Short Interest in Brown & Brown Rises By 105.5% (BRO)
Brown & Brown (NYSE:BRO) saw a significant increase in short interest in the month of April. As of April 30th, there was short interest totalling 2,427,359 shares, an increase of 105.5% from the April 15th total of 1,180,995 shares, AnalystRatings.Net reports. Currently, 2.0% of the shares of the company are short sold. Based on an average daily volume of 1,336,673 shares, the days-to-cover ratio is currently 1.8 days.
A number of analysts have recently weighed in on BRO shares. Analysts at Macquarie cut their price target on shares of Brown & Brown from $32.00 to $1.00 in a research note on Thursday. Separately, analysts at Compass Point downgraded shares of Brown & Brown from a “buy” rating to a “neutral” rating in a research note on Wednesday, April 23rd. They now have a $33.00 price target on the stock, down previously from $36.00. Finally, analysts at Barclays cut their price target on shares of Brown & Brown from $34.00 to $32.00 in a research note on Tuesday, April 22nd. They now have an “overweight” rating on the stock. One investment analyst has rated the stock with a sell rating, five have given a hold rating and four have issued a buy rating to the company. The company presently has an average rating of “Hold” and an average price target of $31.32.
Shares of Brown & Brown (NYSE:BRO) opened at 30.07 on Monday. Brown & Brown has a 52 week low of $27.76 and a 52 week high of $35.13. The stock’s 50-day moving average is $29.68 and its 200-day moving average is $30.55. The company has a market cap of $4.359 billion and a P/E ratio of 20.76.
Brown & Brown (NYSE:BRO) last issued its quarterly earnings data on Monday, April 21st. The company reported $0.40 EPS for the quarter, missing the Thomson Reuters consensus estimate of $0.42 by $0.02. On average, analysts predict that Brown & Brown will post $1.63 earnings per share for the current fiscal year.
Brown & Brown, Inc (NYSE:BRO) is a diversified insurance agency providing wholesale brokerage and insurance programs and services.
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