Zacks Investment Research Downgrades Franklin Covey (FC) to Sell

Franklin Covey (NYSE:FC) was downgraded by Zacks Investment Research from a “hold” rating to a “sell” rating in a report issued on Tuesday.

According to Zacks, “Franklin Covey Co. is an international learning and performance solutions company dedicated to increasing the effectiveness of individuals and organizations. They provide consulting services, training and education programs, educational materials, publications, assessment and measurement tools, implementation processes, application tools and products designed to empower individuals and organizations to become more effective. “

Separately, B. Riley restated a “buy” rating and set a $22.00 price target on shares of Franklin Covey in a research note on Tuesday, November 7th. Two research analysts have rated the stock with a sell rating, four have assigned a hold rating and one has given a buy rating to the company. The stock currently has a consensus rating of “Hold” and a consensus price target of $22.00.

Franklin Covey (NYSE:FC) opened at $20.55 on Tuesday. Franklin Covey has a 1-year low of $15.20 and a 1-year high of $22.30. The company has a market capitalization of $281.59, a PE ratio of -39.52 and a beta of 0.82. The company has a debt-to-equity ratio of 0.45, a current ratio of 1.14 and a quick ratio of 1.10.

Franklin Covey (NYSE:FC) last released its quarterly earnings data on Thursday, November 9th. The business services provider reported $0.33 EPS for the quarter, missing analysts’ consensus estimates of $0.39 by ($0.06). Franklin Covey had a negative net margin of 3.87% and a negative return on equity of 5.50%. The business had revenue of $59.50 million during the quarter, compared to analysts’ expectations of $64.60 million. During the same quarter in the previous year, the company posted $0.55 EPS. The company’s revenue was down 8.2% compared to the same quarter last year. sell-side analysts forecast that Franklin Covey will post -0.25 earnings per share for the current year.

In other news, Director Joel Clinton Peterson sold 1,793 shares of the firm’s stock in a transaction that occurred on Wednesday, November 1st. The stock was sold at an average price of $19.13, for a total value of $34,300.09. Following the completion of the sale, the director now directly owns 223,487 shares of the company’s stock, valued at approximately $4,275,306.31. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this link. 33.50% of the stock is owned by company insiders.

A number of hedge funds have recently modified their holdings of FC. The Manufacturers Life Insurance Company increased its position in Franklin Covey by 9.0% during the second quarter. The Manufacturers Life Insurance Company now owns 8,948 shares of the business services provider’s stock worth $172,000 after buying an additional 740 shares in the last quarter. California Public Employees Retirement System purchased a new position in Franklin Covey during the first quarter worth $210,000. Wells Fargo & Company MN increased its position in Franklin Covey by 59.0% during the third quarter. Wells Fargo & Company MN now owns 11,011 shares of the business services provider’s stock worth $223,000 after buying an additional 4,087 shares in the last quarter. Teachers Advisors LLC increased its position in Franklin Covey by 13.0% during the second quarter. Teachers Advisors LLC now owns 19,159 shares of the business services provider’s stock worth $370,000 after buying an additional 2,211 shares in the last quarter. Finally, New York State Common Retirement Fund increased its position in Franklin Covey by 18.1% during the second quarter. New York State Common Retirement Fund now owns 21,181 shares of the business services provider’s stock worth $409,000 after buying an additional 3,250 shares in the last quarter. 50.19% of the stock is owned by hedge funds and other institutional investors.

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Franklin Covey Company Profile

Franklin Covey Co is a global company specializing in performance improvement. The Company’s segments are Direct Offices, Strategic Markets, Education practice and International Licensees. The Direct Offices segment consists of its geographic sales offices that serve the United States and Canada, its international sales offices located in Japan, the United Kingdom and Australia, and its public programs group.

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