The Providence Service Corporation (PRSC) Given Consensus Rating of “Hold” by Brokerages

The Providence Service Corporation (NASDAQ:PRSC) has been given a consensus recommendation of “Hold” by the six brokerages that are covering the stock, MarketBeat Ratings reports. Two investment analysts have rated the stock with a sell rating, two have given a hold rating and one has assigned a buy rating to the company. The average 1 year target price among analysts that have issued ratings on the stock in the last year is $67.00.

A number of research analysts have recently issued reports on PRSC shares. TheStreet upgraded shares of The Providence Service from a “c+” rating to a “b” rating in a research note on Tuesday, November 7th. Barrington Research reiterated an “outperform” rating and set a $67.00 price target on shares of The Providence Service in a research note on Thursday, November 9th. Finally, Zacks Investment Research lowered shares of The Providence Service from a “hold” rating to a “sell” rating in a research note on Tuesday, November 14th.

In other news, Director Richard A. Kerley sold 3,500 shares of the business’s stock in a transaction dated Thursday, December 7th. The shares were sold at an average price of $59.07, for a total transaction of $206,745.00. Following the transaction, the director now directly owns 33,152 shares in the company, valued at $1,958,288.64. The sale was disclosed in a document filed with the SEC, which is available at this hyperlink. Insiders own 18.93% of the company’s stock.

Institutional investors and hedge funds have recently modified their holdings of the business. State of Alaska Department of Revenue grew its position in The Providence Service by 79.3% during the second quarter. State of Alaska Department of Revenue now owns 2,385 shares of the company’s stock worth $120,000 after buying an additional 1,055 shares during the period. Municipal Employees Retirement System of Michigan grew its position in The Providence Service by 3.6% during the second quarter. Municipal Employees Retirement System of Michigan now owns 2,870 shares of the company’s stock worth $145,000 after buying an additional 100 shares during the period. Russell Investments Group Ltd. grew its position in The Providence Service by 246.1% during the second quarter. Russell Investments Group Ltd. now owns 2,918 shares of the company’s stock worth $148,000 after buying an additional 2,075 shares during the period. BNP Paribas Arbitrage SA grew its position in The Providence Service by 58.3% during the second quarter. BNP Paribas Arbitrage SA now owns 3,571 shares of the company’s stock worth $181,000 after buying an additional 1,315 shares during the period. Finally, Aperio Group LLC acquired a new position in The Providence Service during the second quarter worth about $262,000. Institutional investors own 95.39% of the company’s stock.

The Providence Service (PRSC) opened at $58.18 on Friday. The Providence Service has a one year low of $35.65 and a one year high of $60.95. The stock has a market cap of $780.90, a PE ratio of 44.46, a PEG ratio of 3.62 and a beta of 0.88.

The Providence Service (NASDAQ:PRSC) last issued its quarterly earnings results on Tuesday, November 7th. The company reported $0.32 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.31 by $0.01. The Providence Service had a net margin of 4.91% and a return on equity of 6.29%. The business had revenue of $409.50 million for the quarter, compared to analyst estimates of $407.00 million. During the same period in the previous year, the business posted $0.35 earnings per share. The business’s revenue was down .7% compared to the same quarter last year. research analysts expect that The Providence Service will post 1.35 EPS for the current fiscal year.

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About The Providence Service

The Providence Service Corporation (Providence) is a holding company. The Company, through its subsidiaries, is engaged in the provision of healthcare and workforce development services for public and private sector entities. The Company’s segments include Non-Emergency Transportation Services (NET Services), Workforce Development Services (WD Services) and Matrix Investment.

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