The Goldman Sachs Group Issues Positive Forecast for H&R Block (NYSE:HRB) Stock Price

H&R Block (NYSE:HRB) had its target price raised by equities research analysts at The Goldman Sachs Group from $49.00 to $54.00 in a research note issued on Thursday,Benzinga reports. The brokerage presently has a “sell” rating on the stock. The Goldman Sachs Group’s price target would suggest a potential downside of 6.27% from the stock’s previous close.

A number of other brokerages also recently issued reports on HRB. Barrington Research reaffirmed an “outperform” rating and set a $70.00 price objective on shares of H&R Block in a research report on Friday, April 25th. Northcoast Research cut shares of H&R Block from a “buy” rating to a “neutral” rating in a research note on Friday, May 2nd. Finally, StockNews.com lowered shares of H&R Block from a “buy” rating to a “hold” rating in a research note on Thursday, February 13th.

H&R Block Trading Down 1.3 %

NYSE HRB opened at $57.61 on Thursday. H&R Block has a 12 month low of $48.23 and a 12 month high of $68.45. The company has a current ratio of 0.73, a quick ratio of 0.73 and a debt-to-equity ratio of 16.46. The stock’s fifty day moving average price is $56.81 and its 200-day moving average price is $56.18. The stock has a market cap of $7.71 billion, a P/E ratio of 15.87, a P/E/G ratio of 0.80 and a beta of 0.28.

H&R Block (NYSE:HRB) last announced its quarterly earnings data on Wednesday, May 7th. The company reported $5.38 EPS for the quarter, beating the consensus estimate of $5.12 by $0.26. The company had revenue of $2.28 billion for the quarter, compared to the consensus estimate of $2.25 billion. H&R Block had a net margin of 14.71% and a negative return on equity of 179.15%. H&R Block’s revenue for the quarter was up 4.2% on a year-over-year basis. During the same period in the prior year, the firm posted $4.94 EPS. As a group, equities analysts forecast that H&R Block will post 5.25 EPS for the current fiscal year.

Insider Buying and Selling at H&R Block

In related news, CEO Jeffrey J. Jones II sold 53,810 shares of the firm’s stock in a transaction that occurred on Wednesday, April 16th. The shares were sold at an average price of $63.28, for a total value of $3,405,096.80. Following the transaction, the chief executive officer now owns 844,790 shares of the company’s stock, valued at approximately $53,458,311.20. This trade represents a 5.99 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which can be accessed through this link. Corporate insiders own 1.30% of the company’s stock.

Institutional Inflows and Outflows

Several institutional investors have recently added to or reduced their stakes in the business. Endeavor Private Wealth Inc. purchased a new stake in shares of H&R Block in the 4th quarter worth $27,000. Spire Wealth Management purchased a new stake in H&R Block in the fourth quarter worth about $28,000. Newbridge Financial Services Group Inc. bought a new position in shares of H&R Block in the fourth quarter worth about $29,000. GAMMA Investing LLC lifted its position in shares of H&R Block by 64.5% during the 4th quarter. GAMMA Investing LLC now owns 658 shares of the company’s stock valued at $35,000 after buying an additional 258 shares in the last quarter. Finally, Bogart Wealth LLC grew its stake in shares of H&R Block by 42.9% during the 1st quarter. Bogart Wealth LLC now owns 666 shares of the company’s stock valued at $37,000 after acquiring an additional 200 shares during the period. 90.14% of the stock is currently owned by institutional investors.

About H&R Block

H&R Block, Inc engages in the provision of tax return preparation solutions, financial products and small business solutions. The company was founded by Henry W. Bloch and Richard A. Bloch on January 25, 1955, and is headquartered in Kansas City, MO.