Stephens Downgrades Brown & Brown to Equal Weight (BRO)
Brown & Brown (NYSE:BRO) was downgraded by investment analysts at Stephens from an “overweight” rating to an “equal weight” rating in a note issued to investors on Wednesday, TheFlyOnTheWall.com reports.
Brown & Brown (NYSE:BRO) traded up 0.59% during mid-day trading on Wednesday, hitting $32.52. 120,360 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 has a 50-day moving average of $32.2 and a 200-day moving average of $32.19. The company has a market cap of $4.712 billion and a P/E ratio of 23.09.
Brown & Brown (NYSE:BRO) last issued its quarterly earnings data on Tuesday, October 15th. The company reported $0.39 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.40 by $0.01. The company had revenue of $359.31 million for the quarter, compared to the consensus estimate of $348.85 million. During the same quarter in the previous year, the company posted $0.34 earnings per share. The company’s revenue for the quarter was up 18.3% on a year-over-year basis. Analysts expect that Brown & Brown will post $1.52 EPS for the current fiscal year.
Several other analysts have also recently commented on the stock. Analysts at Wells Fargo & Co. reiterated a “buy” rating on shares of Brown & Brown in a research note to investors on Wednesday, October 2nd. They now have a $40.00 price target on the stock. Separately, analysts at Barclays raised their price target on shares of Brown & Brown from $30.00 to $34.00 in a research note to investors on Wednesday, October 2nd. They now have an “equal weight” rating on the stock. Finally, analysts at Zacks upgraded shares of Brown & Brown from a “neutral” rating to an “outperform” rating in a research note to investors on Tuesday, October 1st. They now have a $36.90 price target on the stock. Seven research analysts have rated the stock with a hold rating and nine have assigned a buy rating to the company’s stock. Brown & Brown has an average rating of “Buy” and a consensus target price of $35.53.
Brown & Brown, Inc is a diversified insurance agency, wholesale brokerage, insurance programs and service company.
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