Franklin Covey’s (FC) Buy Rating Reiterated at B. Riley

B. Riley reaffirmed their buy rating on shares of Franklin Covey Company (NYSE:FC) in a research report sent to investors on Tuesday, November 7th. B. Riley currently has a $22.00 target price on the business services provider’s stock. B. Riley also issued estimates for Franklin Covey’s Q1 2018 earnings at ($0.24) EPS, Q2 2018 earnings at ($0.19) EPS, Q3 2018 earnings at ($0.15) EPS, Q4 2018 earnings at $0.53 EPS, Q1 2019 earnings at ($0.24) EPS, Q2 2019 earnings at ($0.15) EPS, Q3 2019 earnings at ($0.13) EPS and Q4 2019 earnings at $0.58 EPS.

FC has been the topic of several other research reports. Zacks Investment Research raised shares of Franklin Covey from a sell rating to a hold rating in a research report on Monday, September 4th. BidaskClub lowered shares of Franklin Covey from a sell rating to a strong sell rating in a research note on Friday, July 28th. Two investment analysts have rated the stock with a sell rating, four have issued a hold rating and one has given a buy rating to the company’s stock. The company presently has an average rating of Hold and an average price target of $22.00.

Franklin Covey (NYSE FC) traded up $0.40 during trading hours on Tuesday, hitting $20.15. The company had a trading volume of 29,600 shares, compared to its average volume of 46,767. Franklin Covey has a fifty-two week low of $15.20 and a fifty-two week high of $22.45. The company has a debt-to-equity ratio of 0.45, a current ratio of 1.14 and a quick ratio of 1.10.

Franklin Covey (NYSE:FC) last announced its quarterly earnings data on Thursday, November 9th. The business services provider reported $0.33 earnings per share for the quarter, missing the Thomson Reuters’ consensus estimate of $0.39 by ($0.06). The firm had revenue of $59.50 million for the quarter, compared to analyst estimates of $64.60 million. Franklin Covey had a negative return on equity of 5.50% and a negative net margin of 3.87%. Franklin Covey’s revenue for the quarter was down 8.2% compared to the same quarter last year. During the same period in the previous year, the business posted $0.55 EPS. research analysts expect that Franklin Covey will post -0.25 EPS for the current fiscal year.

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In related news, Director Joel Clinton Peterson sold 1,792 shares of Franklin Covey stock in a transaction on Monday, October 2nd. The shares were sold at an average price of $20.33, for a total value of $36,431.36. Following the transaction, the director now directly owns 225,280 shares in the company, valued at approximately $4,579,942.40. The transaction was disclosed in a legal filing with the SEC, which is accessible through this link. Insiders sold a total of 5,377 shares of company stock worth $104,045 over the last three months. 33.50% of the stock is owned by company insiders.

A number of hedge funds and other institutional investors have recently added to or reduced their stakes in FC. American International Group Inc. boosted its stake in Franklin Covey by 7.3% during the first quarter. American International Group Inc. now owns 6,300 shares of the business services provider’s stock valued at $127,000 after buying an additional 427 shares in the last quarter. The Manufacturers Life Insurance Company lifted its stake in Franklin Covey by 9.0% in the 2nd quarter. The Manufacturers Life Insurance Company now owns 8,948 shares of the business services provider’s stock worth $172,000 after acquiring an additional 740 shares in the last quarter. Wells Fargo & Company MN lifted its stake in Franklin Covey by 24.5% in the 1st quarter. Wells Fargo & Company MN now owns 8,617 shares of the business services provider’s stock worth $174,000 after acquiring an additional 1,693 shares in the last quarter. California Public Employees Retirement System purchased a new stake in Franklin Covey in the 1st quarter worth about $210,000. Finally, Teachers Advisors LLC lifted its stake in Franklin Covey by 13.0% in the 2nd quarter. Teachers Advisors LLC now owns 19,159 shares of the business services provider’s stock worth $370,000 after acquiring an additional 2,211 shares in the last quarter. Hedge funds and other institutional investors own 52.05% of the company’s stock.

About Franklin Covey

Franklin Covey Co is a global company specializing in performance improvement. The Company’s segments are Direct Offices, Strategic Markets, Education practice and International Licensees. The Direct Offices segment consists of its geographic sales offices that serve the United States and Canada, its international sales offices located in Japan, the United Kingdom and Australia, and its public programs group.

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