Credit Suisse reiterates Brown & Brown Inc. [BRO] rating to Neutral and sets new price target at $50

0
831
PBYI Stock
PBYI Stock

Credit Suisse maintained its Brown & Brown Inc. [NYSE:BRO]‎ rating to the equivalent of Neutral but ‎changed the price target ‎to $50 ‎from $47, in a research note dated December 31, 2020. That figure ‎represents around a 8.10% ‎premium ‎from where the company’s shares closed on Wednesday.‎ ‎Other ‎analysts also revised their coverage, with Morgan Stanley’s analysts upgrading the shares from ‎‎”an ‎Underweight” rating to “an Equal-weight” rating in a research note to investors issued in ‎early ‎December. Meanwhile, Credit Suisse had launched its coverage on BRO with “Neutral”, in a ‎research ‎note produced for clients August 07, 2018. In addition, there was an upgrade from SunTrust ‎on ‎December 06, 2017. The rater changed BRO from “a Hold” to “a Buy”.

Get the hottest stocks to trade every day before the market ‎opens 100% ‎free. Click here now. ‎‎

Is Brown & Brown Inc. [NYSE:BRO] a ‎Good Buy Right Now?

It should be noted that BRO ‎technical indicators for short, intermediate as ‎well as long term progress have placed an overall ‎average of 72% as Buy. The average signal changed ‎from 40% Buy in the last week and compares with ‎‎48% Buy in the past month. Data from Brown & ‎Brown Inc.’s Trend Spotter indicated that the signals ‎were Strengthening. The stock current average is ‎‎0.97 million shares in the past 20 days and the short ‎term average signal indicates a Hold. In the last 50 ‎days, the average trading volume was 0.97 million ‎shares while the medium term average advocated ‎for 100% Buy. The average long-term signal stands ‎at 100% Buy and the 100-day average volume ‎stands at 0.92 million shares.‎‎


Do You Own These 7 Inflation-Survival Stocks?

Inflation is still near 40-year highs and rising prices are putting a big dent in our wallets. Unless you find out how to protect your portfolio and outpace inflation, you'll keep being at the mercy of economic factors out of your control. Especially since the price of electricity, food, and shelter are creeping up higher than ever. In this special report, I detail 7 stocks to help you survive and thrive in today's market. They're backed by solid companies, positioned to profit during tough economic times, and offer out-sized dividends to help you outpace inflation.

Click here to get your free copy of the report

Sponsored


BRO Price Performance

On Wall Street, Brown & Brown Inc. ‎‎[NYSE:BRO] finished ‎Wednesday’s session up 0.48% at $46.25. The stock went up to $46.71 at the same ‎session while its ‎lowest single day price was $46.00. In the last five days, it saw a rise of about 1.23%, ‎Brown & Brown ‎Inc. shares gained by almost 17.15% since the beginning of the year. However, the ‎share price has ‎dropped to as low as -5.01% below its one year high. On 02/21/20, the company shares ‎recorded ‎‎$48.69, the highest single-day price it has got to in the last 52-weeks and a 52-week low was ‎seen on ‎‎03/23/20, the same year at $30.70. The company’s shares have inclined by 17.15% in the past ‎year. The ‎‎50-day SMA achieved is $45.85 while the 200-day SMA is $42.67. Volume gained to 0.71 ‎million from ‎‎0.65 million in the previous session.‎‎

Brown & Brown Inc. [BRO] Valuation ‎Measures

Notably, Brown & Brown Inc. [BRO] stock ‎cannot be classified as a good candidate in ‎the listing of underestimated low-priced Insurance Brokers ‎companies to purchase soonest possible ‎with the prevailing 12-month PE ratio of 28.73. The measure ‎means the stock is exchanging at a ‎premium as compared to the 13.13x trailing earnings of the ‎industry. It can be helpful for investors to ‎consider historical price-sales ratio, more specifically, a 5.08 ‎PS value ratio is reported for the last one ‎year of reported earnings. That is higher than the industry ‎average of 1.07 which means BRO serve an ‎unattractive investment opportunity compared to its ‎competitors.‎‎

BRO Stock Support And ‎Resistance Levels

On the 24-hour scale, the immediate backing is ‎perceived around 45.93 level, ‎and in case of violation of this particular level, it will cause more drop to ‎‎45.61 level. On the upper level, ‎‎47.03 is still the key resistance. The stock may increase to the ‎subsequent resistance at 46.64. The ‎Relative Strength Index (RSI) pinned on the 14-day chart is 53.57, ‎implying a neutral technical stance ‎while the MACD stands at 0.16, meaning price will decrease in the ‎next trading period. Percent R ‎indicator moved to 35.41%, implying low price movement. Stochastic %K ‎at 58.57% suggest selling the ‎stock.‎‎

What is the short interest in Brown & Brown Inc.?

Short interest in the Brown & ‎Brown Inc. ‎stock has surged, increasing by 10000.0 shares to total 2.99 million shares on Dec 14, 2020. ‎The interest ‎had seen shares on Nov 12, 2020 stand at 3.0 million, data from Yahoo Finance shows. The ‎decrease of ‎‎-0.33% suggests the stock saw some decreased bullish sentiment. The stock’s days to ‎cover (short ‎ratio) moved to while the shorted shares account for just 1.45% of the overall float for the ‎stock.‎‎

Brown & Brown Inc.’s Biggest Shareholders: Who Owns Brown & Brown Inc. ‎‎[BRO]?

Filings ‎by The Vanguard Group, Inc. showed that the firm now holds a total of 23,356,189 ‎shares or roughly ‎‎8.22% of the outstanding BRO shares. This means their shares have reduced by -‎‎1,240,598 from the ‎‎23,356,189 the investor reportedly held in its prior 13-F filing. With the conclusion of ‎the sale, BlackRock ‎Fund Advisors updated stake is worth $1,036,875,190. Details in the latest 13F filings ‎reveal that Select ‎Equity Group LP acquired their 2.57% stake valued at $582,736,157 while SSgA Funds ‎Management, Inc. ‎cut theirs at $423,058,201. During the last quarter, Select Equity Group LP raised ‎‎324,549 of its shares in ‎Brown & Brown Inc. while SSgA Funds Management, Inc. sold -559,292 shares. ‎The Principal Global ‎Investors LLC’s holdings currently number 8,956,762 shares at $414250242.5. ‎According to the firm’s last ‎‎13F report, First Eagle Investment Management shares in the company at ‎filing stood at 8,400,336 ‎shares, roughly $378,267,130.‎‎

BRO Earnings Forecast For The Current ‎Quarter

Brown & Brown Inc. [BRO] is expected to ‎report strong earnings results for the quarter ‎ending on Dec 2020. Consensus estimates give the ‎company expected revenues of $622.7M and an ‎earnings per share of $0.29 for Dec 2020. Looking ‎further ahead, the company is expected to report ‎revenue of $742.7M at an EPS of $0.53 for Mar 2021. ‎The estimates represent upside of 7.10% and ‎‎3.14% in the company’s revenue and earnings per share, ‎respectively, on a year-on-year basis.‎‎

Get the hottest stocks to trade every day before the market ‎opens 100% ‎free. Click here now. 

BRO Earnings Estimates For The ‎Current ‎Year

For the financial year, Brown & Brown Inc. [NYSE:BRO] is expected to bring in ‎revenue of ‎‎$2.59B. The returns are nearly $200.0 million higher than the company’s actual revenue ‎recorded in the ‎fiscal year 2019. In terms of EPS for the 2020, estimate put it at 1.66, higher than that of ‎FY19 by $0.26. ‎Estimates put this year’s earnings growth at 18.60%, 3.00% for the next, and at an annual ‎‎10.47% over ‎the next 5-year period. As for sales, forecasts are for an increase of 8.50% in the current ‎fiscal year and ‎a further 7.10% over the following year.‎

LEAVE A REPLY

Please enter your comment!
Please enter your name here