Fiera Capital's Stock Price Target Raised by National Bankshares

Fiera Capital (TSE:FSZ) received an increase in its price target from investment analysts at National Bankshares. The new target price has been revised from C$8.00 to C$8.50, as stated in a research note released to investors on Wednesday. Despite the increase in the price target, the brokerage maintains an 'underperform' rating on the stock, indicating that they do not see significant growth potential in the near future.

The new price target suggests that there may be a potential downside of approximately 13.35% from the current trading price.

Recent Analyst Activity

Other analysts have also weighed in on Fiera Capital's stock recently. BMO Capital Markets raised their price objective from C$8.50 to C$9.00 in a note published on Tuesday. Similarly, Scotiabank also increased their target to C$9.00 as of July 24. On the flip side, TD Securities reduced their price target from C$8.00 to C$7.50 earlier in August. National Bank Financial decreased their rating from 'hold' to 'strong sell' on July 28. Conversely, Desjardins lifted their target price from C$7.75 to C$9.00, assigning a 'hold' rating on October 24. Currently, the consensus rating for Fiera Capital among analysts stands as 'Hold' with an average target price of C$8.29.

Fiera Capital Stock Performance

On Wednesday, Fiera Capital's shares saw a modest increase of 0.5%, climbing by C$0.05 to reach a price of C$9.81. The trading volume for the day was 218,504 shares, which is lower than the average volume of 280,120 shares. Over recent months, the stock has shown a 50-day simple moving average of C$8.17 and a 200-day simple moving average of C$7.73. In terms of yearly performance, Fiera Capital has recorded a low of C$4.63 and a high of C$9.90, with a market capitalization of C$860.83 million. Meanwhile, its price-to-earnings ratio is noted at 18.28.

Recent Earnings Reports

Fiera Capital disclosed its latest quarterly earnings on August 7, reporting earnings per share of C$0.23, which surpassed analysts' expectations of C$0.19 by C$0.04. The revenue for the quarter amounted to C$164.79 million, exceeding the anticipated C$160.80 million identified by analysts. The company's return on equity was recorded at 22.95%, alongside a net margin of 8.97%. Analysts forecast that Fiera Capital is on track to achieve approximately 1.09 earnings per share for the current fiscal year.

Insider Trading Activity

In other recent news regarding Fiera Capital, Senior Officer John Valentini sold 28,000 shares on October 4 at an average price of C$8.57, bringing in a total of C$240,046.80 from the transaction. In addition, another insider from Fiera Capital S.E.C. sold 10,000 shares on September 10 at an average price of C$7.30, totaling C$73,049.00. Over the last ninety days, insiders have sold a total of 207,400 shares worth C$1,601,622, giving a sense of insider sentiment regarding the stock. Notably, insiders hold around 0.86% of the company's stock.

About Fiera Capital

Fiera Capital Corporation operates as an employee-owned investment manager. The firm caters primarily to institutional investors, mutual funds, charitable organizations, and personal clients, managing focused portfolios in equity, fixed income, and balanced strategies while also launching mutual funds and income trusts for its clients.

Fiera, National, Analysts