Barrington Research Has Lowered Expectations for H&R Block (NYSE:HRB) Stock Price

H&R Block (NYSE:HRB) had its price target reduced by equities research analysts at Barrington Research from $70.00 to $62.00 in a report issued on Wednesday, Marketbeat Ratings reports. The brokerage presently has an “outperform” rating on the stock. Barrington Research’s price objective indicates a potential upside of 24.16% from the stock’s current price.

Several other research analysts have also recently commented on the stock. Wall Street Zen upgraded shares of H&R Block from a “hold” rating to a “buy” rating in a report on Friday, May 9th. Northcoast Research cut shares of H&R Block from a “buy” rating to a “neutral” rating in a report on Friday, May 2nd. Finally, The Goldman Sachs Group decreased their target price on shares of H&R Block from $54.00 to $48.00 and set a “sell” rating for the company in a report on Wednesday.

H&R Block Price Performance

Shares of HRB opened at $49.94 on Wednesday. The firm’s 50 day moving average is $55.27 and its 200-day moving average is $55.75. The stock has a market capitalization of $6.69 billion, a P/E ratio of 11.17, a P/E/G ratio of 0.81 and a beta of 0.24. H&R Block has a 12-month low of $47.00 and a 12-month high of $68.45.

H&R Block (NYSE:HRB) last announced its quarterly earnings data on Tuesday, August 12th. The company reported $2.27 earnings per share (EPS) for the quarter, missing the consensus estimate of $2.81 by ($0.54). The business had revenue of $1.11 billion during the quarter, compared to analyst estimates of $1.07 billion. H&R Block had a negative return on equity of 134.63% and a net margin of 16.11%. The business’s revenue for the quarter was up 4.6% on a year-over-year basis. During the same period in the prior year, the firm earned $1.89 EPS. As a group, equities research analysts forecast that H&R Block will post 5.25 EPS for the current fiscal year.

Institutional Trading of H&R Block

Several institutional investors have recently made changes to their positions in the stock. Fuller & Thaler Asset Management Inc. boosted its holdings in shares of H&R Block by 12.5% during the fourth quarter. Fuller & Thaler Asset Management Inc. now owns 4,701,896 shares of the company’s stock worth $248,448,000 after purchasing an additional 523,353 shares during the period. Geode Capital Management LLC boosted its holdings in shares of H&R Block by 5.6% during the second quarter. Geode Capital Management LLC now owns 2,849,655 shares of the company’s stock worth $156,439,000 after purchasing an additional 150,184 shares during the period. Northern Trust Corp boosted its holdings in shares of H&R Block by 11.2% during the first quarter. Northern Trust Corp now owns 2,608,496 shares of the company’s stock worth $143,233,000 after purchasing an additional 263,274 shares during the period. Lazard Asset Management LLC boosted its holdings in shares of H&R Block by 36.8% during the fourth quarter. Lazard Asset Management LLC now owns 2,585,026 shares of the company’s stock worth $136,591,000 after purchasing an additional 695,581 shares during the period. Finally, Dimensional Fund Advisors LP boosted its holdings in shares of H&R Block by 1.3% during the fourth quarter. Dimensional Fund Advisors LP now owns 2,335,353 shares of the company’s stock worth $123,395,000 after purchasing an additional 30,244 shares during the period. 90.14% of the stock is currently owned by institutional investors and hedge funds.

About H&R Block

H&R Block, Inc engages in the provision of tax return preparation solutions, financial products and small business solutions. The company was founded by Henry W. Bloch and Richard A. Bloch on January 25, 1955, and is headquartered in Kansas City, MO.