reporting and unbiased coverage. Please send any questions or comments about this story to contact@marketbeat.com.

Should You Invest $1,000 in Pitney Bowes Right Now?

Before you consider Pitney Bowes, you'll want to hear this.

MarketBeat keeps track of Wall Street's top-rated and best performing research analysts and the stocks they recommend to their clients on a daily basis. MarketBeat has identified the five stocks that top analysts are quietly whispering to their clients to buy now before the broader market catches on... and Pitney Bowes wasn't on the list.

While Pitney Bowes currently has a Hold rating among analysts, top-rated analysts believe these five stocks are better buys.

View The Five Stocks Here

7 Stocks to Buy And Hold Forever Cover

Click the link to see MarketBeat's list of seven stocks and why their long-term outlooks are very promising.

Get This Free Report
Like this article? Share it with a colleague.

Featured Articles and Offers

Recent Videos

Stock Lists

All Stock Lists

Investing Tools

Calendars and Tools

Search Headlines