Arthur J. Gallagher & Co. Upgraded to “Overweight” by Barclays (AJG)
Arthur J. Gallagher & Co. (NYSE:AJG) was upgraded by research analysts at Barclays from an “equal weight” rating to an “overweight” rating in a report released on Tuesday, AmericanBankingNews.com reports. The firm currently has a $54.00 price target on the stock, up from their previous price target of $48.00. Barclays’ price objective indicates a potential upside of 14.04% from the stock’s previous close.
Arthur J. Gallagher & Co. (NYSE:AJG) traded up 2.67% during mid-day trading on Tuesday, hitting $47.35. 1,152,069 shares of the company’s stock traded hands. Arthur J. Gallagher & Co. has a 52 week low of $35.07 and a 52 week high of $48.49. The stock’s 50-day moving average is $46.4 and its 200-day moving average is $45.14. The company has a market cap of $6.228 billion and a price-to-earnings ratio of 24.53.
Arthur J. Gallagher & Co. (NYSE:AJG) last announced its earnings results on Wednesday, October 30th. The company reported $0.57 EPS for the quarter, missing the Thomson Reuters consensus estimate of $0.62 by $0.05. The company had revenue of $835.80 million for the quarter, compared to the consensus estimate of $744.50 million. During the same quarter in the prior year, the company posted $0.52 earnings per share. The company’s quarterly revenue was up 28.5% on a year-over-year basis. On average, analysts predict that Arthur J. Gallagher & Co. will post $2.15 earnings per share for the current fiscal year.
Other equities research analysts have also recently issued reports about the stock. Analysts at Deutsche Bank raised their price target on shares of Arthur J. Gallagher & Co. from $44.00 to $47.00 in a research note to investors on Thursday, November 7th. They now have a “hold” rating on the stock. Separately, analysts at RBC Capital raised their price target on shares of Arthur J. Gallagher & Co. from $44.00 to $49.00 in a research note to investors on Friday, November 1st. They now have a “sector perform” rating on the stock. Finally, analysts at Keefe, Bruyette & Woods raised their price target on shares of Arthur J. Gallagher & Co. from $49.00 to $54.00 in a research note to investors on Thursday, October 31st. Four research analysts have rated the stock with a hold rating and six have issued a buy rating to the company. The company presently has a consensus rating of “Buy” and a consensus target price of $48.11.
Arthur J. Gallagher & Co, along with its subsidiaries, provides insurance brokerage and third-party claims settlement and administration services to entities in the United States and abroad.
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