B. Riley Cuts Franklin Covey (NYSE:FC) Price Target to $25.00

Franklin Covey (NYSE:FC) had its price objective lowered by B. Riley from $30.00 to $25.00 in a research report report published on Friday morning, The Fly reports. B. Riley also issued estimates for Franklin Covey’s Q3 2020 earnings at ($0.21) EPS, Q4 2020 earnings at $0.30 EPS, FY2020 earnings at $0.12 EPS and FY2022 earnings at $0.38 EPS.

A number of other equities research analysts have also recently commented on the stock. Roth Capital reduced their target price on shares of Franklin Covey from $51.00 to $28.00 in a research report on Friday, April 3rd. Zacks Investment Research cut shares of Franklin Covey from a hold rating to a sell rating in a research report on Thursday, April 2nd. ValuEngine upgraded shares of Franklin Covey from a hold rating to a buy rating in a research report on Thursday, April 9th. Finally, Barrington Research restated a buy rating and set a $30.00 price objective on shares of Franklin Covey in a research report on Thursday, July 2nd. One research analyst has rated the stock with a sell rating, one has given a hold rating and three have issued a buy rating to the company’s stock. The stock has an average rating of Hold and an average target price of $30.00.

Shares of NYSE FC opened at $18.60 on Friday. The firm has a 50-day simple moving average of $21.79 and a 200-day simple moving average of $25.00. The stock has a market capitalization of $257.98 million, a price-to-earnings ratio of -54.70, a price-to-earnings-growth ratio of 62.00 and a beta of 1.56. The company has a quick ratio of 1.00, a current ratio of 1.03 and a debt-to-equity ratio of 0.45. Franklin Covey has a 52 week low of $12.61 and a 52 week high of $41.85.

Franklin Covey (NYSE:FC) last issued its earnings results on Thursday, July 9th. The business services provider reported ($0.79) EPS for the quarter, missing the Zacks’ consensus estimate of ($0.30) by ($0.49). The business had revenue of $37.11 million during the quarter, compared to analyst estimates of $48.88 million. Franklin Covey had a negative net margin of 2.12% and a positive return on equity of 7.12%. As a group, equities research analysts expect that Franklin Covey will post 0.02 EPS for the current year.

In other Franklin Covey news, Director Esther Kay Stepp sold 4,000 shares of the stock in a transaction dated Tuesday, April 21st. The shares were sold at an average price of $17.20, for a total transaction of $68,800.00. Following the completion of the transaction, the director now owns 39,429 shares of the company’s stock, valued at $678,178.80. The sale was disclosed in a legal filing with the SEC, which is available at this link. Also, Director Michael Fung bought 4,830 shares of the stock in a transaction on Monday, May 11th. The shares were bought at an average cost of $20.77 per share, with a total value of $100,319.10. Following the purchase, the director now owns 40,353 shares of the company’s stock, valued at $838,131.81. The disclosure for this purchase can be found here. Over the last 90 days, insiders have sold 12,000 shares of company stock valued at $242,280. 33.20% of the stock is owned by company insiders.

Hedge funds have recently made changes to their positions in the business. Point72 Hong Kong Ltd purchased a new position in Franklin Covey during the fourth quarter worth about $26,000. Bank of Montreal Can boosted its stake in Franklin Covey by 43.1% during the fourth quarter. Bank of Montreal Can now owns 1,222 shares of the business services provider’s stock worth $39,000 after buying an additional 368 shares during the period. BNP Paribas Arbitrage SA boosted its stake in Franklin Covey by 106.8% during the first quarter. BNP Paribas Arbitrage SA now owns 3,023 shares of the business services provider’s stock worth $47,000 after buying an additional 1,561 shares during the period. Citigroup Inc. boosted its stake in Franklin Covey by 26.0% during the first quarter. Citigroup Inc. now owns 3,508 shares of the business services provider’s stock worth $55,000 after buying an additional 724 shares during the period. Finally, Victory Capital Management Inc. boosted its stake in Franklin Covey by 68.2% during the fourth quarter. Victory Capital Management Inc. now owns 2,876 shares of the business services provider’s stock worth $93,000 after buying an additional 1,166 shares during the period. 61.31% of the stock is owned by institutional investors.

About Franklin Covey

Franklin Covey Co provides training and consulting services in the areas of leadership, productivity, strategic execution, trust, sales force performance, customer loyalty, and communication effectiveness skills for organizations and individuals worldwide. The company operates through three segments: Direct Offices, Education Practice, and International Licensees.

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