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Pitney Bowes (PBI) Jumps: Stock Rises 14.9%


Pitney Bowes Inc. 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 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. 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

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