Franklin Covey Co. (NYSE:FC) Sees Large Decline in Short Interest

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Franklin Covey Co. (NYSE:FC) was the target of a significant decrease in short interest in August. As of August 15th, there was short interest totalling 98,400 shares, a decrease of 45.4% from the July 15th total of 180,300 shares. Currently, 1.0% of the shares of the stock are sold short. Based on an average daily trading volume, of 38,000 shares, the days-to-cover ratio is currently 2.6 days.

Shares of Franklin Covey stock traded down $0.57 during midday trading on Tuesday, reaching $36.73. 18,000 shares of the company’s stock traded hands, compared to its average volume of 32,430. The company has a debt-to-equity ratio of 0.31, a quick ratio of 0.92 and a current ratio of 0.96. The company has a market cap of $511.18 million, a PE ratio of -70.63 and a beta of 0.84. The stock has a 50 day moving average of $36.36 and a 200-day moving average of $30.49. Franklin Covey has a 12 month low of $20.52 and a 12 month high of $39.31.

Franklin Covey (NYSE:FC) last announced its earnings results on Thursday, June 27th. The business services provider reported ($0.14) EPS for the quarter, beating analysts’ consensus estimates of ($0.20) by $0.06. The company had revenue of $56.01 million during the quarter, compared to the consensus estimate of $52.95 million. Franklin Covey had a negative return on equity of 6.68% and a negative net margin of 2.28%. On average, equities analysts anticipate that Franklin Covey will post -0.12 earnings per share for the current fiscal year.

In other Franklin Covey news, Director Esther Kay Stepp sold 4,262 shares of the business’s stock in a transaction that occurred on Wednesday, May 29th. The stock was sold at an average price of $31.41, for a total value of $133,869.42. Following the completion of the sale, the director now owns 57,369 shares in the company, valued at $1,801,960.29. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through the SEC website. 33.60% of the stock is owned by corporate insiders.

Several institutional investors have recently made changes to their positions in FC. Pembroke Management LTD raised its holdings in Franklin Covey by 4.2% in the second quarter. Pembroke Management LTD now owns 881,276 shares of the business services provider’s stock worth $29,963,000 after purchasing an additional 35,773 shares in the last quarter. BlackRock Inc. raised its holdings in Franklin Covey by 3.3% in the second quarter. BlackRock Inc. now owns 829,686 shares of the business services provider’s stock worth $28,209,000 after purchasing an additional 26,863 shares in the last quarter. Vanguard Group Inc. raised its holdings in Franklin Covey by 1.3% in the second quarter. Vanguard Group Inc. now owns 543,358 shares of the business services provider’s stock worth $18,475,000 after purchasing an additional 7,195 shares in the last quarter. Punch & Associates Investment Management Inc. raised its holdings in Franklin Covey by 1.4% in the first quarter. Punch & Associates Investment Management Inc. now owns 365,135 shares of the business services provider’s stock worth $9,238,000 after purchasing an additional 4,974 shares in the last quarter. Finally, Rice Hall James & Associates LLC raised its holdings in Franklin Covey by 0.8% in the second quarter. Rice Hall James & Associates LLC now owns 335,711 shares of the business services provider’s stock worth $11,414,000 after purchasing an additional 2,691 shares in the last quarter. Institutional investors own 46.28% of the company’s stock.

Several brokerages have weighed in on FC. Roth Capital boosted their price objective on Franklin Covey from $34.00 to $40.00 and gave the company a “buy” rating in a research report on Friday, June 28th. ValuEngine upgraded Franklin Covey from a “buy” rating to a “strong-buy” rating in a research report on Monday, June 3rd. B. Riley boosted their price objective on Franklin Covey from $35.00 to $42.50 and gave the company a “buy” rating in a research report on Friday, June 28th. Finally, Barrington Research boosted their price objective on Franklin Covey from $34.00 to $40.00 and gave the company an “outperform” rating in a research report on Friday, June 28th. Four equities research analysts have rated the stock with a buy rating and one has given a strong buy rating to the company. Franklin Covey presently has an average rating of “Buy” and a consensus price target of $37.88.

Franklin Covey Company Profile

Franklin Covey Co provides training and consulting services in the areas of leadership, productivity, strategic execution, trust, sales force performance, customer loyalty, and communication effectiveness skills for organizations and individuals worldwide. The company operates through three segments: Direct Offices, Education Practice, and International Licensees.

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