AllianceBernstein Holding Sets New 1-Year High at $26.75 (AB)
AllianceBernstein Holding (NYSE:AB)’s share price hit a new 52-week high during trading on Thursday , Analyst Ratings News reports. The stock traded as high as $26.75 and last traded at $26.60, with a volume of 204,041 shares. The stock had previously closed at $26.18.
A number of analysts have recently weighed in on AB shares. Analysts at Citigroup Inc. reiterated a “neutral” rating on shares of AllianceBernstein Holding in a research note on Thursday, June 12th. They now have a $27.00 price target on the stock, up previously from $26.00. Separately, analysts at Morgan Stanley cut their price target on shares of AllianceBernstein Holding from $27.00 to $26.00 in a research note on Monday, June 9th. Finally, analysts at Zacks downgraded shares of AllianceBernstein Holding from an “outperform” rating to a “neutral” rating in a research note on Tuesday, April 15th. They now have a $27.60 price target on the stock. Two equities research analysts have rated the stock with a hold rating and one has assigned a buy rating to the company’s stock. AllianceBernstein Holding currently has an average rating of “Hold” and an average price target of $26.90.
The stock has a 50-day moving average of $24.86 and a 200-day moving average of $24.01. The company has a market cap of $2.557 billion and a price-to-earnings ratio of 15.33. AllianceBernstein Holding also was the target of a large drop in short interest during the month of June. As of June 13th, there was short interest totalling 1,205,280 shares, a drop of 53.4% from the May 30th total of 2,588,334 shares. Currently, 1.4% of the shares of the company are short sold. Based on an average trading volume of 444,505 shares, the days-to-cover ratio is presently 2.7 days.
AllianceBernstein Holding (NYSE:AB) last issued its quarterly earnings data on Wednesday, April 30th. The company reported $0.39 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.41 by $0.02. The company had revenue of $715.00 million for the quarter, compared to the consensus estimate of $723.35 million. During the same quarter in the previous year, the company posted $0.38 earnings per share. The company’s revenue for the quarter was up .7% on a year-over-year basis. Analysts expect that AllianceBernstein Holding will post $1.74 EPS for the current fiscal year.
AllianceBernstein Holding L.P provides research, diversified investment management and related services globally to a range of clients through three buy-side distribution channels, Institutions, Retail and Private Client, and its sell-side business, Bernstein Research Services.