Fidelis Insurance (NYSE:PLGO) Stock Rating Upgraded by Zacks Research

Fidelis Insurance (NYSE:PLGO) was upgraded by investment analysts at Zacks Research from a “strong sell” rating to a “strong-buy” rating in a research report issued to clients and investors on Thursday,Zacks.com reports.

A number of other analysts have also commented on the company. Wall Street Zen raised Fidelis Insurance from a “hold” rating to a “buy” rating in a report on Saturday, May 16th. Weiss Ratings assumed coverage on Fidelis Insurance in a report on Wednesday, May 13th. They set a “buy (b)” rating for the company. Keefe, Bruyette & Woods boosted their price objective on Fidelis Insurance from $26.50 to $28.00 and gave the stock an “outperform” rating in a report on Friday, May 15th. Barclays boosted their target price on Fidelis Insurance from $21.00 to $22.00 and gave the stock an “equal weight” rating in a research note on Friday, May 15th. Finally, JPMorgan Chase & Co. boosted their target price on Fidelis Insurance from $21.00 to $23.00 and gave the stock an “underweight” rating in a research note on Tuesday. One analyst has rated the stock with a Strong Buy rating, two have assigned a Buy rating, one has issued a Hold rating and one has issued a Sell rating to the company. According to data from MarketBeat, the stock presently has an average rating of “Moderate Buy” and an average price target of $24.33.

Fidelis Insurance Price Performance

Shares of PLGO opened at $21.54 on Thursday. The company has a debt-to-equity ratio of 0.37, a current ratio of 0.70 and a quick ratio of 0.70. The company has a market cap of $1.86 billion, a price-to-earnings ratio of 5.76 and a beta of 0.36. Fidelis Insurance has a 52 week low of $14.80 and a 52 week high of $24.06.

Fidelis Insurance (NYSE:PLGO) last issued its quarterly earnings data on Wednesday, May 13th. The company reported $0.94 EPS for the quarter, topping analysts’ consensus estimates of $0.75 by $0.19. The firm had revenue of $612.20 million during the quarter, compared to analyst estimates of $577.19 million. Fidelis Insurance had a return on equity of 14.44% and a net margin of 15.33%. On average, equities analysts anticipate that Fidelis Insurance will post 3.78 earnings per share for the current year.

Fidelis Insurance Company Profile

Fidelis is a leading global provider of bespoke and specialty insurance and reinsurance products. We believe our differentiated underwriting positions us well to generate strong returns across (re)insurance cycles. Current Fidelis is led by Mr. Daniel Burrows who has more than 35 years of experience in the insurance industry and is supported by a highly experienced management team that manages the operations of Current Fidelis based on our founding principles. Following the Separation Transactions, Current Fidelis is positioned as a global, specialty insurance provider with exclusive right of first access to Fidelis MGU’s underwriting business during the term of the Framework Agreement.