Blucora (NASDAQ:BCOR) Rating Raised to Buy on StockNews.com
Separately, Zacks Investment Research upgraded Blucora from a “sell” rating to a “hold” rating in a report released Thursday. Two investment analysts gave the stock a hold rating and three gave the stock a buy rating. Based on data from MarketBeat.com, Blucora currently has a consensus rating of “Buy” and an average price target of $23.00.
Shares of BCOR shares opened at $17.49 on Friday. The company’s 50-day moving average is $18.57 and its two-hundred-day moving average is $18.01. Blucora has a 12-month low of $14.51 and a 12-month high of $21.40. The company has a market capitalization of $826.37 million, a P/E ratio of 62.47, a price-to-earnings growth ratio of 0.96 and a beta of 1.44. The company has a current ratio of 1.86, a quick ratio of 1.86 and a debt ratio of 1.59.
Blucora (NASDAQ: BCOR – Get an assessment) last announced its results on Wednesday, May 4. The information services provider reported earnings per share of $0.94 for the quarter, missing the consensus estimate of $1.10 per ($0.16). Blucora had a net margin of 1.61% and a return on equity of 19.46%. The company posted revenue of $307.60 million in the quarter, compared to $324.56 million expected by analysts. In the same quarter last year, the company posted earnings per share of $0.95. The company’s revenue for the quarter increased by 10.5% compared to the same quarter last year. As a group, stock analysts predict Blucora will post 1.24 earnings per share for the current fiscal year.
Several institutional investors and hedge funds have recently bought and sold shares of BCOR. Hill Path Capital LP increased its holdings of Blucora shares by 380.3% in Q4. Hill Path Capital LP now owns 2,312,749 shares of the information services provider valued at $40,057,000 after purchasing an additional 1,831,249 shares during the period. Engine Capital Management LP increased its stake in Blucora by 162.2% during the first quarter. Engine Capital Management LP now owns 1,798,128 shares of the information services provider worth $35,153,000 after buying an additional 1,112,420 shares in the last quarter. Norges Bank acquired a new position in Blucora during the fourth quarter worth $7,537,000. Phase 2 Partners LLC acquired a new equity position in Blucora in the first quarter worth $7,350,000. Finally, FMR LLC increased its shareholding in Blucora by 47.3% in the first quarter. FMR LLC now owns 670,352 shares of the information services provider worth $22,376,000 after acquiring an additional 215,375 shares in the last quarter. 94.34% of the shares are held by institutional investors and hedge funds.
Blucora Company Profile (Get an assessment)
Blucora, Inc provides technology-enabled financial solutions to consumers, small business owners, tax professionals, financial advisors, and chartered accounting firms in the United States. The Company operates through two segments, Wealth Management and Tax Preparation. The Wealth Management segment offers an integrated platform of brokerage, investment advisory and insurance services to financial advisors.
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