The Advisory Board Co. (NASDAQ:ABCO) had its target price lifted by Barclays PLC from $44.00 to $50.00 in a report issued on Friday morning. The brokerage currently has an overweight rating on the stock.
Several other equities analysts also recently weighed in on the stock. FBR & Co raised their price target on shares of The Advisory Board from $35.00 to $37.00 and gave the stock a mkt perform rating in a research note on Thursday, July 28th. Credit Suisse Group AG began coverage on shares of The Advisory Board in a research report on Monday, June 20th. They set an outperform rating and a $40.00 price objective for the company. Oppenheimer Holdings Inc. restated an outperform rating and set a $49.00 price objective (up from $45.00) on shares of The Advisory Board in a research report on Wednesday, September 28th. Raymond James Financial Inc. cut shares of The Advisory Board from an outperform rating to a market perform rating in a research report on Tuesday, July 19th. Finally, William Blair restated an outperform rating on shares of The Advisory Board in a research report on Tuesday, September 27th. Five investment analysts have rated the stock with a hold rating, eleven have given a buy rating and one has assigned a strong buy rating to the company. The stock has a consensus rating of Buy and an average target price of $44.07.
Shares of The Advisory Board (NASDAQ:ABCO) opened at 43.45 on Friday. The stock has a 50 day moving average of $42.83 and a 200 day moving average of $36.75. The Advisory Board has a 12 month low of $18.87 and a 12 month high of $54.84. The stock’s market cap is $1.75 billion.
The Advisory Board (NASDAQ:ABCO) last posted its quarterly earnings results on Wednesday, July 27th. The company reported $0.47 earnings per share for the quarter, topping the Thomson Reuters’ consensus estimate of $0.34 by $0.13. The firm had revenue of $198.40 million for the quarter, compared to the consensus estimate of $196.49 million. The Advisory Board had a negative net margin of 10.21% and a positive return on equity of 11.59%. The company’s revenue for the quarter was up 7.4% on a year-over-year basis. During the same period last year, the firm posted $0.40 earnings per share. On average, equities analysts anticipate that The Advisory Board will post $1.86 earnings per share for the current fiscal year.
In related news, CEO Robert W. Musslewhite sold 5,500 shares of The Advisory Board stock in a transaction that occurred on Monday, September 12th. The shares were sold at an average price of $43.09, for a total value of $236,995.00. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Also, insider Evan R. Farber sold 2,924 shares of The Advisory Board stock in a transaction that occurred on Wednesday, August 17th. The shares were sold at an average price of $40.95, for a total transaction of $119,737.80. The disclosure for this sale can be found here. 2.90% of the stock is currently owned by corporate insiders.
Hedge funds and other institutional investors have recently modified their holdings of the company. 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 worth $891,000 after buying an additional 6,129 shares in the last quarter. 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 worth $40,406,000 after buying an additional 70,769 shares in the last quarter. Princeton Alpha Management LP purchased a new position in shares of The Advisory Board during the second quarter worth about $236,000. Freshford Capital Management LLC increased its position in shares of The Advisory Board by 172.0% in the second quarter. Freshford Capital Management LLC now owns 546,967 shares of the company’s stock worth $19,357,000 after buying an additional 345,867 shares in the last quarter. Finally, Stoneridge Investment Partners LLC purchased a new position in shares of The Advisory Board during the second quarter worth about $2,287,000.
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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