FirstService (NASDAQ:FSV) Stock Rating Upgraded by Wall Street Zen

FirstService (NASDAQ:FSV) (TSE:FSV) was upgraded by stock analysts at Wall Street Zen from a “hold” rating to a “buy” rating in a report issued on Sunday.

Several other research analysts have also recently issued reports on the stock. Scotiabank increased their price target on shares of FirstService from $210.00 to $220.00 and gave the stock a “sector perform” rating in a report on Wednesday, July 30th. TD Securities increased their price target on shares of FirstService from $200.00 to $211.00 and gave the stock a “hold” rating in a report on Friday, July 25th. Two equities research analysts have rated the stock with a Buy rating and two have issued a Hold rating to the company. Based on data from MarketBeat.com, the company has an average rating of “Moderate Buy” and a consensus price target of $217.75.

FirstService Price Performance

Shares of FSV opened at $201.58 on Friday. FirstService has a fifty-two week low of $153.13 and a fifty-two week high of $203.80. The company has a market capitalization of $9.18 billion, a price-to-earnings ratio of 64.61 and a beta of 0.96. The firm has a 50-day simple moving average of $190.97 and a 200-day simple moving average of $178.81. The company has a debt-to-equity ratio of 0.99, a quick ratio of 1.76 and a current ratio of 1.76.

FirstService (NASDAQ:FSV) (TSE:FSV) last announced its earnings results on Thursday, July 24th. The financial services provider reported $1.71 earnings per share for the quarter, topping the consensus estimate of $1.45 by $0.26. The business had revenue of $1.42 billion during the quarter, compared to the consensus estimate of $1.40 billion. FirstService had a net margin of 2.61% and a return on equity of 18.24%. The business’s quarterly revenue was up 9.1% compared to the same quarter last year. During the same quarter in the prior year, the firm earned $1.36 earnings per share. On average, equities research analysts anticipate that FirstService will post 5.27 earnings per share for the current year.

Institutional Inflows and Outflows

Hedge funds have recently added to or reduced their stakes in the stock. TCTC Holdings LLC increased its holdings in FirstService by 155.2% in the first quarter. TCTC Holdings LLC now owns 171 shares of the financial services provider’s stock valued at $28,000 after buying an additional 104 shares in the last quarter. Geneos Wealth Management Inc. increased its holdings in FirstService by 63.7% in the second quarter. Geneos Wealth Management Inc. now owns 203 shares of the financial services provider’s stock valued at $35,000 after buying an additional 79 shares in the last quarter. Strs Ohio purchased a new position in FirstService in the first quarter valued at about $38,000. EverSource Wealth Advisors LLC increased its holdings in FirstService by 400.0% in the second quarter. EverSource Wealth Advisors LLC now owns 365 shares of the financial services provider’s stock valued at $64,000 after buying an additional 292 shares in the last quarter. Finally, Spire Wealth Management increased its holdings in FirstService by 52.1% in the first quarter. Spire Wealth Management now owns 543 shares of the financial services provider’s stock valued at $90,000 after buying an additional 186 shares in the last quarter. 69.35% of the stock is owned by hedge funds and other institutional investors.

FirstService Company Profile

FirstService Corporation, together with its subsidiaries, provides residential property management and other essential property services to residential and commercial customers in the United States and Canada. It operates through two segments: FirstService Residential and FirstService Brands. The FirstService Residential segment offers services for private residential communities, such as condominiums, co-operatives, homeowner associations, master-planned communities, active adult and lifestyle communities, and various other residential developments.