In a report released yesterday, Ian Zaffino from Oppenheimer maintained a Buy rating on NCR Corp (NYSE: NCR), with a price target of $37. The company’s shares closed yesterday at $30.74.
Zaffino observed:
“Under new CEO Michael Hayford, management is focused on whitespace opportunities, new product development and a transition away from a reliance on legacy hardware. Through operational efficiencies and product mix, Software maintenance and Cloud could see 500bps-1000bps of margin expansion over the next 3 years. Over the same timeframe, Services could see a 100bps-200bps improvement, while Hardware aims for reliable breakeven. Guidance (which was developed under ex-CEO Nuti) remains unchanged, but Hayford reserves the right to revise it. We lower 2018/2019 EPS to $3.28/$3.57, from $3.38/$3.68, below 2018 guidance of $3.30-$3.45. We reduce our price target to $37 from $51. Maintain Outperform.”
According to TipRanks.com, Zaffino is a 4-star analyst with an average return of 3.2% and a 56.4% success rate. Zaffino covers the Services sector, focusing on stocks such as Servicemaster Global Holdings, Peak Resorts, and Six Flags.
NCR Corp has an analyst consensus of Moderate Buy, with a price target consensus of $42.67.
See today’s analyst top recommended stocks >>
Based on NCR Corp’s latest earnings release for the quarter ending March 31, the company reported a quarterly revenue of $1.52 billion and net profit of $20 million. In comparison, last year the company earned revenue of $1.48 billion and had a net profit of $57 million.
Based on the recent corporate insider activity of 53 insiders, corporate insider sentiment is positive on the stock. This means that over the past quarter there has been an increase of insiders buying their shares of NCR in relation to earlier this year. Earlier this month, Richard Clemmer, a Director at NCR bought 7,152 shares for a total of $180,016.
TipRanks has tracked 36,000 company insiders and found that a few of them are better than others when it comes to timing their transactions. See which 3 stocks are most likely to make moves following their insider activities.
NCR Corp. engages in the development, manufacture and sale of consumer transaction solutions. It operates through the following segments: Software, Services and Hardware. The Software segment includes industry-based software platforms, applications and application suites for the financial services, retail, hospitality and small business industries.
