Advantage Solutions (NASDAQ:ADV) Stock Price Up 35.3% – Here’s Why

Advantage Solutions Inc. (NASDAQ:ADV)’s share price was up 35.3% during trading on Wednesday. The stock traded as high as $38.41 and last traded at $39.4440. 13,265 shares changed hands during mid-day trading, a decline of 84% from the average daily volume of 82,913 shares. The stock had previously closed at $29.15.

Analyst Upgrades and Downgrades

Several analysts have recently weighed in on ADV shares. Morgan Stanley reduced their price objective on shares of Advantage Solutions from $35.00 to $34.00 and set an “equal weight” rating for the company in a research report on Thursday, August 6th. Weiss Ratings reaffirmed a “sell (d-)” rating on shares of Advantage Solutions in a research report on Friday. Zacks Research upgraded shares of Advantage Solutions from a “strong sell” rating to a “hold” rating in a research note on Monday, October 5th. Finally, Wall Street Zen cut shares of Advantage Solutions from a “hold” rating to a “sell” rating in a research report on Saturday, August 8th. One research analyst has rated the stock with a Buy rating, two have assigned a Hold rating and one has assigned a Sell rating to the stock. Based on data from MarketBeat, the stock currently has a consensus rating of “Hold” and a consensus target price of $42.00.

Advantage Solutions Price Performance

The firm has a market capitalization of $472.84 million, a price-to-earnings ratio of -1.73 and a beta of 2.21. The company has a fifty day moving average price of $30.89 and a two-hundred day moving average price of $30.17. The company has a quick ratio of 1.79, a current ratio of 1.79 and a debt-to-equity ratio of 3.77.

Advantage Solutions (NASDAQ:ADV) last announced its earnings results on Wednesday, November 4th. The company reported ($1.96) EPS for the quarter, missing analysts’ consensus estimates of ($0.10) by ($1.86). Advantage Solutions had a negative net margin of 7.65% and a negative return on equity of 48.15%. The business had revenue of $913.74 million during the quarter, compared to analyst estimates of $899.50 million. On average, equities research analysts expect that Advantage Solutions Inc. will post 0.24 EPS for the current fiscal year.

Institutional Trading of Advantage Solutions

Several institutional investors and hedge funds have recently added to or reduced their stakes in ADV. State Street Corp purchased a new position in shares of Advantage Solutions in the 2nd quarter valued at approximately $3,913,000. Squarepoint Ops LLC purchased a new stake in shares of Advantage Solutions during the second quarter worth approximately $456,000. State of Wyoming purchased a new stake in shares of Advantage Solutions during the third quarter worth approximately $93,000. Finally, Bank of New York Mellon Corp lifted its holdings in shares of Advantage Solutions by 7.8% during the second quarter. Bank of New York Mellon Corp now owns 12,187 shares of the company’s stock worth $527,000 after purchasing an additional 887 shares during the period. 49.82% of the stock is owned by hedge funds and other institutional investors.

Advantage Solutions Company Profile

Advantage Solutions Inc is a provider of outsourced sales and marketing services for consumer goods manufacturers, retailers and other brands. The company helps clients improve how their products are presented, promoted and sold across retail, e-commerce and other consumer channels.

Its services include retail merchandising, sales representation, brand marketing, experiential marketing, digital and omnichannel marketing, category management, analytics and business intelligence. Advantage Solutions also provides services designed to support product launches, in-store execution, shopper engagement and connections between brands and consumers.

The company serves clients primarily in the United States and Canada, working across categories such as food and beverage, consumer packaged goods, health and wellness, beauty and household products.