Zacks Investment Research upgraded shares of The Providence Service (NASDAQ:PRSC) from a hold rating to a strong-buy rating in a report published on Wednesday morning, Zacks.com reports. Zacks Investment Research currently has $94.00 price target on the stock.
According to Zacks, “Providence Service Corporation provides human services and non-emergency transportation (NET) management services to children, adolescents, young adults, and families. The Company focuses on providing its social services in the client’s home or in community-based settings. It provides its NET management services through local transportation providers. The company’s services are reimbursed by government programs such as welfare, juvenile justice, Medicaid or corrections. Providence Service Corporation is based in Tucson, Arizona. “
Several other brokerages have also recently weighed in on PRSC. TheStreet raised shares of The Providence Service from a c rating to a b rating in a research note on Thursday, May 14th. Barrington Research began coverage on shares of The Providence Service in a research note on Tuesday, June 9th. They issued a buy rating and a $87.00 target price for the company. Finally, Lake Street Capital began coverage on shares of The Providence Service in a research note on Thursday, July 16th. They issued a buy rating for the company. Two research analysts have rated the stock with a buy rating and two have given a strong buy rating to the company’s stock. The stock currently has a consensus rating of Strong Buy and a consensus price target of $90.50.
Shares of PRSC opened at $81.01 on Wednesday. The stock has a market capitalization of $1.05 billion, a P/E ratio of 115.73 and a beta of 0.83. The Providence Service has a twelve month low of $40.40 and a twelve month high of $83.99. The company has a 50 day moving average of $78.54 and a 200-day moving average of $67.23. The company has a quick ratio of 1.41, a current ratio of 1.41 and a debt-to-equity ratio of 0.04.
The Providence Service (NASDAQ:PRSC) last issued its quarterly earnings results on Thursday, May 7th. The company reported $0.58 earnings per share for the quarter, topping the consensus estimate of $0.28 by $0.30. The company had revenue of $367.29 million during the quarter. The Providence Service had a net margin of 0.96% and a return on equity of 8.53%. On average, sell-side analysts anticipate that The Providence Service will post 2.52 earnings per share for the current fiscal year.
Several large investors have recently added to or reduced their stakes in PRSC. Matarin Capital Management LLC bought a new position in shares of The Providence Service in the first quarter valued at $6,545,000. Cloverdale Capital Management LLC acquired a new stake in The Providence Service during the 1st quarter valued at $5,571,000. Wellington Management Group LLP lifted its holdings in The Providence Service by 26.7% during the 1st quarter. Wellington Management Group LLP now owns 350,618 shares of the company’s stock valued at $19,242,000 after purchasing an additional 73,971 shares during the last quarter. The Manufacturers Life Insurance Company lifted its holdings in The Providence Service by 75.5% during the 1st quarter. The Manufacturers Life Insurance Company now owns 164,365 shares of the company’s stock valued at $9,020,000 after purchasing an additional 70,714 shares during the last quarter. Finally, JPMorgan Chase & Co. lifted its holdings in The Providence Service by 117.2% during the 1st quarter. JPMorgan Chase & Co. now owns 84,189 shares of the company’s stock valued at $4,620,000 after purchasing an additional 45,429 shares during the last quarter.
The Providence Service Company Profile
The Providence Service Corporation provides healthcare services in the United States. It operates through Non-Emergency Transportation Services (NET Services) and Matrix Investment segments. The NET Services segment offers non-emergency medical transportation services for Medicaid or Medicare eligible members, whose limited mobility or financial resources hinder their ability to access necessary healthcare and social services.
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