Barrington Research Reiterates $36.00 Price Target for Blucora (NASDAQ:BCOR)

Blucora (NASDAQ:BCOR) has been given a $36.00 target price by equities research analysts at Barrington Research in a note issued to investors on Friday, TipRanks reports. The brokerage presently has a “buy” rating on the information services provider’s stock. Barrington Research’s price objective points to a potential upside of 73.08% from the stock’s previous close.

A number of other research firms also recently weighed in on BCOR. ValuEngine raised Blucora from a “sell” rating to a “hold” rating in a report on Wednesday, October 2nd. Zacks Investment Research raised Blucora from a “sell” rating to a “strong-buy” rating and set a $24.00 price objective on the stock in a report on Tuesday, October 8th. Finally, BidaskClub raised Blucora from a “sell” rating to a “hold” rating in a report on Friday, September 27th.

BCOR traded down $0.39 on Friday, hitting $20.80. 7,865 shares of the stock traded hands, compared to its average volume of 664,723. The company has a current ratio of 2.05, a quick ratio of 2.05 and a debt-to-equity ratio of 0.55. The business has a fifty day moving average price of $21.95 and a two-hundred day moving average price of $28.78. The firm has a market capitalization of $1.02 billion, a PE ratio of 13.65, a P/E/G ratio of 0.62 and a beta of 0.71. Blucora has a 52 week low of $20.00 and a 52 week high of $37.17.

Blucora (NASDAQ:BCOR) last released its quarterly earnings data on Wednesday, August 7th. The information services provider reported $0.83 earnings per share for the quarter, beating analysts’ consensus estimates of $0.71 by $0.12. The company had revenue of $193.70 million for the quarter, compared to the consensus estimate of $191.26 million. Blucora had a return on equity of 14.94% and a net margin of 10.27%. The company’s quarterly revenue was up 22.8% on a year-over-year basis. During the same period in the previous year, the business earned $0.97 earnings per share. On average, equities research analysts forecast that Blucora will post 1.66 EPS for the current fiscal year.

In other news, CEO John S. Clendening sold 10,000 shares of the business’s stock in a transaction that occurred on Wednesday, July 17th. The stock was sold at an average price of $29.23, for a total value of $292,300.00. Following the transaction, the chief executive officer now directly owns 721,217 shares of the company’s stock, valued at approximately $21,081,172.91. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, CEO John S. Clendening sold 54,250 shares of the business’s stock in a transaction that occurred on Monday, October 7th. The stock was sold at an average price of $21.20, for a total value of $1,150,100.00. Following the completion of the transaction, the chief executive officer now directly owns 704,467 shares in the company, valued at $14,934,700.40. The disclosure for this sale can be found here. 3.40% of the stock is currently owned by insiders.

Several institutional investors and hedge funds have recently made changes to their positions in BCOR. Morgan Stanley boosted its holdings in shares of Blucora by 274.6% in the 2nd quarter. Morgan Stanley now owns 381,696 shares of the information services provider’s stock worth $11,592,000 after acquiring an additional 279,805 shares in the last quarter. Nuveen Asset Management LLC acquired a new position in shares of Blucora in the 2nd quarter worth approximately $7,207,000. FMR LLC boosted its holdings in shares of Blucora by 47.3% in the 1st quarter. FMR LLC now owns 670,352 shares of the information services provider’s stock worth $22,376,000 after acquiring an additional 215,375 shares in the last quarter. BlackRock Inc. boosted its holdings in shares of Blucora by 2.8% in the 2nd quarter. BlackRock Inc. now owns 7,103,096 shares of the information services provider’s stock worth $215,722,000 after acquiring an additional 192,034 shares in the last quarter. Finally, Invesco Ltd. boosted its holdings in shares of Blucora by 73.0% in the 2nd quarter. Invesco Ltd. now owns 450,579 shares of the information services provider’s stock worth $13,684,000 after acquiring an additional 190,191 shares in the last quarter. 94.88% of the stock is currently owned by institutional investors and hedge funds.

Blucora Company Profile

Blucora, Inc provides technology-enabled financial solutions to consumers, small business owners, and tax professionals in the United States. The company operates through two segments, Wealth Management and Tax Preparation. The Wealth Management segment offers an integrated platform of brokerage, investment advisory, and insurance services to financial advisors.

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