Raymond James Issues Positive Forecast for FirstService (NASDAQ:FSV) Stock Price

FirstService (NASDAQ:FSV - Get Free Report) TSE: FSV had its price target raised by Raymond James from $215.00 to $225.00 in a research note issued to investors on Wednesday,Benzinga reports. The firm currently has an "outperform" rating on the financial services provider's stock. Raymond James' target price would indicate a potential upside of 21.20% from the stock's previous close.

Several other research analysts also recently commented on FSV. TD Securities lifted their price target on FirstService from $179.00 to $182.00 and gave the stock a "hold" rating in a research report on Thursday, October 17th. Scotiabank raised 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, October 15th. StockNews.com upgraded shares of FirstService from a "hold" rating to a "buy" rating in a report on Friday, October 25th. Finally, Stifel Nicolaus increased their target price on shares of FirstService from $200.00 to $215.00 and gave the company a "buy" rating in a research note on Monday, October 21st. Two investment analysts have rated the stock with a hold rating and five have issued a buy rating to the stock. Based on data from MarketBeat.com, FirstService presently has an average rating of "Moderate Buy" and a consensus price target of $201.67.

FirstService Stock Performance

FSV stock traded up $3.01 during midday trading on Wednesday, hitting $185.64. 175,456 shares of the company traded hands, compared to its average volume of 119,227. FirstService has a twelve month low of $141.26 and a twelve month high of $197.84. The stock has a market capitalization of $8.40 billion, a price-to-earnings ratio of 77.35 and a beta of 1.06. The company has a quick ratio of 1.79, a current ratio of 1.79 and a debt-to-equity ratio of 1.13. The business has a 50 day simple moving average of $185.65 and a 200-day simple moving average of $180.30.

FirstService (NASDAQ:FSV - Get Free Report) TSE: FSV last announced its earnings results on Thursday, October 24th. The financial services provider reported $1.63 EPS for the quarter, topping the consensus estimate of $1.42 by $0.21. FirstService had a net margin of 2.19% and a return on equity of 16.68%. The firm had revenue of $1.40 billion for the quarter, compared to the consensus estimate of $1.32 billion. During the same quarter last year, the firm posted $1.18 EPS. The business's quarterly revenue was up 25.0% on a year-over-year basis. As a group, equities research analysts predict that FirstService will post 4.64 earnings per share for the current year.

Institutional Investors Weigh In On FirstService

A number of hedge funds and other institutional investors have recently bought and sold shares of FSV. Blue Trust Inc. increased its position in FirstService by 158.2% in the 4th quarter. Blue Trust Inc. now owns 728 shares of the financial services provider's stock valued at $133,000 after acquiring an additional 446 shares in the last quarter. Trust Co. of Vermont bought a new stake in shares of FirstService during the fourth quarter valued at approximately $46,000. Canoe Financial LP increased its holdings in shares of FirstService by 1,451.8% in the fourth quarter. Canoe Financial LP now owns 29,018 shares of the financial services provider's stock valued at $5,253,000 after purchasing an additional 27,148 shares in the last quarter. Avanza Fonder AB bought a new position in FirstService in the 4th quarter worth approximately $453,000. Finally, Argent Capital Management LLC lifted its holdings in FirstService by 16.0% during the 4th quarter. Argent Capital Management LLC now owns 33,406 shares of the financial services provider's stock worth $6,047,000 after buying an additional 4,611 shares in the last quarter. 69.35% of the stock is 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.