Bright Horizons Family Solutions Inc. (BFAM) Raised to “Buy” at Zacks Investment Research

Zacks Investment Research upgraded shares of Bright Horizons Family Solutions Inc. (NYSE:BFAM) from a hold rating to a buy rating in a research note released on Tuesday, November 7th. The firm currently has $100.00 price objective on the stock.

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. “

Several other research analysts have also weighed in on BFAM. Credit Suisse Group raised their price objective on shares of Bright Horizons Family Solutions from $83.00 to $90.00 and gave the stock a neutral rating in a report on Thursday, November 2nd. Citigroup Inc. started coverage on shares of Bright Horizons Family Solutions in a report on Tuesday, July 18th. They set a buy rating and a $90.00 price objective for the company. BidaskClub downgraded shares of Bright Horizons Family Solutions from a buy rating to a hold rating in a research report on Wednesday, July 12th. BMO Capital Markets restated a hold rating on shares of Bright Horizons Family Solutions in a research report on Wednesday, October 25th. Finally, Royal Bank Of Canada restated a buy rating on shares of Bright Horizons Family Solutions in a research report on Wednesday, August 9th. Four investment analysts have rated the stock with a hold rating and five have issued a buy rating to the stock. Bright Horizons Family Solutions currently has an average rating of Buy and a consensus target price of $90.67.

Shares of Bright Horizons Family Solutions (NYSE:BFAM) traded down $0.16 on Tuesday, hitting $87.92. 203,562 shares of the company traded hands, compared to its average volume of 266,102. The company has a quick ratio of 0.49, a current ratio of 0.49 and a debt-to-equity ratio of 1.35. The stock has a market capitalization of $5,214.97, a P/E ratio of 36.94, a price-to-earnings-growth ratio of 1.77 and a beta of 0.13. Bright Horizons Family Solutions has a fifty-two week low of $65.00 and a fifty-two week high of $93.13.

Bright Horizons Family Solutions (NYSE:BFAM) last posted its quarterly earnings results on Wednesday, November 1st. The company reported $0.62 earnings per share for the quarter, topping the Zacks’ consensus estimate of $0.57 by $0.05. Bright Horizons Family Solutions had a net margin of 7.22% and a return on equity of 19.72%. The company had revenue of $433.30 million for the quarter, compared to the consensus estimate of $429.36 million. During the same quarter last year, the firm posted $0.49 earnings per share. Bright Horizons Family Solutions’s revenue was up 12.9% on a year-over-year basis. equities research analysts expect that Bright Horizons Family Solutions will post 2.49 earnings per share for the current fiscal year.

In other news, Director Joshua Bekenstein sold 3,504,999 shares of Bright Horizons Family Solutions stock in a transaction that occurred on Tuesday, November 14th. The shares were sold at an average price of $87.26, for a total value of $305,846,212.74. The sale was disclosed in a legal filing with the SEC, which is available at this link. Also, COO Mary Lou Burke sold 750 shares of Bright Horizons Family Solutions stock in a transaction that occurred on Tuesday, September 5th. The stock was sold at an average price of $79.85, for a total transaction of $59,887.50. Following the completion of the transaction, the chief operating officer now directly owns 32,016 shares in the company, valued at approximately $2,556,477.60. The disclosure for this sale can be found here. Insiders have sold a total of 3,650,889 shares of company stock worth $318,185,942 over the last 90 days. 2.90% of the stock is owned by insiders.

Several institutional investors have recently added to or reduced their stakes in BFAM. BlackRock Inc. increased its position in shares of Bright Horizons Family Solutions by 73,144.9% in the first quarter. BlackRock Inc. now owns 2,743,023 shares of the company’s stock worth $198,843,000 after acquiring an additional 2,739,278 shares in the last quarter. JPMorgan Chase & Co. boosted its holdings in shares of Bright Horizons Family Solutions by 3,798.6% during the second quarter. JPMorgan Chase & Co. now owns 692,158 shares of the company’s stock worth $53,441,000 after purchasing an additional 674,404 shares during the period. Neuberger Berman Group LLC boosted its holdings in shares of Bright Horizons Family Solutions by 108.4% during the second quarter. Neuberger Berman Group LLC now owns 1,153,425 shares of the company’s stock worth $89,056,000 after purchasing an additional 599,907 shares during the period. Vanguard Group Inc. boosted its holdings in shares of Bright Horizons Family Solutions by 11.8% during the second quarter. Vanguard Group Inc. now owns 3,888,575 shares of the company’s stock worth $300,237,000 after purchasing an additional 410,335 shares during the period. Finally, Laurion Capital Management LP acquired a new stake in shares of Bright Horizons Family Solutions during the second quarter worth approximately $17,171,000. 97.71% of the stock is currently owned by institutional investors and hedge funds.

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Bright Horizons Family Solutions Company Profile

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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