Brown & Brown Upgraded to Outperform by Zacks (BRO)
Brown & Brown (NYSE:BRO) was upgraded by Zacks from a “neutral” rating to an “outperform” rating in a report issued on Tuesday, Analyst Ratings.Net reports. The firm currently has a $36.90 price objective on the stock. Zacks‘ price target indicates a potential upside of 12.57% from the stock’s previous close.
Shares of Brown & Brown (NYSE:BRO) traded up 2.12% on Tuesday, hitting $32.78. 1,446,163 shares of the company’s stock traded hands. Brown & Brown has a 1-year low of $24.88 and a 1-year high of $35.13. The stock’s 50-day moving average is $32.16 and its 200-day moving average is $32.10. The company has a market cap of $4.750 billion and a price-to-earnings ratio of 22.93.
Brown & Brown (NYSE:BRO) last posted its quarterly earnings results on Monday, July 15th. The company reported $0.36 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.35 by $0.01. The company had revenue of $325.79 million for the quarter, compared to the consensus estimate of $318.70 million. During the same quarter in the previous year, the company posted $0.29 earnings per share. The company’s revenue for the quarter was up 12.0% on a year-over-year basis. On average, analysts predict that Brown & Brown will post $1.52 earnings per share for the current fiscal year.
A number of other firms have also recently commented on BRO. Analysts at Wells Fargo & Co. reiterated a “buy” rating on shares of Brown & Brown (NYSE:BRO) in a research note to investors on Monday, September 9th. They now have a $40.00 price target on the stock. Separately, analysts at Deutsche Bank raised their price target on shares of Brown & Brown (NYSE:BRO) from $37.00 to $38.00 in a research note to investors on Monday, September 9th. They now have a “buy” rating on the stock. Finally, analysts at BMO Capital Markets initiated coverage on shares of Brown & Brown (NYSE:BRO) in a research note to investors on Tuesday, September 3rd. They set a “market perform” rating and a $34.00 price target on the stock. Six equities research analysts have rated the stock with a hold rating and nine have issued a buy rating to the company’s stock. Brown & Brown currently has an average rating of “Buy” and a consensus price target of $35.22.
Brown & Brown, Inc is a diversified insurance agency, wholesale brokerage, insurance programs and service company.
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