W. R. Berkley (NYSE:WRB) Upgraded by Boenning Scattergood to Outperform

W. R. Berkley (NYSE:WRB) was upgraded by investment analysts at Boenning Scattergood from a “neutral” rating to an “outperform” rating in a report issued on Monday, Price Targets.com reports. The brokerage currently has a $87.00 price target on the insurance provider’s stock. Boenning Scattergood’s target price suggests a potential upside of 21.31% from the company’s current price.

Several other research analysts also recently commented on the company. Bank of America upgraded W. R. Berkley from an “underperform” rating to a “neutral” rating and lifted their target price for the stock from $80.00 to $86.00 in a research note on Thursday, August 19th. They noted that the move was a valuation call. Royal Bank of Canada reduced their target price on W. R. Berkley from $90.00 to $88.00 and set an “outperform” rating for the company in a research note on Friday, July 23rd. Zacks Investment Research upgraded W. R. Berkley from a “hold” rating to a “strong-buy” rating and set a $86.00 target price for the company in a research note on Tuesday, July 27th. Finally, Wolfe Research started coverage on W. R. Berkley in a research note on Monday, August 16th. They set a “market perform” rating and a $76.00 target price for the company. Six equities research analysts have rated the stock with a hold rating and five have given a buy rating to the stock. According to data from MarketBeat.com, W. R. Berkley has a consensus rating of “Hold” and a consensus price target of $81.55.

WRB stock opened at $71.72 on Monday. The company has a quick ratio of 0.41, a current ratio of 0.41 and a debt-to-equity ratio of 0.44. The business has a 50 day moving average price of $74.13 and a two-hundred day moving average price of $76.10. The company has a market cap of $12.73 billion, a price-to-earnings ratio of 14.40, a P/E/G ratio of 1.80 and a beta of 0.85. W. R. Berkley has a twelve month low of $58.84 and a twelve month high of $82.43.

W. R. Berkley (NYSE:WRB) last posted its quarterly earnings results on Wednesday, July 21st. The insurance provider reported $1.17 earnings per share for the quarter, beating the Zacks’ consensus estimate of $1.00 by $0.17. The firm had revenue of $1.97 billion during the quarter, compared to the consensus estimate of $1.90 billion. W. R. Berkley had a return on equity of 11.27% and a net margin of 10.57%. The business’s revenue was up 17.6% compared to the same quarter last year. During the same period last year, the company earned $0.38 earnings per share. On average, equities research analysts anticipate that W. R. Berkley will post 4.44 EPS for the current fiscal year.

Large investors have recently added to or reduced their stakes in the stock. Maverick Capital Ltd. acquired a new stake in W. R. Berkley during the 2nd quarter worth approximately $36,000. Quadrant Capital Group LLC lifted its holdings in W. R. Berkley by 174.2% during the 1st quarter. Quadrant Capital Group LLC now owns 595 shares of the insurance provider’s stock worth $45,000 after purchasing an additional 378 shares during the last quarter. Capital Analysts LLC acquired a new position in W. R. Berkley in the 2nd quarter valued at $45,000. Deseret Mutual Benefit Administrators acquired a new position in W. R. Berkley in the 2nd quarter valued at $66,000. Finally, HM Payson & Co. acquired a new position in W. R. Berkley in the 2nd quarter valued at $102,000. 68.24% of the stock is owned by institutional investors and hedge funds.

W. R. Berkley Company Profile

W.R. Berkley Corp. is an insurance holding company, which engages in the property casualty insurance business. It operates through the following segments: Insurance and Reinsurance & Monoline Excess. The Insurance segment includes excess and surplus lines, admitted lines, and specialty personal lines throughout the United States, as well as insurance business in the United Kingdom, Continental Europe, South America, Canada, Mexico, Scandinavia, Asia and Australia.

Recommended Story: What sectors are represented in the Hang Seng index?

Analyst Recommendations for W. R. Berkley (NYSE:WRB)

Receive News & Ratings for W. R. Berkley Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for W. R. Berkley and related companies with MarketBeat.com's FREE daily email newsletter.