The Providence Service Corporation (PRSC) Cut to Sell at Zacks Investment Research

The Providence Service Corporation (NASDAQ:PRSC) was downgraded by Zacks Investment Research from a “hold” rating to a “sell” rating in a research note issued to investors on Tuesday.

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 analysts also recently weighed in on PRSC. BidaskClub downgraded The Providence Service Corporation from a “hold” rating to a “sell” rating in a research report on Wednesday, August 2nd. ValuEngine upgraded The Providence Service Corporation from a “sell” rating to a “hold” rating in a research report on Thursday, August 10th. Barrington Research upped their price objective on The Providence Service Corporation from $55.00 to $60.00 and gave the stock an “outperform” rating in a research report on Thursday, August 10th. Finally, TheStreet upgraded The Providence Service Corporation from a “c+” rating to a “b” rating in a research report on Tuesday, November 7th. Two analysts have rated the stock with a sell rating, two have given a hold rating and one has assigned a buy rating to the stock. The stock has an average rating of “Hold” and a consensus target price of $67.00.

Shares of The Providence Service Corporation (NASDAQ PRSC) opened at $55.56 on Tuesday. The Providence Service Corporation has a 1 year low of $34.88 and a 1 year high of $58.01. The firm has a market capitalization of $739.92, a price-to-earnings ratio of 42.13, a P/E/G ratio of 3.26 and a beta of 0.81.

The Providence Service Corporation (NASDAQ:PRSC) last announced its quarterly earnings data on Tuesday, November 7th. The company reported $0.32 earnings per share for the quarter, topping the consensus estimate of $0.31 by $0.01. The Providence Service Corporation had a return on equity of 6.29% and a net margin of 4.91%. The business had revenue of $409.50 million during the quarter, compared to the consensus estimate of $407.00 million. During the same period in the prior year, the company earned $0.35 EPS. The Providence Service Corporation’s revenue for the quarter was down .7% on a year-over-year basis. equities analysts forecast that The Providence Service Corporation will post 1.42 EPS for the current year.

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A number of institutional investors have recently bought and sold shares of PRSC. Parametric Portfolio Associates LLC raised its position in The Providence Service Corporation by 96.0% in the first quarter. Parametric Portfolio Associates LLC now owns 19,434 shares of the company’s stock valued at $864,000 after purchasing an additional 9,518 shares during the last quarter. JPMorgan Chase & Co. raised its position in The Providence Service Corporation by 707.0% in the first quarter. JPMorgan Chase & Co. now owns 24,831 shares of the company’s stock valued at $1,103,000 after purchasing an additional 21,754 shares during the last quarter. Principal Financial Group Inc. raised its position in The Providence Service Corporation by 3.6% in the first quarter. Principal Financial Group Inc. now owns 92,591 shares of the company’s stock valued at $4,115,000 after purchasing an additional 3,255 shares during the last quarter. Teachers Advisors LLC raised its position in The Providence Service Corporation by 15.2% in the first quarter. Teachers Advisors LLC now owns 55,300 shares of the company’s stock valued at $2,458,000 after purchasing an additional 7,312 shares during the last quarter. Finally, TIAA CREF Investment Management LLC raised its position in The Providence Service Corporation by 9.6% in the first quarter. TIAA CREF Investment Management LLC now owns 81,879 shares of the company’s stock valued at $3,639,000 after purchasing an additional 7,154 shares during the last quarter. Hedge funds and other institutional investors own 92.88% of the company’s stock.

The Providence Service Corporation Company Profile

The Providence Service Corporation (Providence) is a holding company. The Company, through its subsidiaries, is engaged in the provision of healthcare and workforce development services for public and private sector entities. The Company’s segments include Non-Emergency Transportation Services (NET Services), Workforce Development Services (WD Services) and Matrix Investment.

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