BidaskClub Downgrades Franklin Covey Company (NYSE:FC) to Strong Sell
BidaskClub cut shares of Franklin Covey Company (NYSE:FC) from a sell rating to a strong sell rating in a research note issued to investors on Friday.
A number of other brokerages have also issued reports on FC. B. Riley reiterated a buy rating and set a $24.00 target price on shares of Franklin Covey in a research report on Sunday, April 2nd. Zacks Investment Research lowered shares of Franklin Covey from a hold rating to a sell rating in a research report on Monday, July 3rd. Finally, ValuEngine upgraded shares of Franklin Covey from a sell rating to a hold rating in a research report on Friday, June 2nd. Two research analysts have rated the stock with a sell rating, four have given a hold rating and one has given a buy rating to the company’s stock. Franklin Covey currently has an average rating of Hold and a consensus target price of $22.00.
Shares of Franklin Covey (NYSE FC) traded down 1.07% during midday trading on Friday, reaching $18.45. The company had a trading volume of 7,274 shares. The company’s market capitalization is $255.70 million. The firm’s 50 day moving average price is $19.37 and its 200-day moving average price is $19.08. Franklin Covey has a 12 month low of $15.20 and a 12 month high of $22.45.
Franklin Covey (NYSE:FC) last issued its quarterly earnings data on Friday, June 30th. The business services provider reported ($0.23) earnings per share for the quarter, missing the Thomson Reuters’ consensus estimate of ($0.10) by $0.13. Franklin Covey had a negative return on equity of 2.02% and a negative net margin of 2.15%. The firm had revenue of $43.80 million for the quarter, compared to the consensus estimate of $44.25 million. During the same period in the prior year, the company posted ($0.07) earnings per share. Franklin Covey’s quarterly revenue was down 2.0% compared to the same quarter last year. Analysts anticipate that Franklin Covey will post ($0.46) earnings per share for the current fiscal year.
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In other news, Director Joel Clinton Peterson sold 1,792 shares of the company’s stock in a transaction that occurred on Monday, July 3rd. The shares were sold at an average price of $19.45, for a total transaction of $34,854.40. Following the transaction, the director now directly owns 230,657 shares in the company, valued at $4,486,278.65. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. 33.50% of the stock is currently owned by corporate insiders.
Several institutional investors have recently made changes to their positions in the company. Pembroke Management LTD raised its position in shares of Franklin Covey by 12.5% in the first quarter. Pembroke Management LTD now owns 906,972 shares of the business services provider’s stock worth $18,320,000 after buying an additional 100,800 shares during the last quarter. Vanguard Group Inc. raised its position in shares of Franklin Covey by 4.3% in the first quarter. Vanguard Group Inc. now owns 488,489 shares of the business services provider’s stock valued at $9,867,000 after buying an additional 20,353 shares in the last quarter. Punch & Associates Investment Management Inc. raised its position in shares of Franklin Covey by 0.6% in the first quarter. Punch & Associates Investment Management Inc. now owns 413,705 shares of the business services provider’s stock valued at $8,357,000 after buying an additional 2,570 shares in the last quarter. JPMorgan Chase & Co. raised its position in shares of Franklin Covey by 0.7% in the first quarter. JPMorgan Chase & Co. now owns 231,971 shares of the business services provider’s stock valued at $4,686,000 after buying an additional 1,572 shares in the last quarter. Finally, State Street Corp raised its position in shares of Franklin Covey by 9.7% in the fourth quarter. State Street Corp now owns 171,367 shares of the business services provider’s stock valued at $3,456,000 after buying an additional 15,156 shares in the last quarter. Institutional investors own 53.70% of the company’s stock.
About Franklin Covey
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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