Allstate Corp. Upgraded to Outperform at Wells Fargo & Co. (ALL)
Allstate Corp. (NYSE:ALL) was upgraded by stock analysts at Wells Fargo & Co. from a “market perform” rating to an “outperform” rating in a report issued on Thursday, TheFlyOnTheWall.com reports.
Other equities research analysts have also recently issued reports about the stock. Analysts at Deutsche Bank downgraded shares of Allstate Corp. (NYSE:ALL) from a “buy” rating to a “hold” rating in a research note to investors on Monday, August 5th. They now have a $57.00 price target on the stock, down previously from $58.00. Separately, analysts at Raymond James raised their price target on shares of Allstate Corp. (NYSE:ALL) from $57.00 to $60.00 in a research note to investors on Friday, August 2nd. They now have a “strong” rating on the stock. Finally, analysts at Zacks reiterated a “neutral” rating on shares of Allstate Corp. (NYSE:ALL) in a research note to investors on Thursday, August 1st. They now have a $54.00 price target on the stock.
Nine research analysts have rated the stock with a hold rating, ten have assigned a buy rating and one has assigned a strong buy rating to the stock. Allstate Corp. has a consensus rating of “Buy” and an average target price of $88.65.
Allstate Corp. (NYSE:ALL) opened at 50.11 on Thursday. Allstate Corp. has a one year low of $37.92 and a one year high of $52.61. The stock’s 50-day moving average is $49.84 and its 200-day moving average is $48.95. The company has a market cap of $23.223 billion and a price-to-earnings ratio of 10.71.
Allstate Corp. (NYSE:ALL) last posted its quarterly earnings results on Wednesday, July 31st. The company reported $1.12 EPS for the quarter, beating the Thomson Reuters consensus estimate of $0.99 by $0.13. The company had revenue of $8.79 billion for the quarter, compared to the consensus estimate of $7.01 billion. During the same quarter in the previous year, the company posted $0.86 earnings per share. The company’s revenue for the quarter was up 2.9% on a year-over-year basis. On average, analysts predict that Allstate Corp. will post $4.81 earnings per share for the current fiscal year.
In other Allstate Corp. news, Insider Matthew Winter unloaded 19,697 shares of Allstate Corp. stock on the open market in a transaction dated Tuesday, September 3rd. The shares were sold at an average price of $48.63, for a total value of $957,865.11. Following the sale, the insider now directly owns 24,634 shares of the company’s stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link.
The Allstate Corporation (NYSE:ALL) is a holding company for Allstate Insurance Company.
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