Bright Horizons Family Solutions (NYSE:BFAM) Reaches New 52-Week High at $140.91

Shares of Bright Horizons Family Solutions Inc. (NYSE:BFAM) hit a new 52-week high during mid-day trading on Tuesday . The stock traded as high as $140.91 and last traded at $140.15, with a volume of 18533 shares traded. The stock had previously closed at $140.72.

Wall Street Analysts Forecast Growth

A number of equities research analysts recently issued reports on the stock. JPMorgan Chase & Co. upped their price target on shares of Bright Horizons Family Solutions from $119.00 to $137.00 and gave the company an “overweight” rating in a research note on Friday, August 2nd. Robert W. Baird upped their target price on shares of Bright Horizons Family Solutions from $115.00 to $131.00 and gave the company a “neutral” rating in a research report on Friday, August 2nd. Barclays lifted their price target on Bright Horizons Family Solutions from $125.00 to $160.00 and gave the stock an “overweight” rating in a research report on Friday, August 30th. The Goldman Sachs Group upped their price objective on Bright Horizons Family Solutions from $125.00 to $142.00 and gave the company a “buy” rating in a research report on Friday, August 2nd. Finally, Deutsche Bank Aktiengesellschaft raised their price objective on Bright Horizons Family Solutions from $114.00 to $140.00 and gave the company a “hold” rating in a research note on Friday, August 2nd. Five analysts have rated the stock with a hold rating and three have given a buy rating to the stock. Based on data from MarketBeat, Bright Horizons Family Solutions currently has an average rating of “Hold” and a consensus price target of $133.43.

Bright Horizons Family Solutions Trading Up 0.9 %

The stock has a market capitalization of $8.16 billion, a P/E ratio of 99.06 and a beta of 1.45. The stock’s 50 day moving average price is $124.90 and its 200-day moving average price is $114.98. The company has a quick ratio of 0.56, a current ratio of 0.56 and a debt-to-equity ratio of 0.73.

Bright Horizons Family Solutions (NYSE:BFAM) last issued its quarterly earnings data on Thursday, August 1st. The company reported $0.88 earnings per share for the quarter, beating analysts’ consensus estimates of $0.73 by $0.15. Bright Horizons Family Solutions had a return on equity of 12.86% and a net margin of 3.98%. The company had revenue of $670.10 million for the quarter, compared to the consensus estimate of $666.17 million. During the same quarter last year, the company earned $0.54 earnings per share. The firm’s revenue for the quarter was up 11.1% compared to the same quarter last year. As a group, equities research analysts expect that Bright Horizons Family Solutions Inc. will post 2.98 earnings per share for the current year.

Insider Activity

In related news, General Counsel John Guy Casagrande sold 4,235 shares of the company’s stock in a transaction on Monday, August 5th. The stock was sold at an average price of $129.86, for a total value of $549,957.10. Following the transaction, the general counsel now directly owns 13,677 shares of the company’s stock, valued at approximately $1,776,095.22. The transaction was disclosed in a legal filing with the SEC, which is available through this hyperlink. In other Bright Horizons Family Solutions news, Director Lightfoot Sara Lawrence sold 4,597 shares of the firm’s stock in a transaction that occurred on Monday, June 10th. The stock was sold at an average price of $107.23, for a total value of $492,936.31. The sale was disclosed in a document filed with the SEC, which is available through this hyperlink. Also, General Counsel John Guy Casagrande sold 4,235 shares of the company’s stock in a transaction that occurred on Monday, August 5th. The stock was sold at an average price of $129.86, for a total value of $549,957.10. Following the transaction, the general counsel now directly owns 13,677 shares of the company’s stock, valued at $1,776,095.22. The disclosure for this sale can be found here. Insiders have sold a total of 29,232 shares of company stock worth $3,664,500 over the last 90 days. 1.22% of the stock is currently owned by corporate insiders.

Hedge Funds Weigh In On Bright Horizons Family Solutions

A number of hedge funds have recently made changes to their positions in the company. Quarry LP grew its stake in Bright Horizons Family Solutions by 68.3% during the 2nd quarter. Quarry LP now owns 436 shares of the company’s stock valued at $48,000 after acquiring an additional 177 shares in the last quarter. Algert Global LLC grew its position in shares of Bright Horizons Family Solutions by 139.7% in the second quarter. Algert Global LLC now owns 39,961 shares of the company’s stock valued at $4,399,000 after purchasing an additional 23,291 shares in the last quarter. Millennium Management LLC acquired a new stake in shares of Bright Horizons Family Solutions in the second quarter valued at approximately $28,995,000. Point72 Asia Singapore Pte. Ltd. acquired a new stake in shares of Bright Horizons Family Solutions in the second quarter valued at approximately $110,000. Finally, Squarepoint Ops LLC lifted its position in Bright Horizons Family Solutions by 51.3% during the second quarter. Squarepoint Ops LLC now owns 16,821 shares of the company’s stock worth $1,852,000 after buying an additional 5,706 shares in the last quarter.

Bright Horizons Family Solutions Company Profile

Bright Horizons Family Solutions Inc provides early education and childcare, back-up care, educational advisory, and other workplace solutions services for employers and families in the United States, Puerto Rico, the United Kingdom, the Netherlands, Australia, and India. The company operates in three segments: Full Service Center-Based Child Care, Back-Up Care, and Educational Advisory and Other Services.