Deutsche Bank Reiterates “Hold” Rating for The Allstate (ALL)
The Allstate (NYSE:ALL)‘s stock had its “hold” rating reiterated by equities researchers at Deutsche Bank in a research report issued on Tuesday, AR Network reports. They currently have a $62.00 price target on the stock, up from their previous price target of $58.00. Deutsche Bank’s price objective indicates a potential upside of 6.26% from the stock’s previous close.
In other The Allstate news, Director Ronald Lemay unloaded 3,036 shares of the stock in a transaction dated Thursday, May 8th. The shares were sold at an average price of $57.97, for a total transaction of $175,996.92. Following the transaction, the director now directly owns 7,034 shares of the company’s stock, valued at approximately $407,761. The transaction was disclosed in a document filed with the SEC, which can be accessed through this link.
A number of other analysts have also recently weighed in on ALL. Analysts at Raymond James reiterated a “strong-buy” rating on shares of The Allstate in a research note on Friday. They now have a $67.00 price target on the stock, up previously from $63.00. Separately, analysts at Argus raised their price target on shares of The Allstate to $65.00 in a research note on Friday. Finally, analysts at Citigroup Inc. reiterated a “hold” rating on shares of The Allstate in a research note on Wednesday, May 7th. They now have a $58.00 price target on the stock, up previously from $57.00. Five equities research analysts have rated the stock with a hold rating, eight have given a buy rating and one has given a strong buy rating to the stock. The stock currently has an average rating of “Buy” and an average price target of $60.00.
Shares of The Allstate (NYSE:ALL) traded up 0.19% on Tuesday, hitting $58.46. The stock had a trading volume of 1,040,143 shares. The Allstate has a 52 week low of $45.60 and a 52 week high of $58.44. The stock’s 50-day moving average is $56.40 and its 200-day moving average is $54.25. The company has a market cap of $25.371 billion and a price-to-earnings ratio of 12.61. The Allstate also saw a large decrease in short interest in the month of April. As of April 15th, there was short interest totalling 12,313,034 shares, a decrease of 19.7% from the March 31st total of 15,328,952 shares. Based on an average trading volume of 2,699,206 shares, the days-to-cover ratio is presently 4.6 days. Currently, 2.9% of the shares of the company are sold short.
The Allstate (NYSE:ALL) last released its earnings data on Tuesday, May 6th. The company reported $1.30 earnings per share for the quarter, beating the analysts’ consensus estimate of $0.54 by $0.76. The company had revenue of $7.06 billion for the quarter, compared to the consensus estimate of $8.46 billion. During the same quarter last year, the company posted $1.47 earnings per share. The Allstate’s revenue was up 4.3% compared to the same quarter last year. Analysts expect that The Allstate will post $5.19 EPS for the current fiscal year.
The Allstate Corporation (NYSE:ALL) is a holding company for Allstate Insurance Company.
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