Arch Capital Group Downgraded to Neutral at Zacks (ACGL)
Arch Capital Group (NASDAQ:ACGL) was downgraded by Zacks from an “outperform” rating to a “neutral” rating in a research report issued to clients and investors on Monday. They currently have a $61.90 price objective on the stock. Zacks‘s price target suggests a potential upside of 13.37% from the stock’s previous close.
In other Arch Capital Group news, CFO Mark Donald Lyons sold 28,500 shares of the company’s stock in a transaction dated Monday, August 4th. The stock was sold at an average price of $54.28, for a total value of $1,546,980.00. The sale was disclosed in a filing with the SEC, which is available at this link.
Shares of Arch Capital Group (NASDAQ:ACGL) traded up 0.44% during mid-day trading on Monday, hitting $54.84. The stock had a trading volume of 324,166 shares. Arch Capital Group has a 1-year low of $52.23 and a 1-year high of $59.78. The stock has a 50-day moving average of $56.17 and a 200-day moving average of $56.33. The company has a market cap of $7.275 billion and a P/E ratio of 11.51.
Arch Capital Group (NASDAQ:ACGL) last announced its earnings results on Thursday, July 31st. The company reported $1.17 earnings per share for the quarter, beating the analysts’ consensus estimate of $0.99 by $0.18. The company had revenue of $971.90 million for the quarter, compared to the consensus estimate of $926.20 million. During the same quarter last year, the company posted $0.99 earnings per share. Arch Capital Group’s revenue was up 19.9% compared to the same quarter last year. Analysts expect that Arch Capital Group will post $3.96 EPS for the current fiscal year.
Arch Capital Group Ltd. (NASDAQ:ACGL) writes insurance and reinsurance on a worldwide basis.
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