The Advisory Board Company (ABCO) Downgraded by Zacks Investment Research to Hold
The Advisory Board Company (NASDAQ:ABCO) was downgraded by Zacks Investment Research from a “strong-buy” rating to a “hold” rating in a note issued to investors on Tuesday.
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 topic of a number of other research reports. Robert W. Baird reiterated an “outperform” rating and issued a $65.00 price objective (up previously from $57.00) on shares of The Advisory Board in a report on Sunday, July 9th. Credit Suisse Group boosted their price objective on shares of The Advisory Board from $54.00 to $55.00 and gave the stock an “outperform” rating in a report on Friday, May 5th. TheStreet lowered shares of The Advisory Board from a “b-” rating to a “c” rating in a report on Friday, May 5th. Finally, Stifel Nicolaus reiterated a “hold” rating and issued a $53.00 price objective (up previously from $48.00) on shares of The Advisory Board in a report on Thursday, July 6th. One equities research analyst has rated the stock with a sell rating, seven have given a hold rating and six have given a buy rating to the company. The Advisory Board currently has a consensus rating of “Hold” and a consensus target price of $49.31.
Shares of The Advisory Board (ABCO) traded down 0.26% during trading on Tuesday, hitting $57.05. The company’s stock had a trading volume of 272,560 shares. The company has a market cap of $2.32 billion, a PE ratio of 23.12 and a beta of 1.31. The firm’s 50 day moving average price is $53.34 and its 200-day moving average price is $48.42. The Advisory Board has a 52 week low of $24.85 and a 52 week high of $59.50.
The Advisory Board (NASDAQ:ABCO) last issued its quarterly earnings data on Thursday, May 4th. The business services provider reported $0.38 EPS for the quarter, topping analysts’ consensus estimates of $0.26 by $0.12. The Advisory Board had a net margin of 12.78% and a return on equity of 14.48%. The firm had revenue of $194.50 million for the quarter, compared to analyst estimates of $188.43 million. During the same quarter in the previous year, the business posted $0.44 EPS. The firm’s revenue was down 3.1% compared to the same quarter last year. On average, analysts predict that The Advisory Board will post $1.97 earnings per share for the current year.
Large investors have recently made changes to their positions in the stock. Norges Bank acquired a new stake in shares of The Advisory Board during the fourth quarter worth $12,464,000. Teachers Advisors LLC increased its stake in shares of The Advisory Board by 4.7% in the fourth quarter. Teachers Advisors LLC now owns 72,192 shares of the business services provider’s stock worth $2,400,000 after buying an additional 3,219 shares in the last quarter. Highbridge Capital Management LLC acquired a new stake in shares of The Advisory Board during the fourth quarter worth $217,000. Confluence Investment Management LLC increased its stake in shares of The Advisory Board by 6.9% in the first quarter. Confluence Investment Management LLC now owns 784,882 shares of the business services provider’s stock worth $36,732,000 after buying an additional 50,775 shares in the last quarter. Finally, Nisa Investment Advisors LLC increased its stake in shares of The Advisory Board by 218.3% in the first quarter. Nisa Investment Advisors LLC now owns 23,870 shares of the business services provider’s stock worth $1,117,000 after buying an additional 16,370 shares in the last quarter.
About The Advisory Board
The Advisory Board Company is a provider of software and solutions to the healthcare and higher education industries. The Company offers subscription-based membership programs, software and data-enabled services. All of its programs are rooted in best practices and extends across four areas, including Best practices research, Technology, Data-enabled services and Consulting services.
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