Bright Horizons Family Solutions Inc. (BFAM) Raised to Buy at Zacks Investment Research

Bright Horizons Family Solutions Inc. (NYSE:BFAM) was upgraded by Zacks Investment Research from a “hold” rating to a “buy” rating in a research report issued on Friday. The firm currently has a $91.00 target price on the stock. Zacks Investment Research‘s target price would indicate a potential upside of 12.40% from the company’s current price.

According to Zacks, “Bright Horizons Family Solutions Inc. is engaged in providing employer-sponsored child care, early education and work/life solutions. Its employer-sponsored child care programs include child care and early education centers, infant/toddler/preschool care and education, full and part-time child care, kindergarten, school-age programs, summer camps and back-up care. Bright Horizons manages child care centers for corporations, hospitals, universities and government agencies The Company operates primarily in North America, Europe and India. Bright Horizons Family Solutions Inc. is based in Watertown, Massachusetts. “

A number of other brokerages have also recently commented on BFAM. BidaskClub cut shares of Bright Horizons Family Solutions from a “strong-buy” rating to a “buy” rating in a research report on Tuesday, June 27th. Royal Bank Of Canada reiterated a “buy” rating on shares of Bright Horizons Family Solutions in a research report on Wednesday, August 9th. BMO Capital Markets reiterated a “market perform” rating and issued a $85.00 target price (up previously from $83.00) on shares of Bright Horizons Family Solutions in a research report on Thursday, August 3rd. Finally, Citigroup Inc. started coverage on shares of Bright Horizons Family Solutions in a research report on Tuesday, July 18th. They issued a “buy” rating and a $90.00 target price on the stock. Three investment analysts have rated the stock with a hold rating and five have assigned a buy rating to the company. Bright Horizons Family Solutions currently has an average rating of “Buy” and a consensus target price of $84.17.

Shares of Bright Horizons Family Solutions (BFAM) traded down 0.41% on Friday, hitting $80.96. 200,803 shares of the stock traded hands. Bright Horizons Family Solutions has a 52 week low of $59.00 and a 52 week high of $82.00. The stock has a 50-day moving average price of $79.57 and a 200 day moving average price of $76.01. The firm has a market cap of $4.79 billion, a P/E ratio of 43.20 and a beta of 0.13.

Bright Horizons Family Solutions (NYSE:BFAM) last posted its quarterly earnings data on Tuesday, August 1st. The company reported $0.70 earnings per share for the quarter, beating the Thomson Reuters’ consensus estimate of $0.67 by $0.03. The firm had revenue of $445.55 million for the quarter, compared to analysts’ expectations of $443.90 million. Bright Horizons Family Solutions had a net margin of 6.91% and a return on equity of 19.19%. The business’s quarterly revenue was up 10.8% on a year-over-year basis. During the same quarter last year, the company posted $0.61 EPS. Equities research analysts predict that Bright Horizons Family Solutions will post $2.64 EPS for the current fiscal year.

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In other news, COO Mary Lou Burke sold 1,000 shares of Bright Horizons Family Solutions stock in a transaction dated Wednesday, July 19th. The shares were sold at an average price of $79.98, for a total transaction of $79,980.00. Following the sale, the chief operating officer now owns 32,266 shares of the company’s stock, valued at approximately $2,580,634.68. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Also, Director Mary Ann Tocio sold 6,666 shares of Bright Horizons Family Solutions stock in a transaction dated Tuesday, July 11th. The shares were sold at an average price of $76.11, for a total transaction of $507,349.26. Following the sale, the director now directly owns 67,284 shares in the company, valued at approximately $5,120,985.24. The disclosure for this sale can be found here. Insiders sold 63,429 shares of company stock worth $4,987,519 in the last 90 days. Corporate insiders own 2.90% of the company’s stock.

Large investors have recently bought and sold shares of the stock. Acrospire Investment Management LLC boosted its stake in Bright Horizons Family Solutions by 250.0% during the second quarter. Acrospire Investment Management LLC now owns 1,400 shares of the company’s stock worth $108,000 after acquiring an additional 1,000 shares in the last quarter. Public Employees Retirement Association of Colorado bought a new stake in Bright Horizons Family Solutions during the second quarter worth about $123,000. Advisor Group Inc. boosted its stake in Bright Horizons Family Solutions by 213.6% during the second quarter. Advisor Group Inc. now owns 1,988 shares of the company’s stock worth $152,000 after acquiring an additional 1,354 shares in the last quarter. BNP Paribas Arbitrage SA boosted its stake in Bright Horizons Family Solutions by 83.5% during the first quarter. BNP Paribas Arbitrage SA now owns 2,621 shares of the company’s stock worth $190,000 after acquiring an additional 1,193 shares in the last quarter. Finally, Connable Office Inc. bought a new stake in Bright Horizons Family Solutions during the second quarter worth about $208,000. 97.23% of the stock is currently owned by institutional investors and hedge funds.

About Bright Horizons Family Solutions

Bright Horizons Family Solutions Inc is a provider of child care, early education and other services. The Company provides services under multi-year contracts with employers offering child care and other dependent care solutions as part of their employee benefits packages. Its segments include full service center-based care services, back-up dependent care services and other educational advisory services.

Analyst Recommendations for Bright Horizons Family Solutions (NYSE:BFAM)

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