FirstService (NASDAQ:FSV) Price Target Raised to $182.00 at TD Securities

FirstService (NASDAQ:FSV - Get Free Report) TSE: FSV had its target price lifted by stock analysts at TD Securities from $179.00 to $182.00 in a research report issued to clients and investors on Thursday, BayStreet.CA reports. The brokerage currently has a "hold" rating on the financial services provider's stock. TD Securities' target price would indicate a potential downside of 3.24% from the company's previous close.

Several other brokerages have also commented on FSV. Royal Bank of Canada raised their price target on shares of FirstService from $187.00 to $192.00 and gave the company an "outperform" rating in a research note on Friday, July 26th. Scotiabank lifted their price target on shares of FirstService from $190.00 to $200.00 and gave the stock a "sector perform" rating in a research report on Tuesday. Three equities research analysts have rated the stock with a hold rating and four have assigned a buy rating to the company. According to data from MarketBeat.com, the company presently has an average rating of "Moderate Buy" and an average target price of $191.67.

FirstService Stock Performance

NASDAQ FSV traded up $0.41 during trading hours on Thursday, reaching $188.10. The company's stock had a trading volume of 23,710 shares, compared to its average volume of 83,067. The company has a current ratio of 1.84, a quick ratio of 1.84 and a debt-to-equity ratio of 1.23. The business has a 50-day simple moving average of $178.59 and a 200 day simple moving average of $163.21. FirstService has a 52 week low of $134.77 and a 52 week high of $189.89. The stock has a market cap of $8.46 billion, a PE ratio of 93.12 and a beta of 1.05.

FirstService (NASDAQ:FSV - Get Free Report) TSE: FSV last issued its earnings results on Thursday, July 25th. The financial services provider reported $1.36 earnings per share (EPS) for the quarter, topping analysts' consensus estimates of $1.26 by $0.10. FirstService had a net margin of 1.73% and a return on equity of 15.60%. The firm had revenue of $1.30 billion for the quarter, compared to analysts' expectations of $1.28 billion. During the same quarter last year, the company posted $1.37 earnings per share. FirstService's revenue was up 15.9% on a year-over-year basis. Equities research analysts predict that FirstService will post 4.35 earnings per share for the current fiscal year.

Institutional Investors Weigh In On FirstService

A number of hedge funds and other institutional investors have recently made changes to their positions in FSV. Millennium Management LLC lifted its stake in shares of FirstService by 2,136.1% during the 2nd quarter. Millennium Management LLC now owns 209,297 shares of the financial services provider's stock worth $31,853,000 after buying an additional 199,937 shares during the last quarter. The Manufacturers Life Insurance Company grew its holdings in shares of FirstService by 6.8% during the 2nd quarter. The Manufacturers Life Insurance Company now owns 2,733,694 shares of the financial services provider's stock valued at $415,427,000 after purchasing an additional 174,970 shares during the last quarter. Vanguard Group Inc. grew its holdings in shares of FirstService by 4.8% during the 1st quarter. Vanguard Group Inc. now owns 1,654,783 shares of the financial services provider's stock valued at $274,363,000 after purchasing an additional 76,503 shares during the last quarter. Summit Creek Advisors LLC bought a new stake in FirstService during the 1st quarter worth approximately $11,710,000. Finally, Conestoga Capital Advisors LLC grew its holdings in FirstService by 3.2% during the 2nd quarter. Conestoga Capital Advisors LLC now owns 1,426,851 shares of the financial services provider's stock worth $217,409,000 after acquiring an additional 44,236 shares during the last quarter. 69.35% of the stock is currently owned by institutional investors and hedge funds.

About FirstService

FirstService Corporation, together with its subsidiaries, provides residential property management and other essential property services to residential and commercial customers in the United States and Canada. It operates through two segments: FirstService Residential and FirstService Brands. The FirstService Residential segment offers services for private residential communities, such as condominiums, co-operatives, homeowner associations, master-planned communities, active adult and lifestyle communities, and various other residential developments.