• Return to Headlines

Downgrade Alert for H&R Block (HRB)

By David Diaz

H&R Block (NYSE:HRB) was downgraded from Outperform to Perform at Oppenheimer today. The stock closed yesterday at $20.59 on volume of 16.1 million shares, above average daily volume of 3.7 million.

There is potential upside of 105.6% for shares of H&R Block based on a current price of $20.59 and an average consensus analyst price target of $42.33. The stock should run into initial resistance at its 50-day moving average (MA) of $27.65 and subsequent resistance at its 200-day MA of $32.88.

Over the past year, H&R Block has traded in a range of $23.43 to $37.53 and closed yesterday at $20.59, -12% above that low. Over the last five market days, the 200-day moving average (MA) has gone down 0.4% while the 50-day MA has declined 2.3%.

H&R Block, Inc. provides a wide range of financial products and services through its subsidiaries. The Company provides tax services to the general public, accounting and consulting services, and consumer financial and personal productivity software. H&R Block provides its tax services to clients in the United States and other countries.

SmarTrend recommended that its subscribers protect gains by selling shares of H&R Block on March 4th, 2016 by issuing a Downtrend alert when the shares were trading at $28.37. Since that call, shares of H&R Block have fallen 16.0%. We are now looking for when a new Uptrend will commence and will alert SmarTrend subscribers in real time.

Keywords: analyst upgrades/downgrades h&r block

Ticker(s): HRB