The Providence Service Corporation (PRSC) Earns “Outperform” Rating from Barrington Research

Barrington Research reissued their outperform rating on shares of The Providence Service Corporation (NASDAQ:PRSC) in a research note released on Thursday morning, The Fly reports. They currently have a $67.00 target price on the stock.

PRSC has been the topic of a number of other research reports. ValuEngine raised shares of The Providence Service Corporation from a sell rating to a hold rating in a research report on Thursday, August 10th. BidaskClub cut shares of The Providence Service Corporation from a hold rating to a sell rating in a research report on Wednesday, August 2nd. Finally, TheStreet raised shares of The Providence Service Corporation from a c+ rating to a b rating in a research report on Tuesday, November 7th. One equities research analyst has rated the stock with a sell rating, two have issued a hold rating and one has given a buy rating to the company. The Providence Service Corporation presently has an average rating of Hold and a consensus target price of $67.00.

Shares of The Providence Service Corporation (NASDAQ PRSC) traded down $1.38 during mid-day trading on Thursday, hitting $55.61. 27,800 shares of the stock traded hands, compared to its average volume of 34,378. The firm has a market cap of $739.95, a PE ratio of 42.13, a price-to-earnings-growth ratio of 3.26 and a beta of 0.81. The Providence Service Corporation has a 1 year low of $34.88 and a 1 year high of $58.01.

The Providence Service Corporation (NASDAQ:PRSC) last announced its quarterly earnings results on Tuesday, November 7th. The company reported $0.32 earnings per share for the quarter, beating the consensus estimate of $0.31 by $0.01. The Providence Service Corporation had a net margin of 4.91% and a return on equity of 6.29%. The firm had revenue of $409.50 million for the quarter, compared to analysts’ expectations of $407.00 million. During the same quarter in the previous year, the company posted $0.35 EPS. The company’s revenue was down .7% compared to the same quarter last year. sell-side analysts expect that The Providence Service Corporation will post 1.42 earnings per share for the current fiscal year.

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Several institutional investors and hedge funds have recently modified their holdings of PRSC. AJO LP increased its stake in shares of The Providence Service Corporation by 783.3% during the second quarter. AJO LP now owns 142,996 shares of the company’s stock worth $7,237,000 after buying an additional 126,807 shares during the period. Ameriprise Financial Inc. increased its stake in shares of The Providence Service Corporation by 82.0% during the second quarter. Ameriprise Financial Inc. now owns 169,560 shares of the company’s stock worth $8,582,000 after buying an additional 76,380 shares during the period. Wedge Capital Management L L P NC increased its stake in shares of The Providence Service Corporation by 17.0% during the second quarter. Wedge Capital Management L L P NC now owns 471,578 shares of the company’s stock worth $23,867,000 after buying an additional 68,420 shares during the period. Dimensional Fund Advisors LP increased its stake in shares of The Providence Service Corporation by 7.0% during the second quarter. Dimensional Fund Advisors LP now owns 936,513 shares of the company’s stock worth $47,397,000 after buying an additional 61,649 shares during the period. Finally, TIAA CREF Investment Management LLC increased its stake in shares of The Providence Service Corporation by 74.8% during the second quarter. TIAA CREF Investment Management LLC now owns 143,120 shares of the company’s stock worth $7,243,000 after buying an additional 61,241 shares during the period. 93.18% of the stock is currently owned by institutional investors and hedge funds.

About The Providence Service Corporation

The Providence Service Corporation (Providence) is a holding company. The Company, through its subsidiaries, is engaged in the provision of healthcare and workforce development services for public and private sector entities. The Company’s segments include Non-Emergency Transportation Services (NET Services), Workforce Development Services (WD Services) and Matrix Investment.

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