Old Republic International Corp. Rating Increased to Outperform at Zacks (ORI)
Old Republic International Corp. (NYSE:ORI) was upgraded by Zacks from a “neutral” rating to an “outperform” rating in a report released on Tuesday, American Banking and Market News reports. The firm currently has a $18.60 price target on the stock. Zacks‘ target price indicates a potential upside of 18.85% from the stock’s previous close.
Old Republic International Corp. (NYSE:ORI) traded up 0.03% during mid-day trading on Tuesday, hitting $15.655. 823,484 shares of the company’s stock traded hands. Old Republic International Corp. has a 52 week low of $11.25 and a 52 week high of $17.45. The stock’s 50-day moving average is $16.71 and its 200-day moving average is $15.68. The company has a market cap of $4.028 billion and a price-to-earnings ratio of 12.92.
Old Republic International Corp. (NYSE:ORI) last posted its quarterly earnings results on Thursday, January 23rd. The company reported $0.25 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.20 by $0.05. The company had revenue of $1.33 billion for the quarter, compared to the consensus estimate of $1.33 billion. During the same quarter in the previous year, the company posted ($0.09) earnings per share. The company’s revenue for the quarter was up 4.0% on a year-over-year basis. Analysts expect that Old Republic International Corp. will post $1.12 EPS for the current fiscal year.
Other equities research analysts have also recently issued reports about the stock. Analysts at Macquarie initiated coverage on shares of Old Republic International Corp. in a research note to investors on Tuesday, January 7th. They set a “neutral” rating on the stock. Separately, analysts at JMP Securities initiated coverage on shares of Old Republic International Corp. in a research note to investors on Tuesday, December 17th. They set a “market perform” rating on the stock. Finally, analysts at Wedbush downgraded shares of Old Republic International Corp. from an “outperform” rating to a “neutral” rating in a research note to investors on Monday, November 4th. Four equities research analysts have rated the stock with a hold rating and three have given a buy rating to the company’s stock. The company presently has an average rating of “Hold” and a consensus price target of $27.15.
In other Old Republic International Corp. news, Director James Hellauer purchased 4,000 shares of the company’s stock in a transaction that occurred on Monday, January 27th. The shares were purchased at an average price of $15.38 per share, with a total value of $61,520.00. Following the completion of the acquisition, the director now directly owns 25,400 shares of the company’s stock, valued at approximately $390,652. The purchase was disclosed in a legal filing with the SEC, which is available at this link.
Old Republic International Corporation (NYSE:ORI) is a holding company engaged in the single business of insurance underwriting.
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