Zacks Investment Research Upgrades Bright Horizons Family Solutions Inc. (BFAM) to “Buy”

Bright Horizons Family Solutions Inc. (NYSE:BFAM) was upgraded by Zacks Investment Research from a “hold” rating to a “buy” rating in a note issued to investors on Friday. The brokerage presently has a $91.00 target price on the stock. Zacks Investment Research‘s price objective suggests a potential upside of 12.40% from the stock’s previous close.

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 research firms also recently weighed in on BFAM. BidaskClub upgraded Bright Horizons Family Solutions from a “hold” rating to a “buy” rating in a research report on Thursday, August 10th. Royal Bank Of Canada restated a “buy” rating on shares of Bright Horizons Family Solutions in a research report on Wednesday, August 9th. Citigroup Inc. restated a “buy” rating and set a $92.00 price target (up previously from $90.00) on shares of Bright Horizons Family Solutions in a research report on Thursday, August 3rd. Finally, BMO Capital Markets restated a “market perform” rating and set a $85.00 price target (up previously from $83.00) on shares of Bright Horizons Family Solutions in a research report on Thursday, August 3rd. Three investment analysts have rated the stock with a hold rating and five have assigned a buy rating to the stock. The stock currently has an average rating of “Buy” and an average target price of $84.17.

Shares of Bright Horizons Family Solutions (BFAM) opened at 80.96 on Friday. The company’s 50-day moving average price is $79.63 and its 200-day moving average price is $76.10. The company has a market cap of $4.79 billion, a price-to-earnings ratio of 43.20 and a beta of 0.13. Bright Horizons Family Solutions has a 12 month low of $59.00 and a 12 month high of $82.00.

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

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In related news, Director Mary Ann Tocio sold 6,666 shares of the firm’s stock in a transaction dated Tuesday, July 11th. The stock was sold at an average price of $76.11, for a total value of $507,349.26. Following the sale, the director now directly owns 67,284 shares of the company’s stock, valued at $5,120,985.24. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, COO Mary Lou Burke sold 5,000 shares of the firm’s stock in a transaction dated Wednesday, July 5th. The stock was sold at an average price of $76.60, for a total value of $383,000.00. Following the completion of the sale, the chief operating officer now directly owns 36,266 shares in the company, valued at $2,777,975.60. The disclosure for this sale can be found here. In the last quarter, insiders sold 63,429 shares of company stock worth $4,987,519. Company insiders own 2.90% of the company’s stock.

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

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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