Franklin Covey (NYSE:FC) Stock Crosses Above 50-Day Moving Average – Here’s What Happened

Franklin Covey Company (NYSE:FC) crossed above its fifty day moving average during trading on Wednesday. The stock has a fifty day moving average of $18.42 and traded as high as $18.99. Franklin Covey shares last traded at $18.4370, with a volume of 66,582 shares changing hands.

Analyst Ratings Changes

Several research firms have commented on FC. Wall Street Zen raised shares of Franklin Covey from a “hold” rating to a “buy” rating in a report on Sunday, August 30th. Weiss Ratings reiterated a “sell (d+)” rating on shares of Franklin Covey in a research note on Friday, October 2nd. Roth Capital boosted their price objective on Franklin Covey from $22.00 to $25.00 and gave the company a “buy” rating in a report on Thursday, July 2nd. Finally, Barrington Research reissued an “outperform” rating and issued a $30.00 price objective on shares of Franklin Covey in a report on Thursday, July 2nd. Two equities research analysts have rated the stock with a Buy rating, one has assigned a Hold rating and one has given a Sell rating to the stock. According to MarketBeat.com, Franklin Covey has an average rating of “Hold” and an average target price of $27.50.

Franklin Covey Stock Performance

The firm’s 50 day moving average is $18.42 and its 200-day moving average is $19.63. The stock has a market capitalization of $208.15 million, a price-to-earnings ratio of 108.45, a PEG ratio of 0.94 and a beta of 0.77.

Institutional Inflows and Outflows

A number of large investors have recently modified their holdings of the company. BlackRock Inc. purchased a new position in Franklin Covey during the second quarter worth approximately $24,191,000. Deutsche Bank AG acquired a new stake in Franklin Covey in the second quarter valued at approximately $1,277,000. Rice Hall James & Associates LLC grew its holdings in Franklin Covey by 6.2% in the first quarter. Rice Hall James & Associates LLC now owns 510,689 shares of the business services provider’s stock valued at $8,064,000 after purchasing an additional 30,035 shares during the period. Bank of America Corp DE purchased a new stake in shares of Franklin Covey in the second quarter valued at approximately $2,438,000. Finally, Quantinno Capital Management LP increased its position in shares of Franklin Covey by 82.8% in the first quarter. Quantinno Capital Management LP now owns 69,312 shares of the business services provider’s stock valued at $1,094,000 after buying an additional 31,395 shares in the last quarter. Institutional investors and hedge funds own 69.88% of the company’s stock.

Franklin Covey Company Profile

Franklin Covey Co (NYSE: FC) is a global professional-services and training company that helps organizations improve leadership, execution, productivity, sales performance and workplace culture. Its services are designed for businesses, government agencies and other institutions seeking to develop employees and improve organizational performance.

The company provides consulting, training, coaching, assessment tools and digital learning solutions. Its offerings address areas such as leadership development, trust, change management, business execution, customer loyalty and individual effectiveness.