TD Boosts FirstService (NASDAQ:FSV) Price Target to $207.00

Key Points

• TD raised its price target on FirstService to $207 from $204 and kept a buy rating, implying about 42% upside from the stock’s current price.
• Analyst sentiment remains constructive overall, with 8 Buy ratings and 3 Hold ratings; MarketBeat’s consensus view is a Moderate Buy with an average target price of $195.89.
• FirstService recently beat quarterly expectations, reporting $0.95 EPS versus $0.89 expected and $1.30 billion in revenue, while revenue rose 5.3% year over year.

FirstService (NASDAQ:FSV - Get Free Report) TSE: FSV had its price target boosted by equities researchers at TD from $204.00 to $207.00 in a note issued to investors on Tuesday,BayStreet.CA reports. The firm currently has a "buy" rating on the financial services provider's stock. TD's price target would indicate a potential upside of 42.22% from the stock's current price.

Several other research firms also recently weighed in on FSV. Loop Capital initiated coverage on FirstService in a research note on Monday, May 4th. They issued a "hold" rating and a $140.00 price objective for the company. Stifel Nicolaus decreased their target price on FirstService from $215.00 to $200.00 and set a "buy" rating on the stock in a research report on Monday, April 27th. TD Cowen restated a "buy" rating and issued a $204.00 price target on shares of FirstService in a research report on Wednesday, June 3rd. Weiss Ratings downgraded FirstService from a "hold (c)" rating to a "hold (c-)" rating in a research note on Friday, May 29th. Finally, Wall Street Zen raised FirstService from a "hold" rating to a "buy" rating in a research note on Saturday, May 9th. Eight research analysts have rated the stock with a Buy rating and three have issued a Hold rating to the company's stock. According to data from MarketBeat.com, the company has an average rating of "Moderate Buy" and an average target price of $195.89.

FirstService Price Performance

Shares of NASDAQ FSV traded up $2.27 during midday trading on Tuesday, hitting $145.55. The company had a trading volume of 74,383 shares, compared to its average volume of 216,477. The firm has a market capitalization of $6.69 billion, a price-to-earnings ratio of 41.17, a price-to-earnings-growth ratio of 4.35 and a beta of 0.94. FirstService has a twelve month low of $119.41 and a twelve month high of $209.66. The business has a 50-day simple moving average of $137.20 and a two-hundred day simple moving average of $146.08. The company has a quick ratio of 1.66, a current ratio of 1.66 and a debt-to-equity ratio of 0.74.

FirstService (NASDAQ:FSV - Get Free Report) TSE: FSV last issued its earnings results on Thursday, April 23rd. The financial services provider reported $0.95 earnings per share for the quarter, topping the consensus estimate of $0.89 by $0.06. FirstService had a net margin of 2.92% and a return on equity of 17.91%. The company had revenue of $1.30 billion for the quarter, compared to analyst estimates of $1.29 billion. During the same period in the prior year, the business posted $0.92 earnings per share. The firm's revenue for the quarter was up 5.3% compared to the same quarter last year. Equities research analysts anticipate that FirstService will post 5.55 earnings per share for the current year.

Hedge Funds Weigh In On FirstService

Several hedge funds have recently bought and sold shares of the stock. PensionDanmark Pensionsforsikringsaktieselskab raised its holdings in shares of FirstService by 39.4% in the second quarter. PensionDanmark Pensionsforsikringsaktieselskab now owns 21,200 shares of the financial services provider's stock worth $3,014,000 after acquiring an additional 5,990 shares during the last quarter. Hilltop National Bank boosted its stake in shares of FirstService by 4.1% during the second quarter. Hilltop National Bank now owns 2,055 shares of the financial services provider's stock valued at $292,000 after acquiring an additional 81 shares during the last quarter. Glenmede Trust Co. NA increased its position in FirstService by 32.8% during the 1st quarter. Glenmede Trust Co. NA now owns 5,585 shares of the financial services provider's stock worth $776,000 after purchasing an additional 1,378 shares in the last quarter. Summitry LLC increased its position in FirstService by 44.9% during the 1st quarter. Summitry LLC now owns 2,670 shares of the financial services provider's stock worth $371,000 after purchasing an additional 827 shares in the last quarter. Finally, Argent Capital Management LLC raised its stake in FirstService by 52.0% in the 1st quarter. Argent Capital Management LLC now owns 50,787 shares of the financial services provider's stock valued at $7,056,000 after purchasing an additional 17,377 shares during the last quarter. Hedge funds and other institutional investors own 69.35% of the company's stock.

FirstService Company Profile

FirstService Corporation, founded in 1989 and headquartered in Toronto, Ontario, is a leading provider of property services in North America. The company operates through two principal segments—FirstService Residential and FirstService Brands—offering a broad range of services to residential, commercial and homeowner association clients.

FirstService Residential delivers community management, financial oversight and consulting services to thousands of residential communities across the United States and Canada.

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