The Advisory Board Co. (ABCO) Price Target Raised to $50.00
The Advisory Board Co. (NASDAQ:ABCO) had its price target increased by equities researchers at Barclays PLC from $44.00 to $50.00 in a research report issued on Friday. The firm presently has an “overweight” rating on the stock. Barclays PLC’s price target would indicate a potential upside of 14.29% from the company’s previous close.
Other equities research analysts also recently issued reports about the stock. Zacks Investment Research downgraded shares of The Advisory Board from a “strong-buy” rating to a “hold” rating in a report on Tuesday, July 12th. Cantor Fitzgerald reiterated a “hold” rating and set a $37.00 price target on shares of The Advisory Board in a research report on Thursday, July 28th. Canaccord Genuity set a $50.00 price target on The Advisory Board and gave the company a “buy” rating in a research report on Wednesday. Oppenheimer Holdings Inc. reiterated an “outperform” rating and set a $49.00 price target (up from $45.00) on shares of The Advisory Board in a research report on Wednesday. Finally, William Blair reiterated an “outperform” rating on shares of The Advisory Board in a research report on Tuesday. Five investment analysts have rated the stock with a hold rating, eleven have assigned a buy rating and one has given a strong buy rating to the company’s stock. The Advisory Board currently has a consensus rating of “Buy” and a consensus price target of $44.07.
The Advisory Board (NASDAQ:ABCO) traded up 0.37% during midday trading on Friday, hitting $43.91. 14,437 shares of the stock were exchanged. The Advisory Board has a 1-year low of $18.87 and a 1-year high of $54.84. The company’s market capitalization is $1.77 billion. The company’s 50 day moving average is $42.62 and its 200 day moving average is $36.32.
The Advisory Board (NASDAQ:ABCO) last released its quarterly earnings data on Wednesday, July 27th. The company reported $0.47 EPS for the quarter, beating the Thomson Reuters’ consensus estimate of $0.34 by $0.13. The business had revenue of $198.40 million for the quarter, compared to the consensus estimate 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 company’s revenue was up 7.4% compared to the same quarter last year. During the same period in the prior year, the firm earned $0.40 earnings per share. Analysts predict that The Advisory Board will post $1.86 earnings per share for the current fiscal year.
In other The Advisory Board news, CEO Robert W. Musslewhite sold 5,500 shares of the stock in a transaction that occurred on Monday, September 12th. The shares were sold at an average price of $43.09, for a total transaction of $236,995.00. The sale was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink. Also, Director Leanne M. Zumwalt sold 2,736 shares of the stock in a transaction that occurred on Monday, August 1st. The shares were sold at an average price of $41.70, for a total transaction of $114,091.20. The disclosure for this sale can be found here. Company insiders own 2.90% of the company’s stock.
Hedge funds and other institutional investors have recently modified their holdings of the stock. Bank of Montreal Can acquired a new position in shares of The Advisory Board during the second quarter worth approximately $8,706,000. Fox Run Management L.L.C. bought a new stake in The Advisory Board during the second quarter worth $297,000. Royal Bank of Canada raised its stake 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 worth $40,406,000 after buying an additional 70,769 shares during the period. A.R.T. Advisors LLC raised its stake 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 worth $1,379,000 after buying an additional 36,800 shares during the period. Finally, Jacobs Levy Equity Management Inc. bought a new stake in The Advisory Board during the first quarter worth $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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