Franklin Covey Company (FC) Raised to “Hold” at Zacks Investment Research
Zacks Investment Research upgraded shares of Franklin Covey Company (NYSE:FC) from a sell rating to a hold rating in a research report report published on Monday morning.
According to Zacks, “Franklin Covey Co. is an international learning and performance solutions company dedicated to increasing the effectiveness of individuals and organizations. They provide consulting services, training and education programs, educational materials, publications, assessment and measurement tools, implementation processes, application tools and products designed to empower individuals and organizations to become more effective. “
FC has been the subject of several other reports. BidaskClub downgraded shares of Franklin Covey from a hold rating to a sell rating in a report on Saturday, July 8th. ValuEngine raised shares of Franklin Covey from a sell rating to a hold rating in a report on Friday, June 2nd. Finally, B. Riley reissued a buy rating and set a $22.00 price target on shares of Franklin Covey in a report on Sunday, July 2nd. One investment analyst has rated the stock with a sell rating, five have issued a hold rating and one has given a buy rating to the stock. The stock has a consensus rating of Hold and a consensus target price of $22.00.
Franklin Covey (NYSE FC) opened at 18.70 on Monday. The stock’s market capitalization is $259.16 million. The stock’s 50 day moving average price is $18.24 and its 200 day moving average price is $19.18. Franklin Covey has a 1-year low of $15.20 and a 1-year high of $22.45.
Franklin Covey (NYSE:FC) last announced its quarterly earnings results on Friday, June 30th. The business services provider reported ($0.23) earnings per share (EPS) for the quarter, missing the consensus estimate of ($0.10) by $0.13. Franklin Covey had a negative net margin of 2.15% and a negative return on equity of 2.02%. The firm had revenue of $43.80 million for the quarter, compared to the consensus estimate of $44.25 million. During the same period in the prior year, the business earned ($0.07) earnings per share. The company’s revenue for the quarter was down 2.0% on a year-over-year basis. On average, equities research analysts predict that Franklin Covey will post ($0.46) earnings per share for the current fiscal year.
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In related news, Director Joel Clinton Peterson sold 1,792 shares of Franklin Covey stock in a transaction dated Monday, July 3rd. The shares were sold at an average price of $19.45, for a total transaction of $34,854.40. Following the completion of the transaction, the director now directly owns 230,657 shares of the company’s stock, valued at approximately $4,486,278.65. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Insiders have sold a total of 5,377 shares of company stock valued at $101,338 over the last three months. 33.50% of the stock is currently owned by insiders.
Several hedge funds and other institutional investors have recently made changes to their positions in the business. Vanguard Group Inc. raised its stake in shares of Franklin Covey by 1.9% in the second quarter. Vanguard Group Inc. now owns 497,768 shares of the business services provider’s stock worth $9,607,000 after acquiring an additional 9,279 shares during the last quarter. JPMorgan Chase & Co. raised its stake in shares of Franklin Covey by 0.7% in the first quarter. JPMorgan Chase & Co. now owns 231,971 shares of the business services provider’s stock worth $4,686,000 after acquiring an additional 1,572 shares during the last quarter. State Street Corp raised its stake in shares of Franklin Covey by 13.6% in the second quarter. State Street Corp now owns 201,339 shares of the business services provider’s stock worth $3,884,000 after acquiring an additional 24,088 shares during the last quarter. Rice Hall James & Associates LLC raised its stake in shares of Franklin Covey by 22.0% in the second quarter. Rice Hall James & Associates LLC now owns 197,696 shares of the business services provider’s stock worth $3,816,000 after acquiring an additional 35,658 shares during the last quarter. Finally, Northern Trust Corp raised its stake in shares of Franklin Covey by 2.7% in the second quarter. Northern Trust Corp now owns 137,853 shares of the business services provider’s stock worth $2,661,000 after acquiring an additional 3,688 shares during the last quarter. 52.02% of the stock is owned by institutional investors.
About Franklin Covey
Franklin Covey Co is a global company specializing in performance improvement. The Company’s segments are Direct Offices, Strategic Markets, Education practice and International Licensees. The Direct Offices segment consists of its geographic sales offices that serve the United States and Canada, its international sales offices located in Japan, the United Kingdom and Australia, and its public programs group.
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