Bright Horizons Family Solutions Inc. (NYSE:BFAM) Rating Lowered to Hold at Zacks Investment Research

Zacks Investment Research cut shares of Bright Horizons Family Solutions Inc. (NYSE:BFAM) from a buy rating to a hold rating in a report released on Thursday, August 31st.

According to Zacks, “Bright Horizons Family Solutions Inc. is engaged in providing employer-sponsored child care, early education and work/life solutions. Its employer-sponsored child care programs include child care and early education centers, infant/toddler/preschool care and education, full and part-time child care, kindergarten, school-age programs, summer camps and back-up care. Bright Horizons manages child care centers for corporations, hospitals, universities and government agencies The Company operates primarily in North America, Europe and India. Bright Horizons Family Solutions Inc. is based in Watertown, Massachusetts. “

A number of other research firms have also recently commented on BFAM. BidaskClub raised Bright Horizons Family Solutions from a hold rating to a buy rating in a research note on Thursday, August 10th. BMO Capital Markets reaffirmed a hold rating and set a $83.00 target price on shares of Bright Horizons Family Solutions in a research note on Friday, May 5th. Royal Bank Of Canada reissued a buy rating on shares of Bright Horizons Family Solutions in a research note on Wednesday, August 9th. Citigroup Inc. reissued a buy rating and issued a $92.00 price objective (up previously from $90.00) on shares of Bright Horizons Family Solutions in a research note on Thursday, August 3rd. Finally, Credit Suisse Group cut Bright Horizons Family Solutions from an outperform rating to a neutral rating and increased their price objective for the stock from $80.00 to $83.00 in a research note on Friday, May 12th. They noted that the move was a valuation call. Four research analysts have rated the stock with a hold rating and four have assigned a buy rating to the company’s stock. Bright Horizons Family Solutions currently has an average rating of Buy and a consensus target price of $84.00.

Shares of Bright Horizons Family Solutions (BFAM) traded down 0.66% during midday trading on Thursday, hitting $80.75. The stock had a trading volume of 41,647 shares. The company has a market cap of $4.78 billion, a PE ratio of 43.09 and a beta of 0.13. The company’s 50 day moving average is $79.57 and its 200 day moving average is $76.01. Bright Horizons Family Solutions has a 52-week low of $59.00 and a 52-week high of $82.00.

Bright Horizons Family Solutions (NYSE:BFAM) last released its earnings results on Tuesday, August 1st. The company reported $0.70 EPS for the quarter, beating analysts’ consensus estimates of $0.67 by $0.03. The firm had revenue of $445.55 million for the quarter, compared to analysts’ expectations of $443.90 million. Bright Horizons Family Solutions had a return on equity of 19.19% and a net margin of 6.91%. The company’s quarterly revenue was up 10.8% on a year-over-year basis. During the same quarter in the prior year, the firm posted $0.61 earnings per share. On average, analysts anticipate that Bright Horizons Family Solutions will post $2.64 earnings per share for the current year.

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In other news, COO Mary Lou Burke sold 5,000 shares of the stock in a transaction on Wednesday, July 5th. The stock was sold at an average price of $76.60, for a total transaction of $383,000.00. Following the completion of the sale, the chief operating officer now owns 36,266 shares in the company, valued at approximately $2,777,975.60. The sale was disclosed in a document filed with the SEC, which is accessible through the SEC website. Also, Director Mary Ann Tocio sold 6,666 shares of the stock in a transaction on Tuesday, July 11th. The shares were sold at an average price of $76.11, for a total value of $507,349.26. Following the sale, the director now owns 67,284 shares of the company’s stock, valued at approximately $5,120,985.24. The disclosure for this sale can be found here. Insiders have sold a total of 63,429 shares of company stock worth $4,987,519 in the last ninety days. Insiders own 2.90% of the company’s stock.

Several institutional investors and hedge funds have recently modified their holdings of BFAM. Acrospire Investment Management LLC lifted its holdings in shares of Bright Horizons Family Solutions by 250.0% during the 2nd quarter. Acrospire Investment Management LLC now owns 1,400 shares of the company’s stock valued at $108,000 after purchasing an additional 1,000 shares during the last quarter. Public Employees Retirement Association of Colorado purchased a new stake in shares of Bright Horizons Family Solutions during the 2nd quarter valued at $123,000. Advisor Group Inc. lifted its holdings in shares of Bright Horizons Family Solutions by 213.6% during the 2nd quarter. Advisor Group Inc. now owns 1,988 shares of the company’s stock valued at $152,000 after purchasing an additional 1,354 shares during the last quarter. BNP Paribas Arbitrage SA lifted its holdings in shares of Bright Horizons Family Solutions by 83.5% during the 1st quarter. BNP Paribas Arbitrage SA now owns 2,621 shares of the company’s stock valued at $190,000 after purchasing an additional 1,193 shares during the last quarter. Finally, Connable Office Inc. purchased a new stake in shares of Bright Horizons Family Solutions during the 2nd quarter valued at $208,000. Hedge funds and other institutional investors own 97.23% of the company’s stock.

About Bright Horizons Family Solutions

Bright Horizons Family Solutions Inc is a provider of child care, early education and other services. The Company provides services under multi-year contracts with employers offering child care and other dependent care solutions as part of their employee benefits packages. Its segments include full service center-based care services, back-up dependent care services and other educational advisory services.

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