Bright Horizons Family Solutions’ (BFAM) Buy Rating Reiterated at Royal Bank Of Canada

Royal Bank Of Canada restated their buy rating on shares of Bright Horizons Family Solutions Inc. (NYSE:BFAM) in a report released on Wednesday.

Several other equities research analysts also recently issued reports on BFAM. BMO Capital Markets reiterated a market perform rating and set a $85.00 price objective (up from $83.00) on shares of Bright Horizons Family Solutions in a research note on Thursday, August 3rd. Zacks Investment Research upgraded shares of Bright Horizons Family Solutions from a hold rating to a buy rating and set a $88.00 price objective for the company in a research note on Friday, August 4th. Citigroup Inc. reiterated a buy rating and set a $92.00 price objective (up from $90.00) on shares of Bright Horizons Family Solutions in a research note on Thursday, August 3rd. Finally, BidaskClub downgraded shares of Bright Horizons Family Solutions from a strong-buy rating to a buy rating in a research note on Tuesday, June 27th. Three investment analysts have rated the stock with a hold rating and seven have issued a buy rating to the company’s stock. The stock presently has an average rating of Buy and a consensus target price of $81.75.

Bright Horizons Family Solutions (BFAM) traded down 0.16% during trading on Wednesday, hitting $79.16. 242,148 shares of the company were exchanged. Bright Horizons Family Solutions has a 12 month low of $59.00 and a 12 month high of $82.00. The company has a market capitalization of $4.68 billion, a price-to-earnings ratio of 42.24 and a beta of 0.12. The company has a 50-day moving average of $78.23 and a 200-day moving average of $74.39.

Bright Horizons Family Solutions (NYSE:BFAM) last released its earnings results on Tuesday, August 1st. The company reported $0.70 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.67 by $0.03. Bright Horizons Family Solutions had a net margin of 6.91% and a return on equity of 19.19%. The firm had revenue of $445.55 million during the quarter, compared to the consensus estimate of $443.90 million. During the same period in the previous year, the firm earned $0.61 earnings per share. Bright Horizons Family Solutions’s revenue was up 10.8% compared to the same quarter last year. Analysts forecast that Bright Horizons Family Solutions will post $2.64 EPS for the current year.

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In other Bright Horizons Family Solutions news, COO Mary Lou Burke sold 5,000 shares of the stock in a transaction on Monday, June 5th. The shares were sold at an average price of $77.76, for a total transaction of $388,800.00. Following the sale, the chief operating officer now directly owns 36,380 shares of the company’s stock, valued at $2,828,908.80. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, CAO Mandy Berman sold 3,697 shares of the stock in a transaction on Monday, May 15th. The stock was sold at an average price of $78.01, for a total transaction of $288,402.97. Following the sale, the chief accounting officer now directly owns 19,824 shares in the company, valued at $1,546,470.24. The disclosure for this sale can be found here. Insiders sold 4,193,394 shares of company stock worth $332,246,231 over the last ninety days. 2.90% of the stock is currently owned by corporate insiders.

Several hedge funds have recently modified their holdings of BFAM. BlackRock Inc. boosted its stake in shares of Bright Horizons Family Solutions by 73,144.9% in the first quarter. BlackRock Inc. now owns 2,743,023 shares of the company’s stock worth $198,843,000 after buying an additional 2,739,278 shares during the period. JPMorgan Chase & Co. boosted its stake in shares of Bright Horizons Family Solutions by 3,798.6% in the second quarter. JPMorgan Chase & Co. now owns 692,158 shares of the company’s stock worth $53,441,000 after buying an additional 674,404 shares during the period. Neuberger Berman Group LLC boosted its stake in shares of Bright Horizons Family Solutions by 108.4% in the second quarter. Neuberger Berman Group LLC now owns 1,153,425 shares of the company’s stock worth $89,056,000 after buying an additional 599,907 shares during the period. Mackenzie Financial Corp purchased a new stake in Bright Horizons Family Solutions during the first quarter worth $32,736,000. Finally, Vanguard Group Inc. boosted its stake in Bright Horizons Family Solutions by 11.8% in the second quarter. Vanguard Group Inc. now owns 3,888,575 shares of the company’s stock worth $300,237,000 after buying an additional 410,335 shares during the period. 98.81% of the stock is currently owned by institutional investors.

About Bright Horizons Family Solutions

Bright Horizons Family Solutions Inc is a provider of child care, early education and other services. The Company provides services under multi-year contracts with employers offering child care and other dependent care solutions as part of their employee benefits packages. Its segments include full service center-based care services, back-up dependent care services and other educational advisory services.

Analyst Recommendations for Bright Horizons Family Solutions (NYSE:BFAM)

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