Franklin Covey (NYSE:FC) Shares Gap Down After Analyst Downgrade

Franklin Covey Co. (NYSE:FC)’s stock price gapped down before the market opened on Thursday after Northland Securities lowered their price target on the stock from $100.00 to $95.00. The stock had previously closed at $38.30, but opened at $35.66. Northland Securities currently has an outperform rating on the stock. Franklin Covey shares last traded at $37.78, with a volume of 78,593 shares traded.

A number of other research analysts also recently issued reports on FC. StockNews.com upgraded Franklin Covey from a “hold” rating to a “buy” rating in a report on Thursday, February 8th. Barrington Research reduced their price target on Franklin Covey from $55.00 to $45.00 and set an “outperform” rating for the company in a research report on Thursday. Finally, Roth Mkm reduced their price target on Franklin Covey from $61.00 to $59.00 and set a “buy” rating for the company in a research report on Tuesday, December 19th. Three research analysts have rated the stock with a buy rating and one has issued a strong buy rating to the company’s stock. According to MarketBeat, the stock currently has an average rating of “Buy” and an average target price of $66.33.

Institutional Trading of Franklin Covey

Hedge funds have recently made changes to their positions in the business. Hsbc Holdings PLC lifted its position in shares of Franklin Covey by 120.4% in the third quarter. Hsbc Holdings PLC now owns 14,224 shares of the business services provider’s stock valued at $609,000 after buying an additional 7,770 shares during the last quarter. Worth Venture Partners LLC lifted its position in shares of Franklin Covey by 8.7% in the third quarter. Worth Venture Partners LLC now owns 48,178 shares of the business services provider’s stock valued at $2,068,000 after buying an additional 3,855 shares during the last quarter. Quadrature Capital Ltd lifted its position in shares of Franklin Covey by 54.7% in the third quarter. Quadrature Capital Ltd now owns 9,021 shares of the business services provider’s stock valued at $387,000 after buying an additional 3,189 shares during the last quarter. Legato Capital Management LLC lifted its position in shares of Franklin Covey by 8.8% in the fourth quarter. Legato Capital Management LLC now owns 6,047 shares of the business services provider’s stock valued at $263,000 after buying an additional 489 shares during the last quarter. Finally, Trexquant Investment LP lifted its position in shares of Franklin Covey by 81.1% in the third quarter. Trexquant Investment LP now owns 18,964 shares of the business services provider’s stock valued at $814,000 after buying an additional 8,490 shares during the last quarter. 69.88% of the stock is owned by institutional investors and hedge funds.

Franklin Covey Stock Performance

The company has a market capitalization of $520.57 million, a price-to-earnings ratio of 30.36, a PEG ratio of 1.15 and a beta of 1.22. The stock has a 50-day moving average price of $39.79 and a 200-day moving average price of $40.07. The company has a debt-to-equity ratio of 0.07, a current ratio of 0.87 and a quick ratio of 0.84.

Franklin Covey (NYSE:FC) last announced its earnings results on Thursday, January 4th. The business services provider reported $0.36 earnings per share for the quarter, topping analysts’ consensus estimates of $0.19 by $0.17. The company had revenue of $68.40 million for the quarter, compared to analyst estimates of $65.88 million. Franklin Covey had a return on equity of 22.81% and a net margin of 6.43%. As a group, analysts forecast that Franklin Covey Co. will post 1.69 earnings per share for the current year.

Franklin Covey Company Profile

Franklin Covey Co provides training and consulting services in the areas of execution, sales performance, productivity, customer loyalty, and educational improvement for organizations and individuals worldwide. The company operates through Direct Offices, International Licensees, and Education Practice segments.