Pitney Bowes Inc. (NYSE:PBI) was a big mover last session, as the company saw its shares rise nearly 15% on the day. The move came on solid volume too with far more shares changing hands than in a normal session. The stock picked up sharply from the near-flat trend of $10.82 to $11.63 in the past one month time frame.
The upside was driven by the news that stated Blackstone (NYSE:BX) and Carlyle have showed their interest in buying out the company.
The company has seen no estimate revisions over the past few weeks and the Zacks Consensus Estimate for the current quarter remained unchanged. The recent price action is encouraging though, so make sure to keep a close watch on this firm in the near future.
Pitney Bowes currently has a Zacks Rank #3 (Hold) while its Earnings ESP is 0.00%.
A better-ranked stock in the Computer and Technology sector is Analog Devices, Inc. (NASDAQ:ADI) , which currently carries a Zacks Rank #1 (Strong Buy). You can see the complete list of today’s Zacks #1 Rank stocks here.
Is PBI going up? Or down? Predict to see what others think: Up or Down
Zacks Editor-in-Chief Goes "All In" on This Stock
Full disclosure, Kevin Matras now has more of his own money in one particular stock than in any other. He believes in its short-term profit potential and also in its prospects to more than double by 2019. Today he reveals and explains his surprising move in a new Special Report.
Pitney Bowes Inc. (PBI): Free Stock Analysis Report
Analog Devices, Inc. (ADI): Free Stock Analysis Report
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