Huron Consulting Group (NASDAQ:HURN) Downgraded by Zacks Investment Research

Huron Consulting Group (NASDAQ:HURN) was downgraded by Zacks Investment Research from a “buy” rating to a “hold” rating in a research report issued on Wednesday, Zacks.com reports.

According to Zacks, “Huron Consulting Group Inc. is the parent company of Huron Consulting Services LLC, an independent provider of financial and operational consulting services. Huron’s experienced and credentialed professionals employ their expertise in accounting, finance, economics and operations to a wide variety of both financially sound and distressed organizations, including Fortune 500 companies, medium-sized businesses, leading academic institutions, healthcare organizations and the law firms that represent these various organizations. “

Separately, Barrington Research reissued an “outperform” rating and issued a $67.00 price target (up previously from $63.00) on shares of Huron Consulting Group in a research report on Tuesday, May 18th.

Shares of NASDAQ:HURN traded down $0.20 during trading on Wednesday, reaching $45.74. The stock had a trading volume of 131,968 shares, compared to its average volume of 116,870. Huron Consulting Group has a 52 week low of $37.46 and a 52 week high of $61.99. The stock has a market capitalization of $1.03 billion, a price-to-earnings ratio of 42.75 and a beta of 0.94. The company has a debt-to-equity ratio of 0.49, a current ratio of 1.86 and a quick ratio of 1.86. The firm’s fifty day moving average is $51.34.

Huron Consulting Group (NASDAQ:HURN) last released its quarterly earnings results on Tuesday, May 4th. The business services provider reported $0.35 EPS for the quarter, missing the Zacks’ consensus estimate of $0.36 by ($0.01). Huron Consulting Group had a net margin of 2.86% and a return on equity of 8.41%. The firm had revenue of $203.30 million during the quarter, compared to the consensus estimate of $198.29 million. During the same period in the prior year, the business earned $0.44 EPS. The company’s revenue for the quarter was down 8.7% compared to the same quarter last year. On average, equities analysts expect that Huron Consulting Group will post 2.52 earnings per share for the current fiscal year.

In related news, CEO James H. Roth sold 17,000 shares of the business’s stock in a transaction on Monday, June 7th. The shares were sold at an average price of $52.91, for a total transaction of $899,470.00. Following the transaction, the chief executive officer now owns 148,722 shares of the company’s stock, valued at $7,868,881.02. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. Insiders have sold 17,945 shares of company stock worth $950,540 in the last ninety days. 2.13% of the stock is currently owned by insiders.

Hedge funds have recently made changes to their positions in the stock. BlackRock Inc. increased its position in Huron Consulting Group by 4.5% during the first quarter. BlackRock Inc. now owns 1,716,132 shares of the business services provider’s stock worth $86,458,000 after acquiring an additional 74,162 shares during the period. Credit Suisse AG increased its holdings in Huron Consulting Group by 4.4% in the 1st quarter. Credit Suisse AG now owns 666,005 shares of the business services provider’s stock valued at $33,554,000 after buying an additional 27,931 shares during the period. Norges Bank bought a new stake in Huron Consulting Group in the 4th quarter valued at $22,998,000. Rice Hall James & Associates LLC increased its holdings in Huron Consulting Group by 11.4% in the 4th quarter. Rice Hall James & Associates LLC now owns 62,046 shares of the business services provider’s stock valued at $3,658,000 after buying an additional 6,374 shares during the period. Finally, UBS Asset Management Americas Inc. increased its holdings in Huron Consulting Group by 10.9% in the 1st quarter. UBS Asset Management Americas Inc. now owns 23,777 shares of the business services provider’s stock valued at $1,198,000 after buying an additional 2,334 shares during the period. 90.35% of the stock is currently owned by institutional investors and hedge funds.

About Huron Consulting Group

Huron Consulting Group Inc, a professional services firm, provides consultancy services in the United States and internationally. Its Healthcare segment provides advisory services in the areas of financial and operational improvement, care transformation, and revenue cycle managed services; organizational transformation; and digital, technology and analytic solutions to national and regional hospitals, integrated health systems, academic medical centers, community hospitals, and medical groups.

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