Piper Jaffray Reiterates Overweight on The Advisory Board (ABCO) Following 1Q Beat
Get Alerts ABCO Hot Sheet
Rating Summary:
7 Buy, 11 Hold, 1 Sell
Rating Trend: = Flat
Today's Overall Ratings:
Up: 13 | Down: 11 | New: 11
Join SI Premium – FREE
Piper Jaffray maintained an Overweight rating on Advisory Board Company (NASDAQ: ABCO), and cut the price target to $66.00 (from $67.00), following the company's 1Q16 earnings report. Revenues of $200M beat consensus of $189M. EPS of $0.33 beat consensus of $0.14. Several factors led to the strong revenue and EPS performance in Q3, but much of that was timing related, and therefore management reaffirmed guidance for FY15.
Analyst Sean Wieland commented, "ABCO at first glance had a beat on revenue and EPS, but the company indicated that several deals and early performance-based fees came in a quarter early, and reaffirmed FY15 guidance. Both Royall and Clinovation acquisitions are contributing to revenue. We reiterate our Overweight, and lower our PT to $66 from $67 as we update our CY16E revenue estimate, based on net debt of $501M, +185M for EVH, and 42.8M s/o (3.5x unchanged)."
For an analyst ratings summary and ratings history on Advisory Board Company click here. For more ratings news on Advisory Board Company click here.
Shares of Advisory Board Company closed at $44.21 yesterday.
Serious News for Serious Traders! Try StreetInsider.com Premium Free!
You May Also Be Interested In
- Hennes & Mauritz AB (HMB:SS) (HNNMY) PT Raised to SEK190 at RBC Capital, 'showing some promising signs '
- 29Metals Ltd (29M:AU) PT Lowered to AUD0.50 at RBC Capital
- Home Depot (HD) PT Raised to $360 at Telsey, 'in the long term, Home Depot should remain a winner in retail'
Create E-mail Alert Related Categories
Analyst Comments, Analyst EPS Change, Analyst EPS View, Analyst PT ChangeRelated Entities
Piper Jaffray, Earnings, Sean WielandSign up for StreetInsider Free!
Receive full access to all new and archived articles, unlimited portfolio tracking, e-mail alerts, custom newswires and RSS feeds - and more!