Trade Report: The Providence Service Corp. (PRSC) Upgraded to Outperform at Avondale Partners

The Providence Service Corp. (PRSC) Upgraded to Outperform at Avondale Partners

The Providence Service Corp. (NASDAQ:PRSC) was upgraded by equities researchers at Avondale Partners from a “market perform” rating to an “outperform” rating in a research note issued to investors on Wednesday. The analysts noted that the move was a valuation call.

Several other research firms have also recently commented on PRSC. Zacks Investment Research cut shares of The Providence Service Corp. from a “hold” rating to a “sell” rating in a research report on Saturday, September 24th. TheStreet raised shares of The Providence Service Corp. from a “hold” rating to a “buy” rating in a research report on Monday, October 3rd.

The Providence Service Corp. (NASDAQ:PRSC) traded up 1.33% during midday trading on Wednesday, reaching $37.45. 58,365 shares of the company’s stock were exchanged. The company has a market cap of $530.48 million, a price-to-earnings ratio of 8.12 and a beta of 1.08. The Providence Service Corp. has a 52 week low of $36.64 and a 52 week high of $55.28. The firm has a 50-day moving average price of $41.51 and a 200 day moving average price of $45.86.

The Providence Service Corp. (NASDAQ:PRSC) last posted its quarterly earnings data on Tuesday, November 8th. The company reported $0.35 EPS for the quarter, missing the consensus estimate of $0.37 by $0.02. The company earned $412.50 million during the quarter, compared to the consensus estimate of $417 million. The Providence Service Corp. had a net margin of 3.90% and a return on equity of 11.59%. The company’s revenue was up 8.7% compared to the same quarter last year. During the same period in the prior year, the firm posted $0.07 earnings per share. Analysts anticipate that The Providence Service Corp. will post $2.16 EPS for the current year.

In other The Providence Service Corp. news, Director David A. Coulter purchased 4,225 shares of the stock in a transaction on Friday, September 16th. The shares were purchased at an average cost of $47.29 per share, for a total transaction of $199,800.25. Following the purchase, the director now owns 6,159 shares of the company’s stock, valued at $291,259.11. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink. Also, CEO James M. Lindstrom purchased 2,500 shares of the stock in a transaction on Friday, September 2nd. The stock was acquired at an average price of $46.61 per share, for a total transaction of $116,525.00. Following the completion of the purchase, the chief executive officer now directly owns 26,153 shares in the company, valued at approximately $1,218,991.33. The disclosure for this purchase can be found here. 14.40% of the stock is currently owned by company insiders.

Large investors have recently modified their holdings of the stock. Mason Street Advisors LLC acquired a new stake in shares of The Providence Service Corp. during the second quarter valued at about $107,000. Municipal Employees Retirement System of Michigan raised its position in The Providence Service Corp. by 1.5% in the third quarter. Municipal Employees Retirement System of Michigan now owns 2,700 shares of the company’s stock valued at $131,000 after buying an additional 40 shares in the last quarter. Sei Investments Co. raised its position in The Providence Service Corp. by 70.5% in the third quarter. Sei Investments Co. now owns 3,083 shares of the company’s stock valued at $150,000 after buying an additional 1,275 shares in the last quarter. BNP Paribas Arbitrage SA raised its position in The Providence Service Corp. by 84.6% in the second quarter. BNP Paribas Arbitrage SA now owns 3,832 shares of the company’s stock valued at $172,000 after buying an additional 1,756 shares in the last quarter. Finally, Capstone Asset Management Co. purchased a new position in The Providence Service Corp. during the third quarter valued at $207,000. Hedge funds and other institutional investors own 93.33% of the company’s stock.

The Providence Service Corp. Company Profile

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