Zacks Investment Research Downgrades Huron Consulting Group (NASDAQ:HURN) to Hold

Last updated on Wednesday, July 28, 2021 | 2021 MarketBeat

Huron Consulting Group (NASDAQ:HURN) was downgraded by Zacks Investment Research from a "buy" rating to a "hold" rating in a research note issued to investors on Wednesday, Zacks.com reports.

According to Zacks, "Huron Consulting Group Inc. is the parent company of Huron Consulting Services LLC, an independent provider of financial and operational consulting services. Huron's experienced and credentialed professionals employ their expertise in accounting, finance, economics and operations to a wide variety of both financially sound and distressed organizations, including Fortune 500 companies, medium-sized businesses, leading academic institutions, healthcare organizations and the law firms that represent these various organizations. "

Separately, Barrington Research reissued an "outperform" rating and issued a $67.00 price target (up from $63.00) on shares of Huron Consulting Group in a research report on Tuesday, May 18th.

HURN opened at $46.93 on Wednesday. The company has a market cap of $1.06 billion, a price-to-earnings ratio of 43.86 and a beta of 0.94. The company has a current ratio of 1.86, a quick ratio of 1.86 and a debt-to-equity ratio of 0.49. Huron Consulting Group has a 12 month low of $37.46 and a 12 month high of $61.99. The stock has a fifty day moving average of $50.59.

Huron Consulting Group (NASDAQ:HURN) last released its quarterly earnings results on Tuesday, May 4th. The business services provider reported $0.35 EPS for the quarter, missing the Thomson Reuters' consensus estimate of $0.36 by ($0.01). The company had revenue of $203.30 million during the quarter, compared to the consensus estimate of $198.29 million. Huron Consulting Group had a return on equity of 8.41% and a net margin of 2.86%. The company's revenue was down 8.7% on a year-over-year basis. During the same period in the previous year, the firm posted $0.44 earnings per share. On average, research analysts forecast that Huron Consulting Group will post 2.52 earnings per share for the current fiscal year.

In related news, CEO James H. Roth sold 17,000 shares of the company's stock in a transaction dated Monday, June 7th. The stock was sold at an average price of $52.91, for a total transaction of $899,470.00. Following the transaction, the chief executive officer now directly owns 148,722 shares of the company's stock, valued at approximately $7,868,881.02. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at this link. Insiders have sold a total of 17,945 shares of company stock worth $950,540 over the last ninety days. 2.13% of the stock is currently owned by corporate insiders.

A number of institutional investors have recently bought and sold shares of HURN. The Manufacturers Life Insurance Company grew its stake in Huron Consulting Group by 2.9% during the 4th quarter. The Manufacturers Life Insurance Company now owns 13,555 shares of the business services provider's stock valued at $799,000 after purchasing an additional 379 shares during the last quarter. Price T Rowe Associates Inc. MD purchased a new stake in Huron Consulting Group during the 4th quarter valued at about $25,891,000. Principal Financial Group Inc. grew its stake in Huron Consulting Group by 11.1% during the 4th quarter. Principal Financial Group Inc. now owns 289,007 shares of the business services provider's stock valued at $17,037,000 after purchasing an additional 28,900 shares during the last quarter. Norges Bank purchased a new stake in Huron Consulting Group during the 4th quarter valued at about $22,998,000. Finally, Susquehanna International Group LLP grew its stake in Huron Consulting Group by 93.8% during the 4th quarter. Susquehanna International Group LLP now owns 40,301 shares of the business services provider's stock valued at $2,376,000 after purchasing an additional 19,506 shares during the last quarter. Institutional investors and hedge funds own 90.35% of the company's stock.

About Huron Consulting Group

Huron Consulting Group Inc, a professional services firm, provides consultancy services in the United States and internationally. Its Healthcare segment provides advisory services in the areas of financial and operational improvement, care transformation, and revenue cycle managed services; organizational transformation; and digital, technology and analytic solutions to national and regional hospitals, integrated health systems, academic medical centers, community hospitals, and medical groups.

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