SelectQuote (NYSE:SLQT) Given New $3.00 Price Target at Royal Bank Of Canada

SelectQuote (NYSE:SLQT) had its price objective lowered by stock analysts at Royal Bank Of Canada from $5.00 to $3.00 in a research report issued on Wednesday,Benzinga reports. The brokerage currently has a “sector perform” rating on the stock. Royal Bank Of Canada’s price objective points to a potential upside of 244.83% from the company’s previous close.

Several other equities analysts have also weighed in on SLQT. Weiss Ratings raised shares of SelectQuote from a “sell (d)” rating to a “hold (c-)” rating in a report on Friday. Craig Hallum set a $3.00 price target on shares of SelectQuote in a research report on Friday. Zacks Research upgraded SelectQuote from a “hold” rating to a “strong-buy” rating in a report on Friday, February 6th. Finally, Wall Street Zen raised SelectQuote from a “sell” rating to a “hold” rating in a research note on Saturday. Two equities research analysts have rated the stock with a Strong Buy rating and three have given a Hold rating to the stock. According to data from MarketBeat.com, SelectQuote currently has an average rating of “Moderate Buy” and an average target price of $2.92.

SelectQuote Stock Down 4.1%

NYSE SLQT traded down $0.04 during trading on Wednesday, reaching $0.87. 1,664,145 shares of the company’s stock traded hands, compared to its average volume of 1,597,635. SelectQuote has a 12-month low of $0.82 and a 12-month high of $6.21. The company has a debt-to-equity ratio of 1.07, a current ratio of 5.65 and a quick ratio of 5.65. The firm has a market cap of $153.37 million, a price-to-earnings ratio of 86.39 and a beta of 1.23. The company’s 50 day simple moving average is $1.42 and its two-hundred day simple moving average is $1.75.

SelectQuote (NYSE:SLQT) last released its quarterly earnings results on Thursday, February 5th. The company reported $0.26 earnings per share for the quarter, beating analysts’ consensus estimates of $0.17 by $0.09. SelectQuote had a net margin of 4.80% and a return on equity of 14.85%. The business had revenue of $537.10 million for the quarter, compared to analysts’ expectations of $530.73 million. As a group, sell-side analysts forecast that SelectQuote will post -0.07 EPS for the current fiscal year.

Institutional Investors Weigh In On SelectQuote

A number of hedge funds and other institutional investors have recently modified their holdings of the company. Dynamic Technology Lab Private Ltd acquired a new position in shares of SelectQuote during the 3rd quarter worth about $27,000. CIBC Bancorp USA Inc. acquired a new stake in shares of SelectQuote during the 3rd quarter worth about $29,000. Aquatic Capital Management LLC purchased a new stake in SelectQuote during the third quarter worth approximately $29,000. Russell Investments Group Ltd. boosted its holdings in SelectQuote by 90.7% in the second quarter. Russell Investments Group Ltd. now owns 16,133 shares of the company’s stock valued at $38,000 after purchasing an additional 7,675 shares in the last quarter. Finally, Nations Financial Group Inc. IA ADV boosted its holdings in SelectQuote by 44.4% in the third quarter. Nations Financial Group Inc. IA ADV now owns 19,500 shares of the company’s stock valued at $38,000 after purchasing an additional 6,000 shares in the last quarter. 34.59% of the stock is currently owned by institutional investors and hedge funds.

About SelectQuote

SelectQuote, Inc (NYSE: SLQT) is a U.S.-based insurance brokerage and lead generation company that connects consumers with a range of insurance products through proprietary technology and licensed agents. The company specializes in life insurance, supplemental health coverage and Medicare plans, leveraging its digital platform and call center operations to help individuals compare policies and find cost-effective solutions tailored to their needs.

Through a single point of contact, policy seekers can evaluate offerings from multiple carriers, including term life, whole life, accidental death, critical illness and long-term care products.