ProAssurance Price Target Cut to $46.00 (PRA)
Research analysts at Keefe, Bruyette & Woods cut their target price on shares of ProAssurance (NYSE:PRA) from $48.00 to $46.00 in a report released on Thursday. Keefe, Bruyette & Woods’ price objective indicates a potential upside of 5.34% from the stock’s previous close.
Shares of ProAssurance (NYSE:PRA) traded down 0.34% on Thursday, hitting $43.52. 53,524 shares of the company’s stock traded hands. ProAssurance has a one year low of $42.29 and a one year high of $50.79. The stock has a 50-day moving average of $44.56 and a 200-day moving average of $44.87. The company has a market cap of $2.773 billion and a P/E ratio of 11.65.
ProAssurance (NYSE:PRA) last posted its quarterly earnings results on Tuesday, August 5th. The company reported $0.69 earnings per share for the quarter, meeting the analysts’ consensus estimate of $0.69. The company had revenue of $222.50 million for the quarter, compared to the consensus estimate of $177.24 million. During the same quarter last year, the company posted $0.72 earnings per share. ProAssurance’s revenue was up 30.3% compared to the same quarter last year. Analysts expect that ProAssurance will post $3.08 EPS for the current fiscal year.
Other equities research analysts have also recently issued reports about the stock. Analysts at Zacks reiterated a “neutral” rating on shares of ProAssurance in a research note on Wednesday. They now have a $46.00 price target on the stock. Two analysts have rated the stock with a hold rating and one has assigned a buy rating to the company’s stock. The company currently has a consensus rating of “Hold” and an average price target of $46.75.
ProAssurance Corporation is a holding company for property and casualty insurance companies focused on professional liability insurance.
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