Scotiabank Issues Pessimistic Forecast for FirstService (NASDAQ:FSV) Stock Price

FirstService (NASDAQ:FSV) (TSE:FSV) had its price objective cut by research analysts at Scotiabank from $217.50 to $210.00 in a research note issued on Thursday, MarketBeat.com reports. The firm currently has a “sector perform” rating on the financial services provider’s stock. Scotiabank’s price target indicates a potential upside of 22.07% from the stock’s previous close.

FSV has been the topic of several other reports. StockNews.com downgraded shares of FirstService from a “buy” rating to a “hold” rating in a research report on Thursday, March 27th. Raymond James boosted their price target on FirstService from $215.00 to $225.00 and gave the company an “outperform” rating in a research report on Thursday, January 30th. Three equities research analysts have rated the stock with a hold rating and four have given a buy rating to the company. According to MarketBeat, the stock has an average rating of “Moderate Buy” and a consensus price target of $203.33.

FirstService Price Performance

Shares of NASDAQ FSV opened at $172.03 on Thursday. The stock has a market cap of $7.82 billion, a P/E ratio of 57.92 and a beta of 1.04. FirstService has a twelve month low of $141.26 and a twelve month high of $197.84. The stock has a 50 day moving average of $170.08 and a two-hundred day moving average of $179.74. The company has a current ratio of 1.75, a quick ratio of 1.79 and a debt-to-equity ratio of 1.09.

Institutional Investors Weigh In On FirstService

Institutional investors have recently added to or reduced their stakes in the business. Versant Capital Management Inc purchased a new position in shares of FirstService during the 4th quarter worth approximately $29,000. Trust Co. of Vermont purchased a new stake in FirstService during the fourth quarter worth about $46,000. Wilmington Savings Fund Society FSB purchased a new position in FirstService in the third quarter valued at about $53,000. Natixis lifted its position in shares of FirstService by 5,511.1% during the 4th quarter. Natixis now owns 505 shares of the financial services provider’s stock valued at $91,000 after acquiring an additional 496 shares during the period. Finally, State of Wyoming purchased a new stake in shares of FirstService during the 4th quarter worth approximately $101,000. Hedge funds and other institutional investors own 69.35% of the company’s stock.

FirstService Company Profile

FirstService Corporation, together with its subsidiaries, provides residential property management and other essential property services to residential and commercial customers in the United States and Canada. It operates through two segments: FirstService Residential and FirstService Brands. The FirstService Residential segment offers services for private residential communities, such as condominiums, co-operatives, homeowner associations, master-planned communities, active adult and lifestyle communities, and various other residential developments.