Huron Consulting Group (NASDAQ:HURN) Rating Increased to Buy at Zacks Investment Research

Huron Consulting Group (NASDAQ:HURN) was upgraded by Zacks Investment Research from a “hold” rating to a “buy” rating in a research report issued on Tuesday, Zacks.com reports. The firm presently has a $51.00 price target on the business services provider’s stock. Zacks Investment Research‘s price objective indicates a potential upside of 11.50% from the company’s previous close.

According to Zacks, “Huron Consulting Group Inc. is the parent company of Huron Consulting Services LLC, an independent provider of financial and operational consulting services. Huron’s experienced and credentialed professionals employ their expertise in accounting, finance, economics and operations to a wide variety of both financially sound and distressed organizations, including Fortune 500 companies, medium-sized businesses, leading academic institutions, healthcare organizations and the law firms that represent these various organizations. “

Separately, Barrington Research reissued an “outperform” rating and set a $67.00 price objective (up previously from $63.00) on shares of Huron Consulting Group in a research report on Tuesday, May 18th.

Shares of Huron Consulting Group stock opened at $45.74 on Tuesday. The company has a debt-to-equity ratio of 0.49, a quick ratio of 1.86 and a current ratio of 1.86. The stock’s 50-day simple moving average is $51.34. Huron Consulting Group has a 1-year low of $37.46 and a 1-year high of $61.99. The firm has a market cap of $1.03 billion, a P/E ratio of 42.75 and a beta of 0.94.

Huron Consulting Group (NASDAQ:HURN) last issued its quarterly earnings results on Tuesday, May 4th. The business services provider reported $0.35 earnings per share for the quarter, missing the Zacks’ consensus estimate of $0.36 by ($0.01). Huron Consulting Group had a return on equity of 8.41% and a net margin of 2.86%. The business had revenue of $203.30 million for the quarter, compared to analyst estimates of $198.29 million. During the same quarter in the previous year, the business posted $0.44 earnings per share. The business’s revenue was down 8.7% on a year-over-year basis. Analysts forecast that Huron Consulting Group will post 2.52 earnings per share for the current fiscal year.

In other news, CEO James H. Roth sold 17,000 shares of the stock in a transaction dated Monday, June 7th. The shares were sold at an average price of $52.91, for a total transaction of $899,470.00. Following the transaction, the chief executive officer now owns 148,722 shares of the company’s stock, valued at approximately $7,868,881.02. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Insiders have sold a total of 17,945 shares of company stock worth $950,540 in the last three months. Insiders own 2.13% of the company’s stock.

Hedge funds and other institutional investors have recently made changes to their positions in the stock. Point72 Hong Kong Ltd bought a new position in Huron Consulting Group in the 1st quarter valued at about $34,000. Lazard Asset Management LLC bought a new position in Huron Consulting Group in the 4th quarter valued at about $73,000. Simplex Trading LLC lifted its position in Huron Consulting Group by 243.5% in the 1st quarter. Simplex Trading LLC now owns 4,119 shares of the business services provider’s stock valued at $207,000 after acquiring an additional 2,920 shares in the last quarter. SG Americas Securities LLC bought a new position in Huron Consulting Group in the 1st quarter valued at about $260,000. Finally, HRT Financial LP bought a new position in Huron Consulting Group in the 1st quarter valued at about $278,000. 90.35% of the stock is currently owned by institutional investors and hedge funds.

About Huron Consulting Group

Huron Consulting Group Inc, a professional services firm, provides consultancy services in the United States and internationally. Its Healthcare segment provides advisory services in the areas of financial and operational improvement, care transformation, and revenue cycle managed services; organizational transformation; and digital, technology and analytic solutions to national and regional hospitals, integrated health systems, academic medical centers, community hospitals, and medical groups.

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