Zacks Investment Research cut shares of The Advisory Board Company (NASDAQ:ABCO) from a strong-buy rating to a hold rating in a report issued on Tuesday.

According to Zacks, “The Advisory Board Company provides best practices research and analysis to the health care industry, focusing on business strategy, operations and general management issues. The Company provides its best practices research and analysis through discrete annual programs to a membership of more than 2,000 hospitals, health systems, pharmaceutical and biotech companies, health care insurers, and medical device companies in the United States. Each program provides members with best practices research reports, executive education and other supporting research services. “

ABCO has been the subject of several other research reports. Robert W. Baird upgraded shares of The Advisory Board from a neutral rating to an outperform rating and boosted their price objective for the stock from $50.00 to $53.00 in a research report on Monday, March 27th. TheStreet cut shares of The Advisory Board from a b- rating to a c rating in a research report on Friday, May 5th. Stifel Nicolaus restated a hold rating and issued a $53.00 price objective (up previously from $48.00) on shares of The Advisory Board in a research report on Thursday, July 6th. Finally, Credit Suisse Group boosted their price objective on shares of The Advisory Board from $54.00 to $55.00 and gave the stock an outperform rating in a research report on Monday, May 15th. One analyst has rated the stock with a sell rating, seven have issued a hold rating and six have assigned a buy rating to the stock. The company currently has an average rating of Hold and a consensus target price of $50.33.

Shares of The Advisory Board (ABCO) traded up 1.69% during trading on Tuesday, reaching $57.15. The company’s stock had a trading volume of 458,058 shares. The company’s 50-day moving average is $53.91 and its 200-day moving average is $48.84. The Advisory Board has a 12 month low of $24.85 and a 12 month high of $59.50. The company has a market capitalization of $2.32 billion, a P/E ratio of 23.16 and a beta of 1.31.

The Advisory Board (NASDAQ:ABCO) last posted its quarterly earnings data on Thursday, May 4th. The business services provider reported $0.38 earnings per share for the quarter, topping the consensus estimate of $0.26 by $0.12. The Advisory Board had a net margin of 12.78% and a return on equity of 14.48%. The firm had revenue of $194.50 million during the quarter, compared to analysts’ expectations of $188.43 million. During the same quarter in the previous year, the company posted $0.44 EPS. The Advisory Board’s revenue was down 3.1% on a year-over-year basis. On average, analysts forecast that The Advisory Board will post $1.97 EPS for the current fiscal year.

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A number of hedge funds have recently added to or reduced their stakes in ABCO. Victory Capital Management Inc. acquired a new stake in The Advisory Board during the first quarter worth approximately $109,000. Rockefeller Financial Services Inc. purchased a new position in shares of The Advisory Board during the second quarter valued at about $137,000. Howard Hughes Medical Institute purchased a new position in shares of The Advisory Board during the first quarter valued at about $158,000. Asset Management One Co. Ltd. purchased a new position in shares of The Advisory Board during the first quarter valued at about $159,000. Finally, Ameritas Investment Partners Inc. purchased a new position in shares of The Advisory Board during the first quarter valued at about $166,000.

The Advisory Board Company Profile

The Advisory Board Company is a provider of software and solutions to the healthcare and higher education industries. The Company offers subscription-based membership programs, software and data-enabled services. All of its programs are rooted in best practices and extends across four areas, including Best practices research, Technology, Data-enabled services and Consulting services.

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Analyst Recommendations for The Advisory Board (NASDAQ:ABCO)

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