Zacks Investment Research Reduces Franchise Group (NASDAQ: FRG) to Own
Franchise Group (NASDAQ: FRG) was demoted by Zacks Investment Research from a âbuyâ rating to a âholdâ rating in a research report released Tuesday, Zacks.com reports.
According to Zacks, “Franchise Group Inc. is the indirect parent company of Liberty Tax Service and Buddy’s Home Furnishings. It focuses on the valuation and acquisition of franchise-oriented or complementary businesses. The company also owns Buddy’s Home. Furnishings, a specialty retailer, engaged in the rental and sale of consumer electronics, home furnishings, appliances and household accessories. Franchise Group Inc., formerly known as Liberty Tax Inc., is based in Virginia Beach, United States. “
Other stock analysts have also published reports on the stock. B. Riley increased his price target on Franchise Group shares from $ 38.00 to $ 46.00 and gave the company a âbuyâ rating in a report on Thursday, March 11. Oppenheimer launched coverage on Franchise Group shares in a research note on Tuesday, April 27. They issued an “outperformance” rating and a price target of $ 50.00 for the company. Barrington Research raised its price target for Franchise Group shares from $ 40.00 to $ 48.00 and gave the company an “outperformance” rating in a research note on Thursday, March 11. They noted that the move was an appraisal call. Finally, DA Davidson raised its price target on Franchise Group shares from $ 40.00 to $ 49.00 and gave the company a âbuyâ rating in a research note on Thursday, March 11. Two research analysts rated the stock with a sustaining rating and five gave the company’s stock a buy rating. The stock has an average rating of “Buy” and an average target price of $ 43.71.
The NASDAQ FRG was down $ 0.31 during trading hours on Tuesday, reaching $ 36.82. The company’s shares had a trading volume of 161,968 shares, compared to an average volume of 154,909 shares. The stock has a fifty-day moving average of $ 36.96 and a 200-day moving average of $ 33.65. Franchise Group has a 12 month minimum of $ 15.60 and a 12 month maximum of $ 41.50. The company has a market cap of $ 1.48 billion, a P / E ratio of -54.95, a PEG ratio of 0.71 and a beta of 1.98. The company has a quick ratio of 0.70, a current ratio of 1.46 and a debt ratio of 2.68.
Franchise Group (NASDAQ: FRG) last announced its quarterly earnings data on Thursday, May 6. The company reported earnings per share of $ 0.90 for the quarter, beating the Thomson Reuters consensus estimate of $ 0.87 by $ 0.03. Franchise Group had a negative net margin of 0.95% and a positive return on equity of 11.75%. The company posted revenue of $ 621.35 million for the quarter, compared to analysts’ estimates of $ 709.82 million. The company’s quarterly revenue increased 23.5% compared to the same quarter last year. On average, analysts predict that Franchise Group will post 3.35 earnings per share for the current year.
Similarly, CEO Brian Randall Kahn acquired 1,000,000 shares in a transaction dated Friday, May 21. The stock was purchased at an average price of $ 36.00 per share, for a total value of $ 36,000,000.00. Following the closing of the transaction, the CEO now directly owns 1,342,788 shares of the company, valued at $ 48,340,368. The transaction was disclosed in a legal file with the Securities & Exchange Commission, accessible through this hyperlink. 30.10% of the stock is held by corporate insiders.
A number of institutional investors have recently increased or reduced their holdings in the stock. BlackRock Inc. increased its position in Franchise Group by 21.6% in the first quarter. BlackRock Inc. now owns 1,974,843 shares of the company valued at $ 71,310,000 after purchasing an additional 350,656 shares during the last quarter. Hood River Capital Management LLC increased its position in Franchise Group by 2.1% in the fourth quarter. Hood River Capital Management LLC now owns 1,394,429 shares of the company valued at $ 42,460,000 after purchasing an additional 28,838 shares during the last quarter. Wells Fargo & Company MN increased its position in Franchise Group by 4.2% in the fourth quarter. Wells Fargo & Company MN now owns 915,515 shares of the company valued at $ 27,877,000 after purchasing an additional 37,228 shares during the last quarter. Cannell Capital LLC increased its position in Franchise Group by 22.1% in the first quarter. Cannell Capital LLC now owns 848,267 shares of the company valued at $ 30,631,000 after purchasing an additional 153,771 shares during the last quarter. Finally, Ophir Asset Management Pty Ltd increased its position in Franchise Group by 15.9% in the first quarter. Ophir Asset Management Pty Ltd now owns 800,603 shares of the company valued at $ 28,229,000 after purchasing an additional 109,964 shares during the last quarter. 46.65% of the shares are held by institutional investors and hedge funds.
Company Profile Franchise Group
Franchise Group, Inc. operates as a retailer, franchisor operator and acquirer of franchise and franchisable businesses. It operates through 4 segments: Liberty Tax, Buddy’s, Sears Outlet and Vitamin Shoppe. The company provides tax preparation services in the United States and Canada; and franchises and operates hire-purchase stores that rent durable goods, such as electronics, home furnishings, appliances and household accessories to customers.
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