Analysts Offer Insights on Services Companies: AMC Entertainment (NYSE: AMC) and Zovio Inc (NASDAQ: ZVO)

By Carrie Williams

There’s a lot to be optimistic about in the Services sector as 2 analysts just weighed in on AMC Entertainment (AMCResearch Report) and Zovio Inc (ZVOResearch Report) with bullish sentiments.

AMC Entertainment (AMC)

In a report released today, Eric Wold from B.Riley FBR reiterated a Buy rating on AMC Entertainment, with a price target of $19. The company’s shares closed yesterday at $11.35.

Wold noted:

“Before the open on Thursday (8/8), AMC Entertainment Holdings (AMC) reported 2Q19 results that exceeded our and consensus estimates for revenues and adjusted EBITDA—as domestic circuit outperformance continues to highlight the benefits of the theater remodel program and Stubs A-List subscription program ramp on AMC’s market share and movie-going loyalty. And when adjusted for ASC 842, the company’s adjusted EBITDA improved 7% Y/Y—which, we believe, helps to highlight the confusing nature of ASC 842 on reported figures.”

According to TipRanks.com, Wold has currently no stars on a ranking scale of 0-5 stars, with an average return of -8.1% and a 31.2% success rate. Wold covers the Services sector, focusing on stocks such as Reading International Inc, Cinemark Holdings Inc, and National Cinemedia.

The word on The Street in general, suggests a Strong Buy analyst consensus rating for AMC Entertainment with a $15.93 average price target, a 40.4% upside from current levels. In a report issued on July 31, Wedbush also upgraded the stock to Buy with a $15 price target.

See today’s analyst top recommended stocks >>

Zovio Inc (ZVO)

In a report released today, Alexander Paris from Barrington reiterated a Buy rating on Zovio Inc, with a price target of $10.

Paris observed:

“We are reiterating our OUTPERFORM investment rating and our $10 price target.”

According to TipRanks.com, Paris is a 3-star analyst with an average return of 1.4% and a 43.8% success rate. Paris covers the Services sector, focusing on stocks such as Adtalem Global Education Inc, American Public Education, and Strategic Education Inc.

Zovio Inc has an analyst consensus of Moderate Buy, with a price target consensus of $10.

TipRanks has tracked 36,000 company insiders and found that a few of them are better than others when it comes to timing their transactions. See which 3 stocks are most likely to make moves following their insider activities.