Barclays Increases Protective Life Corp. Price Target to $58.00 (PL)
Stock analysts at Barclays hoisted their price objective on shares of Protective Life Corp. (NYSE:PL) from $52.00 to $58.00 in a report issued on Tuesday, Analyst Ratings News reports. The firm currently has an “overweight” rating on the stock. Barclays’ price target points to a potential upside of 14.38% from the stock’s previous close.
A number of other firms have also recently commented on PL. Analysts at Credit Suisse upgraded shares of Protective Life Corp. from an “underperform” rating to a “neutral” rating in a research note to investors on Monday. Separately, analysts at Evercore Partners upgraded shares of Protective Life Corp. from an “equal weight” rating to an “overweight” rating in a research note to investors on Monday, December 9th. They now have a $56.00 price target on the stock, up previously from $49.00. Finally, analysts at Zacks reiterated a “neutral” rating on shares of Protective Life Corp. in a research note to investors on Tuesday, December 3rd. They now have a $51.00 price target on the stock. One equities research analyst has rated the stock with a sell rating, two have given a hold rating and four have given a buy rating to the company’s stock. The company presently has a consensus rating of “Hold” and a consensus target price of $50.57.
Shares of Protective Life Corp. (NYSE:PL) traded up 1.16% during mid-day trading on Tuesday, hitting $51.30. 291,056 shares of the company’s stock traded hands. Protective Life Corp. has a 52-week low of $29.93 and a 52-week high of $51.74. The stock’s 50-day moving average is $49.02 and its 200-day moving average is $44.70. The company has a market cap of $4.030 billion and a price-to-earnings ratio of 12.03.
Protective Life Corp. (NYSE:PL) last posted its quarterly earnings results on Thursday, October 31st. The company reported $1.15 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.96 by $0.19. During the same quarter in the prior year, the company posted $0.73 earnings per share. On average, analysts predict that Protective Life Corp. will post $3.95 earnings per share for the current fiscal year.
Protective Life Corporation is a holding company. The Company, along with its subsidiaries, provides financial services through the production, distribution, and administration of insurance and investment products.
Get Analysts' Upgrades and Downgrades via Email - Stay on top of analysts' coverage with Analyst Ratings Network's FREE daily email newsletter that provides a concise list of analysts' upgrades and downgrades. Click here to register now.