Royal Bank of Canada Reaffirms Buy Rating for Bright Horizons Family Solutions (BFAM)

Bright Horizons Family Solutions (NYSE:BFAM)‘s stock had its “buy” rating reaffirmed by investment analysts at Royal Bank of Canada in a report released on Wednesday. They currently have a $89.00 target price on the stock. Royal Bank of Canada’s price target points to a potential downside of 6.01% from the company’s previous close.

A number of other brokerages have also issued reports on BFAM. Zacks Investment Research lowered shares of Bright Horizons Family Solutions from a “buy” rating to a “hold” rating in a research note on Friday, December 8th. Robert W. Baird reissued a “hold” rating on shares of Bright Horizons Family Solutions in a research note on Friday, November 3rd. Citigroup boosted their target price on shares of Bright Horizons Family Solutions from $92.00 to $100.00 and gave the company a “buy” rating in a research note on Friday, November 3rd. BMO Capital Markets reissued a “hold” rating on shares of Bright Horizons Family Solutions in a research note on Wednesday, October 25th. Finally, Credit Suisse Group boosted their target price on shares of Bright Horizons Family Solutions from $83.00 to $90.00 and gave the company a “neutral” rating in a research note on Thursday, November 2nd. Five equities research analysts have rated the stock with a hold rating and four have assigned a buy rating to the company’s stock. The company presently has an average rating of “Hold” and an average target price of $93.17.

Bright Horizons Family Solutions (BFAM) traded down $0.02 during midday trading on Wednesday, reaching $94.69. 237,825 shares of the company’s stock traded hands, compared to its average volume of 279,878. The company has a debt-to-equity ratio of 1.35, a current ratio of 0.49 and a quick ratio of 0.49. The stock has a market capitalization of $5,609.44, a price-to-earnings ratio of 39.74, a price-to-earnings-growth ratio of 1.90 and a beta of 0.13. Bright Horizons Family Solutions has a 52 week low of $65.00 and a 52 week high of $95.40.

Bright Horizons Family Solutions (NYSE:BFAM) last posted its quarterly earnings data on Wednesday, November 1st. The company reported $0.62 EPS for the quarter, topping the consensus estimate of $0.57 by $0.05. The company had revenue of $433.30 million during the quarter, compared to analyst estimates of $429.36 million. Bright Horizons Family Solutions had a net margin of 7.22% and a return on equity of 19.72%. Bright Horizons Family Solutions’s quarterly revenue was up 12.9% compared to the same quarter last year. During the same period in the previous year, the firm earned $0.49 earnings per share. research analysts anticipate that Bright Horizons Family Solutions will post 2.5 EPS for the current fiscal year.

In related news, Director Joshua Bekenstein sold 3,504,999 shares of Bright Horizons Family Solutions stock in a transaction dated Tuesday, November 14th. The stock was sold at an average price of $87.26, for a total value of $305,846,212.74. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, CFO Elizabeth J. Boland sold 10,000 shares of Bright Horizons Family Solutions stock in a transaction dated Tuesday, September 26th. The shares were sold at an average price of $82.33, for a total value of $823,300.00. Following the completion of the sale, the chief financial officer now owns 150,717 shares of the company’s stock, valued at $12,408,530.61. The disclosure for this sale can be found here. Insiders sold 3,613,792 shares of company stock valued at $315,248,860 over the last 90 days. 2.90% of the stock is currently owned by corporate insiders.

Several hedge funds have recently added to or reduced their stakes in BFAM. Aperio Group LLC raised its holdings in shares of Bright Horizons Family Solutions by 33.0% in the second quarter. Aperio Group LLC now owns 6,094 shares of the company’s stock valued at $471,000 after acquiring an additional 1,512 shares in the last quarter. Russell Investments Group Ltd. raised its holdings in shares of Bright Horizons Family Solutions by 7.2% in the second quarter. Russell Investments Group Ltd. now owns 6,682 shares of the company’s stock valued at $516,000 after acquiring an additional 446 shares in the last quarter. Public Employees Retirement Association of Colorado bought a new stake in shares of Bright Horizons Family Solutions in the second quarter valued at about $123,000. Teacher Retirement System of Texas raised its holdings in shares of Bright Horizons Family Solutions by 6.9% in the second quarter. Teacher Retirement System of Texas now owns 3,801 shares of the company’s stock valued at $293,000 after acquiring an additional 247 shares in the last quarter. Finally, Rhumbline Advisers raised its holdings in Bright Horizons Family Solutions by 10.6% in the second quarter. Rhumbline Advisers now owns 57,040 shares of the company’s stock worth $4,404,000 after purchasing an additional 5,455 shares in the last quarter. Hedge funds and other institutional investors own 98.70% of the company’s stock.

TRADEMARK VIOLATION WARNING: “Royal Bank of Canada Reaffirms Buy Rating for Bright Horizons Family Solutions (BFAM)” was posted by Community Financial News and is owned by of Community Financial News. If you are reading this news story on another website, it was illegally stolen and reposted in violation of U.S. and international trademark & copyright law. The legal version of this news story can be read at https://www.com-unik.info/2017/12/20/royal-bank-of-canada-reaffirms-buy-rating-for-bright-horizons-family-solutions-bfam.html.

Bright Horizons Family Solutions Company Profile

Bright Horizons Family Solutions Inc is a provider of child care, early education and other services. The Company provides services under multi-year contracts with employers offering child care and other dependent care solutions as part of their employee benefits packages. Its segments include full service center-based care services, back-up dependent care services and other educational advisory services.

Analyst Recommendations for Bright Horizons Family Solutions (NYSE:BFAM)

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

Comments

Leave a Reply


share news on Facebook
tweet this investment news
share on linkedin
share on StockTwits
share on Google Plus
share on reddit