Barclays Forecasts Strong Price Appreciation for AllianceBernstein (NYSE:AB) Stock

AllianceBernstein (NYSE:AB - Get Free Report) had its price target upped by equities researchers at Barclays from $34.00 to $36.00 in a research note issued on Wednesday,Benzinga reports. The firm currently has an "equal weight" rating on the asset manager's stock. Barclays's price target indicates a potential downside of 0.41% from the company's previous close.

A number of other research firms have also issued reports on AB. Evercore ISI dropped their price objective on shares of AllianceBernstein from $41.00 to $38.00 and set an "outperform" rating on the stock in a research note on Friday, April 11th. TD Cowen lowered their target price on AllianceBernstein from $37.50 to $34.00 and set a "hold" rating for the company in a research note on Wednesday, April 9th. Bank of America downgraded AllianceBernstein from a "buy" rating to a "neutral" rating and reduced their price target for the company from $42.00 to $38.00 in a report on Thursday, April 3rd. Finally, Sanford C. Bernstein cut AllianceBernstein from a "buy" rating to a "neutral" rating and set a $38.00 target price for the company. in a research note on Thursday, April 3rd. Four research analysts have rated the stock with a hold rating and two have issued a buy rating to the company's stock. Based on data from MarketBeat.com, AllianceBernstein presently has a consensus rating of "Hold" and an average price target of $37.50.

AllianceBernstein Trading Down 2.0 %

AB traded down $0.75 during trading on Wednesday, hitting $36.15. 144,350 shares of the company's stock were exchanged, compared to its average volume of 442,820. The firm has a market cap of $4.00 billion, a P/E ratio of 9.72, a price-to-earnings-growth ratio of 0.78 and a beta of 0.97. The stock has a 50 day moving average price of $37.05 and a 200 day moving average price of $37.00. AllianceBernstein has a 1 year low of $30.57 and a 1 year high of $41.37.

AllianceBernstein (NYSE:AB - Get Free Report) last released its quarterly earnings data on Thursday, February 6th. The asset manager reported $1.05 EPS for the quarter, beating the consensus estimate of $0.87 by $0.18. AllianceBernstein had a return on equity of 17.88% and a net margin of 9.46%. Analysts forecast that AllianceBernstein will post 3.58 earnings per share for the current fiscal year.

Institutional Investors Weigh In On AllianceBernstein

Several institutional investors and hedge funds have recently bought and sold shares of the business. Transce3nd LLC bought a new stake in shares of AllianceBernstein in the 4th quarter worth approximately $25,000. Luken Investment Analytics LLC bought a new position in shares of AllianceBernstein during the fourth quarter worth about $37,000. Summit Securities Group LLC bought a new stake in AllianceBernstein in the 4th quarter valued at about $41,000. Harbor Investment Advisory LLC acquired a new position in AllianceBernstein during the 1st quarter valued at about $48,000. Finally, HHM Wealth Advisors LLC acquired a new stake in shares of AllianceBernstein in the fourth quarter valued at approximately $61,000. Institutional investors and hedge funds own 19.25% of the company's stock.

AllianceBernstein Company Profile

AllianceBernstein Holding L.P. is a publicly owned investment manager. The firm is a related adviser The firm manages separate client focused portfolios for its clients. The firm primarily invests in common and preferred stocks, warrants and convertible securities, government and corporate fxed-income securities, commodities, currencies, real estate-related assets and infation-protected securities.