The Providence Service Corporation (NASDAQ:PRSC) was downgraded by Zacks Investment Research from a “hold” rating to a “sell” rating in a research note issued on Tuesday.

According to Zacks, “Providence Service Corporation provides human services and non-emergency transportation (NET) management services to children, adolescents, young adults, and families. The Company focuses on providing its social services in the client’s home or in community-based settings. It provides its NET management services through local transportation providers. The company’s services are reimbursed by government programs such as welfare, juvenile justice, Medicaid or corrections. Providence Service Corporation is based in Tucson, Arizona. “

Other equities analysts have also issued research reports about the stock. TheStreet raised shares of The Providence Service Corporation from a “c+” rating to a “b” rating in a research report on Tuesday, November 7th. Barrington Research reaffirmed an “outperform” rating and set a $67.00 target price on shares of The Providence Service Corporation in a research report on Thursday, November 9th. ValuEngine raised shares of The Providence Service Corporation from a “sell” rating to a “hold” rating in a research report on Thursday, August 10th. Finally, BidaskClub lowered shares of The Providence Service Corporation from a “hold” rating to a “sell” rating in a research report on Wednesday, August 2nd. Two analysts have rated the stock with a sell rating, two have issued a hold rating and one has assigned a buy rating to the stock. The Providence Service Corporation presently has an average rating of “Hold” and a consensus target price of $67.00.

The Providence Service Corporation (PRSC) opened at $55.56 on Tuesday. The Providence Service Corporation has a 52-week low of $34.88 and a 52-week high of $58.01. The company has a market cap of $739.92, a P/E ratio of 42.13, a PEG ratio of 3.26 and a beta of 0.81.

The Providence Service Corporation (NASDAQ:PRSC) last announced its earnings results on Tuesday, November 7th. The company reported $0.32 earnings per share (EPS) for the quarter, topping the Zacks’ consensus estimate of $0.31 by $0.01. The Providence Service Corporation had a net margin of 4.91% and a return on equity of 6.29%. The business had revenue of $409.50 million for the quarter, compared to analyst estimates of $407.00 million. During the same quarter in the previous year, the firm posted $0.35 earnings per share. The Providence Service Corporation’s revenue was down .7% compared to the same quarter last year. equities analysts anticipate that The Providence Service Corporation will post 1.42 earnings per share for the current fiscal year.

WARNING: “The Providence Service Corporation (PRSC) Stock Rating Lowered by Zacks Investment Research” was reported by American Banking News and is the property of of American Banking News. If you are accessing this piece on another website, it was illegally copied and republished in violation of U.S. and international trademark & copyright law. The legal version of this piece can be read at https://www.americanbankingnews.com/2017/11/14/the-providence-service-corporation-prsc-stock-rating-lowered-by-zacks-investment-research.html.

Institutional investors and hedge funds have recently bought and sold shares of the business. BNP Paribas Arbitrage SA boosted its stake in The Providence Service Corporation by 11.4% during the first quarter. BNP Paribas Arbitrage SA now owns 2,256 shares of the company’s stock worth $100,000 after buying an additional 231 shares in the last quarter. Mason Street Advisors LLC acquired a new stake in The Providence Service Corporation during the second quarter worth $107,000. State of Alaska Department of Revenue boosted its stake in The Providence Service Corporation by 79.3% during the second quarter. State of Alaska Department of Revenue now owns 2,385 shares of the company’s stock worth $120,000 after buying an additional 1,055 shares in the last quarter. Municipal Employees Retirement System of Michigan boosted its stake in The Providence Service Corporation by 1.5% during the third quarter. Municipal Employees Retirement System of Michigan now owns 2,700 shares of the company’s stock worth $131,000 after buying an additional 40 shares in the last quarter. Finally, Globeflex Capital L P boosted its stake in The Providence Service Corporation by 18,235.3% during the first quarter. Globeflex Capital L P now owns 3,117 shares of the company’s stock worth $139,000 after buying an additional 3,100 shares in the last quarter. Hedge funds and other institutional investors own 92.88% of the company’s stock.

About The Providence Service Corporation

The Providence Service Corporation (Providence) is a holding company. The Company, through its subsidiaries, is engaged in the provision of healthcare and workforce development services for public and private sector entities. The Company’s segments include Non-Emergency Transportation Services (NET Services), Workforce Development Services (WD Services) and Matrix Investment.

Get a free copy of the Zacks research report on The Providence Service Corporation (PRSC)

For more information about research offerings from Zacks Investment Research, visit Zacks.com

Receive News & Ratings for The Providence Service Corporation Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for The Providence Service Corporation and related companies with MarketBeat.com's FREE daily email newsletter.