Franklin Covey Co. (NYSE:FC) Sees Significant Decline in Short Interest

Franklin Covey Co. (NYSE:FC) saw a significant decline in short interest in October. As of October 31st, there was short interest totalling 326,500 shares, a decline of 7.3% from the October 15th total of 352,400 shares. Currently, 3.0% of the shares of the stock are sold short. Based on an average daily volume of 50,500 shares, the days-to-cover ratio is currently 6.5 days.

Franklin Covey Price Performance

Shares of Franklin Covey stock opened at $35.86 on Monday. The business’s 50-day moving average price is $40.06 and its 200-day moving average price is $39.07. The firm has a market capitalization of $472.63 million, a PE ratio of 20.61, a price-to-earnings-growth ratio of 1.32 and a beta of 1.24. Franklin Covey has a 12 month low of $33.75 and a 12 month high of $44.96. The company has a current ratio of 0.99, a quick ratio of 0.85 and a debt-to-equity ratio of 0.03.

Franklin Covey (NYSE:FC) last issued its quarterly earnings results on Wednesday, November 6th. The business services provider reported $0.89 EPS for the quarter, beating analysts’ consensus estimates of $0.82 by $0.07. The business had revenue of $84.12 million for the quarter, compared to analysts’ expectations of $80.38 million. Franklin Covey had a net margin of 8.15% and a return on equity of 31.28%. Sell-side analysts forecast that Franklin Covey will post 1.36 EPS for the current fiscal year.

Hedge Funds Weigh In On Franklin Covey

A number of large investors have recently added to or reduced their stakes in FC. Vanguard Group Inc. boosted its position in Franklin Covey by 3.5% during the first quarter. Vanguard Group Inc. now owns 703,603 shares of the business services provider’s stock valued at $27,623,000 after buying an additional 24,062 shares during the period. Rice Hall James & Associates LLC lifted its stake in shares of Franklin Covey by 9.0% in the 3rd quarter. Rice Hall James & Associates LLC now owns 549,145 shares of the business services provider’s stock valued at $22,586,000 after acquiring an additional 45,312 shares during the last quarter. Bares Capital Management Inc. boosted its holdings in Franklin Covey by 0.8% during the 1st quarter. Bares Capital Management Inc. now owns 461,661 shares of the business services provider’s stock valued at $18,125,000 after acquiring an additional 3,570 shares during the period. B. Riley Wealth Advisors Inc. bought a new position in Franklin Covey during the 2nd quarter worth approximately $17,022,000. Finally, Geode Capital Management LLC increased its stake in Franklin Covey by 3.1% in the 3rd quarter. Geode Capital Management LLC now owns 295,182 shares of the business services provider’s stock worth $12,143,000 after purchasing an additional 8,888 shares during the period. Hedge funds and other institutional investors own 69.88% of the company’s stock.

Wall Street Analysts Forecast Growth

FC has been the topic of a number of recent analyst reports. StockNews.com downgraded shares of Franklin Covey from a “strong-buy” rating to a “buy” rating in a research note on Thursday, November 7th. Barrington Research reaffirmed an “outperform” rating and set a $45.00 price objective on shares of Franklin Covey in a report on Thursday, November 7th.

Franklin Covey Company Profile

Franklin Covey Co provides training and consulting services in the areas of execution, sales performance, productivity, customer loyalty, and educational improvement for organizations and individuals worldwide. The company operates through Direct Offices, International Licensees, and Education Practice segments.