Wasatch Advisors LP Takes $6.86 Million Position in Franklin Covey Co. (NYSE:FC)

Wasatch Advisors LP bought a new stake in Franklin Covey Co. (NYSE:FC) in the first quarter, according to its most recent filing with the Securities & Exchange Commission. The institutional investor bought 174,794 shares of the business services provider’s stock, valued at approximately $6,862,000. Wasatch Advisors LP owned about 1.32% of Franklin Covey as of its most recent SEC filing.

A number of other hedge funds have also modified their holdings of FC. Bares Capital Management Inc. increased its position in Franklin Covey by 11.0% during the fourth quarter. Bares Capital Management Inc. now owns 458,091 shares of the business services provider’s stock worth $19,941,000 after purchasing an additional 45,290 shares during the last quarter. Worth Venture Partners LLC increased its position in Franklin Covey by 8.7% during the third quarter. Worth Venture Partners LLC now owns 48,178 shares of the business services provider’s stock worth $2,068,000 after purchasing an additional 3,855 shares during the last quarter. Trexquant Investment LP increased its position in Franklin Covey by 49.6% during the fourth quarter. Trexquant Investment LP now owns 28,375 shares of the business services provider’s stock worth $1,235,000 after purchasing an additional 9,411 shares during the last quarter. Hsbc Holdings PLC increased its position in Franklin Covey by 92.9% during the fourth quarter. Hsbc Holdings PLC now owns 27,444 shares of the business services provider’s stock worth $1,180,000 after purchasing an additional 13,220 shares during the last quarter. Finally, EP Wealth Advisors LLC increased its position in Franklin Covey by 153.6% during the fourth quarter. EP Wealth Advisors LLC now owns 16,071 shares of the business services provider’s stock worth $700,000 after purchasing an additional 9,734 shares during the last quarter. 69.88% of the stock is currently owned by institutional investors and hedge funds.

Analysts Set New Price Targets

Several brokerages have weighed in on FC. Northland Securities lowered their target price on shares of Franklin Covey from $100.00 to $95.00 and set an “outperform” rating for the company in a research note on Thursday, March 28th. Barrington Research reaffirmed an “outperform” rating and set a $45.00 target price on shares of Franklin Covey in a research note on Thursday, June 27th. StockNews.com raised shares of Franklin Covey from a “buy” rating to a “strong-buy” rating in a research note on Saturday. Finally, Roth Mkm restated a “buy” rating and issued a $50.00 price objective on shares of Franklin Covey in a report on Thursday, June 27th.

Franklin Covey Stock Up 3.7 %

Shares of NYSE:FC traded up $1.36 during trading on Tuesday, hitting $38.24. 94,909 shares of the company were exchanged, compared to its average volume of 85,549. The stock has a market capitalization of $507.44 million, a P/E ratio of 28.54, a PEG ratio of 1.14 and a beta of 1.24. The company has a debt-to-equity ratio of 0.06, a current ratio of 0.88 and a quick ratio of 0.85. Franklin Covey Co. has a 12-month low of $32.19 and a 12-month high of $48.76. The firm’s 50 day moving average price is $37.11 and its 200-day moving average price is $38.94.

Franklin Covey (NYSE:FC) last released its quarterly earnings results on Wednesday, June 26th. The business services provider reported $0.43 EPS for the quarter, beating the consensus estimate of $0.39 by $0.04. Franklin Covey had a net margin of 6.50% and a return on equity of 24.90%. The firm had revenue of $73.37 million during the quarter, compared to the consensus estimate of $72.12 million. During the same quarter in the prior year, the firm earned $0.32 EPS. On average, research analysts predict that Franklin Covey Co. will post 1.66 earnings per share for the current fiscal year.

About Franklin Covey

Franklin Covey Co provides training and consulting services in the areas of execution, sales performance, productivity, customer loyalty, and educational improvement for organizations and individuals worldwide. The company operates through Direct Offices, International Licensees, and Education Practice segments.