The Advisory Board Co. (ABCO) Stock Rating Lowered by Zacks Investment Research
The Advisory Board Co. (NASDAQ:ABCO) was downgraded by Zacks Investment Research from a “hold” rating to a “sell” rating in a report issued on Monday.
According to Zacks, “The Advisory Board Company provides best practices research and analysis to the health care industry, focusing on business strategy, operations and general management issues. The Company provides its best practices research and analysis through discrete annual programs to a membership of more than 2,000 hospitals, health systems, pharmaceutical and biotech companies, health care insurers, and medical device companies in the United States. Each program provides members with best practices research reports, executive education and other supporting research services. “
ABCO has been the subject of several other reports. Credit Suisse Group AG reaffirmed a “buy” rating and issued a $50.00 price objective on shares of The Advisory Board in a research note on Friday, September 16th. Barclays PLC raised their price objective on The Advisory Board from $44.00 to $50.00 and gave the company an “overweight” rating in a research note on Friday, September 30th. Raymond James Financial Inc. lowered The Advisory Board from an “outperform” rating to a “market perform” rating in a research note on Tuesday, July 19th. William Blair reaffirmed an “outperform” rating on shares of The Advisory Board in a research note on Tuesday, September 27th. Finally, Craig Hallum raised The Advisory Board from a “hold” rating to a “buy” rating and set a $47.00 price objective for the company in a research note on Thursday, July 28th. One analyst has rated the stock with a sell rating, five have assigned a hold rating and eleven have given a buy rating to the company. The company presently has a consensus rating of “Buy” and an average price target of $44.07.
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Shares of The Advisory Board (NASDAQ:ABCO) traded up 0.05% during midday trading on Monday, reaching $43.49. The company had a trading volume of 222,837 shares. The firm’s 50 day moving average price is $43.16 and its 200-day moving average price is $37.33. The stock’s market capitalization is $1.75 billion. The Advisory Board has a 1-year low of $18.87 and a 1-year high of $54.84.
The Advisory Board (NASDAQ:ABCO) last posted its quarterly earnings data on Wednesday, July 27th. The company reported $0.47 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.34 by $0.13. The business earned $198.40 million during the quarter, compared to analyst estimates of $196.49 million. The Advisory Board had a positive return on equity of 11.59% and a negative net margin of 10.21%. The company’s revenue for the quarter was up 7.4% on a year-over-year basis. During the same period last year, the company earned $0.40 EPS. Equities research analysts expect that The Advisory Board will post $1.86 EPS for the current fiscal year.
In related news, Director Leanne M. Zumwalt sold 2,736 shares of the business’s stock in a transaction on Monday, August 1st. The stock was sold at an average price of $41.70, for a total transaction of $114,091.20. The sale was disclosed in a filing with the SEC, which can be accessed through the SEC website. Also, CEO Robert W. Musslewhite sold 5,500 shares of the business’s stock in a transaction on Monday, September 12th. The stock was sold at an average price of $43.09, for a total value of $236,995.00. The disclosure for this sale can be found here. 2.90% of the stock is owned by insiders.
Hedge funds and other institutional investors have recently made changes to their positions in the company. Stoneridge Investment Partners LLC acquired a new position in shares of The Advisory Board during the second quarter valued at $2,287,000. AXA increased its position in shares of The Advisory Board by 28.5% in the first quarter. AXA now owns 27,640 shares of the company’s stock valued at $891,000 after buying an additional 6,129 shares during the period. Royal Bank of Canada increased its position in shares of The Advisory Board by 6.0% in the first quarter. Royal Bank of Canada now owns 1,252,911 shares of the company’s stock valued at $40,406,000 after buying an additional 70,769 shares during the period. Princeton Alpha Management LP acquired a new position in shares of The Advisory Board during the second quarter valued at $236,000. Finally, Douglas Lane & Associates LLC increased its position in shares of The Advisory Board by 31.6% in the second quarter. Douglas Lane & Associates LLC now owns 683,294 shares of the company’s stock valued at $24,182,000 after buying an additional 164,025 shares during the period.
About The Advisory Board
The Advisory Board Company is a provider of software and solutions to the healthcare and higher education industries. The Company’s healthcare programs address a range of clinical and business issues, including physician alignment and engagement, network management and growth strategy, value-based care and population health, revenue cycle, clinical operations and supply chain.
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