FirstService (NASDAQ:FSV) Stock Rating Raised to "Buy" at Wall Street Zen

Key Points

• Wall Street Zen upgraded FirstService from “hold” to “buy.” MarketBeat’s analyst consensus is “Moderate Buy,” with an average price target of $179.82.
• FirstService beat quarterly expectations, reporting EPS of $1.89 versus $1.84 expected and revenue of $1.51 billion versus $1.48 billion; revenue rose 5.8% year over year.
• Several institutional investors increased their holdings in the third quarter, and hedge funds and other institutions collectively own 69.35% of the stock.

FirstService (NASDAQ:FSV - Get Free Report) TSE: FSV was upgraded by equities researchers at Wall Street Zen from a "hold" rating to a "buy" rating in a note issued to investors on Saturday, Wall Street Zen reports.

FSV has been the topic of a number of other research reports. Scotiabank reissued an "outperform" rating on shares of FirstService in a research report on Friday, October 23rd. Raymond James Financial reaffirmed an "outperform" rating and issued a $190.00 price objective on shares of FirstService in a report on Friday, October 23rd. Scotia raised their price objective on FirstService from $170.00 to $175.00 and gave the stock a "sector perform" rating in a research note on Friday, October 23rd. Canadian Imperial Bank of Commerce raised their target price on FirstService from $170.00 to $178.00 and gave the company an "outperform" rating in a report on Friday, October 23rd. Finally, Weiss Ratings upgraded shares of FirstService from a "hold (c-)" rating to a "hold (c)" rating in a research report on Thursday, October 22nd. Eight analysts have rated the stock with a Buy rating and four have given a Hold rating to the company's stock. Based on data from MarketBeat, the stock presently has an average rating of "Moderate Buy" and an average price target of $179.82.

FirstService Trading Down 0.3%

FirstService stock opened at $153.12 on Friday. FirstService has a 1 year low of $119.41 and a 1 year high of $166.73. The company has a market cap of $6.69 billion, a P/E ratio of 46.68, a PEG ratio of 2.86 and a beta of 0.89. The company has a debt-to-equity ratio of 1.66, a quick ratio of 1.63 and a current ratio of 1.56. The firm's 50-day moving average is $136.63 and its 200-day moving average is $142.17.

FirstService (NASDAQ:FSV - Get Free Report) TSE: FSV last announced its quarterly earnings data on Thursday, October 22nd. The financial services provider reported $1.89 EPS for the quarter, beating analysts' consensus estimates of $1.84 by $0.05. The firm had revenue of $1.51 billion for the quarter, compared to the consensus estimate of $1.48 billion. FirstService had a net margin of 2.59% and a return on equity of 19.66%. The firm's revenue was up 5.8% on a year-over-year basis. During the same period in the previous year, the firm posted $1.76 earnings per share. On average, equities analysts expect that FirstService will post 5.63 earnings per share for the current year.

Institutional Inflows and Outflows

Institutional investors and hedge funds have recently made changes to their positions in the stock. BCV Asset Management Inc. raised its holdings in FirstService by 33.7% in the third quarter. BCV Asset Management Inc. now owns 677,078 shares of the financial services provider's stock valued at $87,268,000 after acquiring an additional 170,544 shares in the last quarter. King Luther Capital Management Corp increased its position in FirstService by 15.7% during the third quarter. King Luther Capital Management Corp now owns 48,396 shares of the financial services provider's stock worth $6,189,000 after buying an additional 6,571 shares in the last quarter. Vise Technologies Inc. purchased a new position in FirstService during the third quarter worth about $290,000. Crossmark Global Holdings Inc. boosted its position in FirstService by 27.1% during the 3rd quarter. Crossmark Global Holdings Inc. now owns 2,286 shares of the financial services provider's stock worth $292,000 after purchasing an additional 488 shares during the period. Finally, Louisbourg Investments Inc. boosted its position in FirstService by 5.7% in the 3rd quarter. Louisbourg Investments Inc. now owns 33,297 shares of the financial services provider's stock valued at $4,276,000 after buying an additional 1,807 shares during the last quarter. 69.35% of the stock is currently owned by hedge funds and other institutional investors.

About FirstService

FirstService Corporation is a Canadian provider of property management and property services serving customers primarily in the United States and Canada. The company operates through two main businesses: FirstService Residential and FirstService Brands.

FirstService Residential provides property management services for condominium and homeowners' associations, cooperatives, and other residential communities. Its services include community administration, financial management, maintenance coordination, customer support, and related operational services.

FirstService Brands operates and supports a network of property-service businesses, including companies involved in property restoration, painting, flooring, window treatments, and other residential and commercial services.

This instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest reporting and unbiased coverage. Please send any questions or comments about this story to contact@marketbeat.com.