Argo Group International (NYSE:ARGO) was upgraded by Zacks Investment Research from a “hold” rating to a “buy” rating in a report released on Tuesday, Zacks.com reports. The brokerage currently has a $59.00 target price on the stock. Zacks Investment Research‘s price objective points to a potential upside of 10.99% from the stock’s previous close.
According to Zacks, “PXRE Group Ltd. provides reinsurance products and services to a worldwide marketplace. They primarily emphasize commercial and personal property and casualty reinsurance risks, and offer both broker-based and direct-writing distribution capabilities. PXRE also provides marine and aerospace reinsurance products and services. “
ARGO has been the topic of a number of other reports. Compass Point reiterated a “neutral” rating and set a $60.00 target price on shares of Argo Group International in a research note on Wednesday, April 28th. Boenning Scattergood reissued a “neutral” rating on shares of Argo Group International in a report on Monday, April 19th. Raymond James lifted their price objective on Argo Group International from $60.00 to $65.00 and gave the stock a “strong-buy” rating in a report on Wednesday, May 5th. Finally, HSBC lifted their price objective on Argo Group International to $10.25 and gave the stock a “buy” rating in a report on Monday, March 15th. Three equities research analysts have rated the stock with a hold rating, two have given a buy rating and one has given a strong buy rating to the stock. Argo Group International presently has a consensus rating of “Buy” and a consensus target price of $48.56.
NYSE:ARGO traded up $0.40 on Tuesday, reaching $53.16. 353 shares of the stock traded hands, compared to its average volume of 141,616. The stock has a market capitalization of $1.85 billion, a price-to-earnings ratio of -60.41 and a beta of 0.95. The firm has a 50 day moving average of $54.04. The company has a debt-to-equity ratio of 0.24, a current ratio of 0.52 and a quick ratio of 0.52. Argo Group International has a 1-year low of $31.01 and a 1-year high of $58.60.
Argo Group International (NYSE:ARGO) last announced its quarterly earnings data on Monday, May 3rd. The company reported $0.44 EPS for the quarter, topping the consensus estimate of ($0.02) by $0.46. Argo Group International had a negative net margin of 1.18% and a negative return on equity of 0.82%. The company had revenue of $510.50 million during the quarter, compared to the consensus estimate of $483.63 million. On average, sell-side analysts predict that Argo Group International will post 2.65 earnings per share for the current fiscal year.
A number of hedge funds have recently bought and sold shares of ARGO. Meeder Asset Management Inc. purchased a new position in shares of Argo Group International during the first quarter worth about $51,000. Arlington Partners LLC purchased a new position in shares of Argo Group International during the first quarter worth about $97,000. KBC Group NV purchased a new position in shares of Argo Group International during the fourth quarter worth about $104,000. Permanens Capital L.P. purchased a new position in shares of Argo Group International during the fourth quarter worth about $167,000. Finally, First Mercantile Trust Co. grew its holdings in shares of Argo Group International by 27.2% during the fourth quarter. First Mercantile Trust Co. now owns 4,287 shares of the company’s stock worth $188,000 after purchasing an additional 917 shares in the last quarter. 90.80% of the stock is owned by institutional investors and hedge funds.
About Argo Group International
Argo Group International Holdings, Ltd. underwrites specialty insurance and reinsurance products in the property and casualty markets. The company operates in two segments, U.S. Operations and International Operations. It offers primary and excess specialty casualty, contract liability, commercial multi-peril, product liability, environmental liability, and auto liability insurance products; workers compensation, general liability, auto liability, and various public entity liability risks; management liability, and errors and omissions liability; and surety and inland marine insurance products.
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