AllianceBernstein Holding Given New $32.00 Price Target at Sanford C. Bernstein (AB)
Stock analysts at Sanford C. Bernstein hoisted their target price on shares of AllianceBernstein Holding (NYSE:AB) from $31.00 to $32.00 in a report issued on Thursday. Sanford C. Bernstein’s target price would indicate a potential upside of 23.74% from the stock’s previous close.
Other equities research analysts have also recently issued reports about the stock. Analysts at Citigroup Inc. upgraded shares of AllianceBernstein Holding from a “neutral” rating to a “buy” rating in a research note on Thursday. They now have a $30.00 price target on the stock, up previously from $28.00. Separately, analysts at Keefe, Bruyette & Woods upgraded shares of AllianceBernstein Holding from a “market perform” rating to an “outperform” rating in a research note on Monday, July 14th. They now have a $31.00 price target on the stock. One investment analyst has rated the stock with a hold rating and three have assigned a buy rating to the company. The stock presently has an average rating of “Buy” and an average price target of $28.93.
Shares of AllianceBernstein Holding (NYSE:AB) traded down 1.07% on Thursday, hitting $25.86. The stock had a trading volume of 310,285 shares. AllianceBernstein Holding has a 1-year low of $19.25 and a 1-year high of $28.18. The stock’s 50-day moving average is $26.34 and its 200-day moving average is $24.76. The company has a market cap of $2.504 billion and a price-to-earnings ratio of 14.89.
AllianceBernstein Holding (NYSE:AB) last posted its quarterly earnings results on Wednesday, July 30th. The company reported $0.45 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.41 by $0.04. The company had revenue of $754.00 million for the quarter, compared to the consensus estimate of $740.70 million. During the same quarter in the previous year, the company posted $0.41 earnings per share. The company’s revenue for the quarter was up 5.5% on a year-over-year basis. Analysts expect that AllianceBernstein Holding will post $1.82 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.
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