Barclays Forecasts Strong Price Appreciation for AllianceBernstein (NYSE:AB) Stock

AllianceBernstein (NYSE:AB) had its price target hoisted by analysts at Barclays from $34.00 to $36.00 in a research note issued on Wednesday,Benzinga reports. The firm currently has an “equal weight” rating on the asset manager’s stock. Barclays‘s target price would suggest a potential downside of 2.62% from the stock’s current price.

Other equities analysts have also recently issued research reports about the stock. Bank of America cut shares of AllianceBernstein from a “buy” rating to a “neutral” rating and lowered their price objective for the stock from $42.00 to $38.00 in a research report on Thursday, April 3rd. Evercore ISI dropped their target price on AllianceBernstein from $41.00 to $38.00 and set an “outperform” rating for the company in a research report on Friday, April 11th. TD Cowen reduced their price target on shares of AllianceBernstein from $37.50 to $34.00 and set a “hold” rating on the stock in a research report on Wednesday, April 9th. Finally, Sanford C. Bernstein lowered shares of AllianceBernstein from a “buy” rating to a “neutral” rating and set a $38.00 price objective for the company. in a research note on Thursday, April 3rd. Four analysts have rated the stock with a hold rating and two have given a buy rating to the company’s stock. Based on data from MarketBeat, the stock currently has a consensus rating of “Hold” and a consensus price target of $37.50.

AllianceBernstein Stock Performance

AB stock opened at $36.97 on Wednesday. The firm has a market cap of $4.09 billion, a PE ratio of 9.94, a PEG ratio of 0.78 and a beta of 0.97. AllianceBernstein has a one year low of $30.57 and a one year high of $41.37. The firm’s 50 day moving average price is $37.02 and its 200-day moving average price is $36.95.

AllianceBernstein (NYSE:AB) last released its quarterly earnings results on Thursday, February 6th. The asset manager reported $1.05 earnings per share for the quarter, topping analysts’ consensus estimates of $0.87 by $0.18. AllianceBernstein had a return on equity of 17.88% and a net margin of 9.46%. Equities research analysts predict that AllianceBernstein will post 3.58 EPS for the current fiscal year.

Institutional Inflows and Outflows

A number of hedge funds have recently made changes to their positions in AB. Transce3nd LLC acquired a new stake in AllianceBernstein during the fourth quarter worth approximately $25,000. Luken Investment Analytics LLC purchased a new stake in AllianceBernstein in the fourth quarter valued at $37,000. Summit Securities Group LLC acquired a new position in AllianceBernstein in the fourth quarter valued at $41,000. Harbor Investment Advisory LLC acquired a new position in AllianceBernstein in the first quarter valued at $48,000. Finally, HHM Wealth Advisors LLC purchased a new position in shares of AllianceBernstein during the fourth quarter worth about $61,000. Hedge funds and other institutional investors own 19.25% of the company’s stock.

AllianceBernstein Company Profile

AllianceBernstein Holding L.P. is a publicly owned investment manager. The firm is a related adviser The firm manages separate client focused portfolios for its clients. The firm primarily invests in common and preferred stocks, warrants and convertible securities, government and corporate fxed-income securities, commodities, currencies, real estate-related assets and infation-protected securities.