Brown & Brown Rating Reiterated by Wells Fargo & Co. (BRO)
Brown & Brown (NYSE:BRO)‘s stock had its “buy” rating reaffirmed by investment analysts at Wells Fargo & Co. in a note issued to investors on Wednesday, Analyst Ratings Network.com reports. They currently have a $40.00 price objective on the stock. Wells Fargo & Co.’s target price points to a potential upside of 21.69% from the stock’s previous close.
Shares of Brown & Brown (NYSE:BRO) traded up 0.27% during mid-day trading on Wednesday, hitting $32.87. The stock had a trading volume of 872,123 shares. Brown & Brown has a 52-week low of $24.88 and a 52-week high of $35.13. The stock’s 50-day moving average is $32.18 and its 200-day moving average is $32.11. The company has a market cap of $4.763 billion and a P/E ratio of 23.41.
Brown & Brown (NYSE:BRO) last announced its earnings results on Monday, July 15th. The company reported $0.36 earnings per share for the quarter, beating the analysts’ 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 last year, the company posted $0.29 earnings per share. Brown & Brown’s revenue was up 12.0% compared to the same quarter last year. On average, analysts predict that Brown & Brown will post $1.52 earnings per share for the current fiscal year.
Several other analysts have also recently commented on the stock. Analysts at Barclays Capital raised their price target on shares of Brown & Brown (NYSE:BRO) from $30.00 to $34.00 in a research note to investors on Wednesday. They now have an “equal weight” rating on the stock. Separately, analysts at Zacks upgraded shares of Brown & Brown (NYSE:BRO) from a “neutral” rating to an “outperform” rating in a research note to investors on Tuesday. They now have a $36.90 price target on the stock. Finally, 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. Six analysts have rated the stock with a hold rating and nine have issued a buy rating to the company’s stock. Brown & Brown presently has a consensus rating of “Buy” and a consensus price target of $35.53.
Brown & Brown, Inc is a diversified insurance agency, wholesale brokerage, insurance programs and service company.
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