Raymond James Boosts FirstService (NASDAQ:FSV) Price Target to $225.00

FirstService (NASDAQ:FSV) (TSE:FSV) had its price target increased by research analysts at Raymond James from $215.00 to $225.00 in a research note issued on Wednesday,Benzinga reports. The firm currently has an “outperform” rating on the financial services provider’s stock. Raymond James’ price objective would indicate a potential upside of 22.67% from the stock’s current price.

FSV has been the subject of a number of other research reports. TD Securities lifted their target price on FirstService from $179.00 to $182.00 and gave the stock a “hold” rating in a report on Thursday, October 17th. StockNews.com upgraded shares of FirstService from a “hold” rating to a “buy” rating in a research report on Friday, October 25th. Scotiabank boosted their price target on FirstService from $190.00 to $200.00 and gave the company a “sector perform” rating in a research note on Tuesday, October 15th. Finally, Stifel Nicolaus raised their price objective on FirstService from $200.00 to $215.00 and gave the stock a “buy” rating in a research note on Monday, October 21st. Two equities research analysts have rated the stock with a hold rating and five have assigned a buy rating to the company. According to data from MarketBeat.com, the company currently has a consensus rating of “Moderate Buy” and a consensus target price of $201.67.

FirstService Stock Performance

Shares of NASDAQ:FSV traded up $0.79 on Wednesday, hitting $183.42. The company had a trading volume of 48,105 shares, compared to its average volume of 109,167. The stock has a market cap of $8.30 billion, a price-to-earnings ratio of 76.55 and a beta of 1.06. The stock has a 50 day moving average price of $185.68 and a 200 day moving average price of $180.26. FirstService has a 1-year low of $141.26 and a 1-year high of $197.84. The company has a current ratio of 1.79, a quick ratio of 1.79 and a debt-to-equity ratio of 1.13.

FirstService (NASDAQ:FSV) (TSE:FSV) last released its quarterly earnings results on Thursday, October 24th. The financial services provider reported $1.63 earnings per share for the quarter, beating the consensus estimate of $1.42 by $0.21. FirstService had a net margin of 2.19% and a return on equity of 16.68%. The firm had revenue of $1.40 billion for the quarter, compared to analysts’ expectations of $1.32 billion. During the same period in the prior year, the firm earned $1.18 EPS. The business’s revenue was up 25.0% on a year-over-year basis. Analysts expect that FirstService will post 4.64 EPS for the current year.

Institutional Investors Weigh In On FirstService

Hedge funds have recently modified their holdings of the company. The Manufacturers Life Insurance Company increased its stake in shares of FirstService by 6.8% in the second quarter. The Manufacturers Life Insurance Company now owns 2,733,694 shares of the financial services provider’s stock valued at $415,427,000 after buying an additional 174,970 shares during the period. Conestoga Capital Advisors LLC lifted its position in shares of FirstService by 1.6% in the 3rd quarter. Conestoga Capital Advisors LLC now owns 1,449,933 shares of the financial services provider’s stock worth $264,555,000 after purchasing an additional 23,082 shares during the period. Franklin Resources Inc. boosted its stake in shares of FirstService by 486.3% in the 3rd quarter. Franklin Resources Inc. now owns 469,141 shares of the financial services provider’s stock valued at $87,308,000 after purchasing an additional 389,129 shares during the last quarter. Bank of Montreal Can increased its position in shares of FirstService by 19.7% during the third quarter. Bank of Montreal Can now owns 388,430 shares of the financial services provider’s stock worth $69,992,000 after buying an additional 63,807 shares during the period. Finally, Baskin Financial Services Inc. lifted its holdings in FirstService by 0.3% in the third quarter. Baskin Financial Services Inc. now owns 250,491 shares of the financial services provider’s stock valued at $45,737,000 after buying an additional 636 shares during the period. Institutional investors and hedge funds own 69.35% of the company’s stock.

FirstService Company Profile

FirstService Corporation, together with its subsidiaries, provides residential property management and other essential property services to residential and commercial customers in the United States and Canada. It operates through two segments: FirstService Residential and FirstService Brands. The FirstService Residential segment offers services for private residential communities, such as condominiums, co-operatives, homeowner associations, master-planned communities, active adult and lifestyle communities, and various other residential developments.