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Morgan Stanley Downgrades H&R Block to “Underweight” (HRB)

By
January 14th, 2013

Morgan Stanley Downgrades H&R Block to "Underweight" (HRB)

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On Monday analysts at Morgan Stanley downgraded H&R Block, Inc. (HRB) as a recent stock price run up and IRS issues creates an unattractive outlook for the tax prep specialist.

The analysts downgraded HRB from “Equal-Weight” to “Underweight.” The firm sees shares reaching $17, a -15% downside to Friday’s closing price of $19.98.

H&R Block shares were down 41 cents, or -2.05%, during premarket trading on Monday. The stock is up +21.83% over the past year.

The Bottom Line
Shares of H&R Block (HRB) have a 4.00% dividend yield, based on Friday’s closing stock price of 19.98. The stock has technical support in the $17-$18 price area. If the shares can firm up, we see overhead resistance around the $21-$22 price levels.

H&R Block, Inc. (HRB) is not recommended at this time, holding a Dividend.com DARS™ Rating of 3.1 out of 5 stars.

Be sure to visit our complete recommended list of the Best Dividend Stocks, as well as a detailed explanation of our ratings system here.

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Disclaimer: Under no circumstances does the information in this column represent a recommendation to buy or sell stocks. The author is not registered as an investment adviser. The author may or may not hold positions in the securities mentioned in this article or video. The author relies upon the "publisher's exclusion" from the definition of "investment adviser" as provided under Section 202(a)(11) of the Investment Advisers Act of 1940 and corresponding state securities laws.