The Advisory Board Company (ABCO) Lowered to “Hold” at Canaccord Genuity
Canaccord Genuity downgraded shares of The Advisory Board Company (NASDAQ:ABCO) from a buy rating to a hold rating in a research note published on Tuesday morning. They currently have $54.29 price target on the business services provider’s stock.
A number of other research firms have also recently commented on ABCO. Robert W. Baird reissued an outperform rating and issued a $65.00 target price (up previously from $57.00) on shares of The Advisory Board in a research note on Sunday, July 9th. Zacks Investment Research cut The Advisory Board from a strong-buy rating to a hold rating in a research note on Tuesday, July 25th. BidaskClub cut The Advisory Board from a hold rating to a sell rating in a research note on Saturday, August 5th. Stifel Nicolaus reissued a hold rating and issued a $53.00 target price (up previously from $48.00) on shares of The Advisory Board in a research note on Thursday, July 6th. Finally, Credit Suisse Group increased their target price on The Advisory Board from $54.00 to $55.00 and gave the company an outperform rating in a research note on Friday, May 5th. Two investment analysts have rated the stock with a sell rating, ten have assigned a hold rating and three have assigned a buy rating to the stock. The Advisory Board has an average rating of Hold and a consensus target price of $50.36.
The Advisory Board (NASDAQ:ABCO) opened at 53.05 on Tuesday. The firm has a 50-day moving average price of $54.38 and a 200-day moving average price of $50.13. The firm has a market cap of $2.16 billion, a price-to-earnings ratio of 20.15 and a beta of 1.33. The Advisory Board has a 1-year low of $24.85 and a 1-year high of $59.50.
The Advisory Board (NASDAQ:ABCO) last released its earnings results on Tuesday, August 8th. The business services provider reported $0.24 EPS for the quarter, missing the Zacks’ consensus estimate of $0.32 by $0.08. The firm had revenue of $200.30 million during the quarter, compared to the consensus estimate of $196.16 million. The Advisory Board had a net margin of 13.65% and a return on equity of 12.69%. The firm’s revenue was up 1.0% compared to the same quarter last year. During the same period in the prior year, the company earned $0.46 EPS. On average, analysts expect that The Advisory Board will post $1.90 earnings per share for the current fiscal year.
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Several hedge funds have recently bought and sold shares of ABCO. Janus Henderson Group PLC purchased a new stake in The Advisory Board during the second quarter worth $139,617,000. BlackRock Inc. raised its stake in The Advisory Board by 72,455.6% in the first quarter. BlackRock Inc. now owns 2,545,252 shares of the business services provider’s stock worth $119,119,000 after buying an additional 2,541,744 shares in the last quarter. Elliott Management Corp purchased a new stake in The Advisory Board during the first quarter worth $95,047,000. Neuberger Berman Group LLC raised its stake in The Advisory Board by 20,493.1% in the first quarter. Neuberger Berman Group LLC now owns 1,306,425 shares of the business services provider’s stock worth $61,141,000 after buying an additional 1,300,081 shares in the last quarter. Finally, Janus Capital Management LLC raised its stake in The Advisory Board by 35.4% in the first quarter. Janus Capital Management LLC now owns 3,346,695 shares of the business services provider’s stock worth $156,622,000 after buying an additional 874,688 shares in the last quarter.
About The Advisory Board
The Advisory Board Company is a provider of software and solutions to the healthcare and higher education industries. The Company offers subscription-based membership programs, software and data-enabled services. All of its programs are rooted in best practices and extends across four areas, including Best practices research, Technology, Data-enabled services and Consulting services.
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