Oppenheimer Holdings Inc. Reiterates Outperform Rating for The Advisory Board Co. (ABCO)
The Advisory Board Co. (NASDAQ:ABCO)‘s stock had its “outperform” rating reissued by stock analysts at Oppenheimer Holdings Inc. in a research note issued on Wednesday. They presently have a $49.00 target price on the stock, up from their prior target price of $45.00. Oppenheimer Holdings Inc.’s price target suggests a potential upside of 12.00% from the stock’s current price.
A number of other analysts have also recently issued reports on ABCO. Cantor Fitzgerald restated a “hold” rating on shares of The Advisory Board in a research note on Friday, August 19th. Credit Suisse Group AG restated a “buy” rating and set a $50.00 target price on shares of The Advisory Board in a research note on Friday, September 16th. Craig Hallum upgraded shares of The Advisory Board from a “hold” rating to a “buy” rating and set a $47.00 target price for the company in a research note on Thursday, July 28th. Zacks Investment Research cut shares of The Advisory Board from a “strong-buy” rating to a “hold” rating in a research note on Tuesday, July 12th. Finally, William Blair restated an “outperform” rating on shares of The Advisory Board in a research note on Tuesday. Five research analysts have rated the stock with a hold rating, eleven have given a buy rating and one has issued a strong buy rating to the company’s stock. The company currently has an average rating of “Buy” and a consensus target price of $43.67.
The Advisory Board (NASDAQ:ABCO) opened at 43.75 on Wednesday. The firm’s market capitalization is $1.76 billion. The stock’s 50 day moving average is $42.62 and its 200-day moving average is $36.32. The Advisory Board has a 12 month low of $18.87 and a 12 month high of $54.84.
The Advisory Board (NASDAQ:ABCO) last posted its earnings results on Wednesday, July 27th. The company reported $0.47 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.34 by $0.13. The company earned $198.40 million during the quarter, compared to analysts’ expectations of $196.49 million. The Advisory Board had a negative net margin of 10.21% and a positive return on equity of 11.59%. The Advisory Board’s quarterly revenue was up 7.4% compared to the same quarter last year. During the same quarter last year, the company posted $0.40 EPS. Equities analysts anticipate that The Advisory Board will post $1.86 earnings per share for the current fiscal year.
In other The Advisory Board news, insider Evan R. Farber sold 2,924 shares of the firm’s stock in a transaction dated Wednesday, August 17th. The shares were sold at an average price of $40.95, for a total value of $119,737.80. The transaction was disclosed in a document filed with the SEC, which can be accessed through this link. Also, CEO Robert W. Musslewhite sold 5,500 shares of the firm’s stock in a transaction dated Monday, September 12th. The shares were sold at an average price of $43.09, for a total transaction of $236,995.00. The disclosure for this sale can be found here. 2.90% of the stock is currently owned by company insiders.
A number of institutional investors have recently added to or reduced their stakes in the stock. Bank of Montreal Can purchased a new position in The Advisory Board during the second quarter valued at approximately $8,706,000. Fox Run Management L.L.C. purchased a new position in The Advisory Board during the second quarter valued at approximately $297,000. Royal Bank of Canada raised its position in The Advisory Board by 6.0% in the first quarter. Royal Bank of Canada now owns 1,252,911 shares of the company’s stock valued at $40,406,000 after buying an additional 70,769 shares in the last quarter. A.R.T. Advisors LLC raised its position in The Advisory Board by 615.3% in the first quarter. A.R.T. Advisors LLC now owns 42,781 shares of the company’s stock valued at $1,379,000 after buying an additional 36,800 shares in the last quarter. Finally, Jacobs Levy Equity Management Inc. purchased a new position in The Advisory Board during the first quarter valued at approximately $6,165,000.
The Advisory Board Company Profile
The Advisory Board Company is a provider of software and solutions to the healthcare and higher education industries. The Company’s healthcare programs address a range of clinical and business issues, including physician alignment and engagement, network management and growth strategy, value-based care and population health, revenue cycle, clinical operations and supply chain.
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