AFLAC Stock Rating Upgraded by FBR Capital Markets (AFL)
AFLAC (NYSE:AFL) was upgraded by investment analysts at FBR Capital Markets from a “market perform” rating to an “outperform” rating in a note issued to investors on Tuesday, TheFlyOnTheWall.com reports. The firm currently has a $71.00 price target on the stock, up from their previous price target of $60.00. FBR Capital Markets’ price target would suggest a potential upside of 14.53% from the stock’s previous close.
In other AFLAC news, CFO Kriss Cloninger III unloaded 33,400 shares of AFLAC stock on the open market in a transaction dated Wednesday, September 25th. The stock was sold at an average price of $62.40, for a total transaction of $2,084,160.00. Following the completion of the transaction, the chief financial officer now directly owns 250,495 shares in the company, valued at approximately $15,630,888. The sale was disclosed in a filing with the SEC, which can be accessed through this link.
AFLAC (NYSE:AFL) traded up 1.64% during mid-day trading on Tuesday, hitting $63.008. 705,621 shares of the company’s stock traded hands. AFLAC has a 52-week low of $47.25 and a 52-week high of $63.63. The stock has a 50-day moving average of $60.44 and a 200-day moving average of $56.79. The company has a market cap of $29.305 billion and a P/E ratio of 8.61.
AFLAC (NYSE:AFL) last posted its quarterly earnings results on Tuesday, July 30th. The company reported $1.62 earnings per share (EPS) for the quarter, beating the consensus estimate of $1.51 by $0.11. The company had revenue of $6.04 billion for the quarter, compared to the consensus estimate of $5.86 billion. During the same quarter in the previous year, the company posted $1.61 earnings per share. The company’s revenue for the quarter was up 2.4% on a year-over-year basis. Analysts expect that AFLAC will post $6.20 EPS for the current fiscal year.
Several other analysts have also recently commented on the stock. Analysts at UBS AG raised their price target on shares of AFLAC (NYSE:AFL) from $56.00 to $62.00 in a research note to investors on Wednesday, September 25th. They now have a “neutral” rating on the stock. Separately, analysts at Zacks reiterated a “neutral” rating on shares of AFLAC (NYSE:AFL) in a research note to investors on Friday, September 13th. They now have a $64.00 price target on the stock. Finally, analysts at Deutsche Bank raised their price target on shares of AFLAC (NYSE:AFL) from $61.00 to $64.00 in a research note to investors on Friday, August 2nd. Six research analysts have rated the stock with a hold rating and nine have assigned a buy rating to the stock. AFLAC has a consensus rating of “Buy” and an average target price of $64.47.
Aflac Incorporated (NYSE:AFL) is a general business holding company and acts as a management company, overseeing the operations of its subsidiaries by providing management services.
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