Ryan Specialty (NYSE:RYAN) Price Target Increased to $63.00 by Analysts at Wells Fargo & Company

Ryan Specialty (NYSE:RYAN) had its target price hoisted by equities researchers at Wells Fargo & Company from $60.00 to $63.00 in a research note issued to investors on Friday, Benzinga reports. The brokerage currently has an “equal weight” rating on the stock. Wells Fargo & Company‘s target price points to a potential downside of 7.24% from the stock’s previous close.

RYAN has been the subject of a number of other research reports. JMP Securities reissued a “market perform” rating on shares of Ryan Specialty in a research report on Monday, April 15th. UBS Group raised their target price on Ryan Specialty from $63.00 to $67.00 and gave the company a “buy” rating in a report on Tuesday, July 9th. Citigroup raised their price objective on shares of Ryan Specialty from $56.00 to $62.00 and gave the stock a “neutral” rating in a report on Tuesday, July 23rd. Keefe, Bruyette & Woods reiterated an “outperform” rating and issued a $62.00 price objective on shares of Ryan Specialty in a research note on Tuesday, July 2nd. Finally, Bank of America began coverage on Ryan Specialty in a research report on Wednesday, May 22nd. They set a “buy” rating and a $67.00 target price on the stock. One investment analyst has rated the stock with a sell rating, six have assigned a hold rating and four have issued a buy rating to the company’s stock. According to data from MarketBeat, the stock presently has an average rating of “Hold” and a consensus target price of $58.80.

Ryan Specialty Price Performance

Shares of NYSE:RYAN traded up $5.41 during trading on Friday, reaching $67.92. 1,336,430 shares of the company traded hands, compared to its average volume of 900,982. Ryan Specialty has a 52 week low of $41.49 and a 52 week high of $68.02. The company’s 50 day moving average is $56.91 and its two-hundred day moving average is $52.43. The company has a quick ratio of 1.15, a current ratio of 1.15 and a debt-to-equity ratio of 1.99. The firm has a market capitalization of $17.69 billion, a PE ratio of 127.40, a PEG ratio of 1.60 and a beta of 0.62.

Ryan Specialty (NYSE:RYAN) last released its quarterly earnings data on Thursday, August 1st. The company reported $0.58 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.57 by $0.01. Ryan Specialty had a net margin of 9.15% and a return on equity of 45.87%. The firm had revenue of $695.40 million for the quarter, compared to analysts’ expectations of $695.56 million. During the same quarter in the previous year, the company earned $0.45 earnings per share. The company’s revenue for the quarter was up 18.9% compared to the same quarter last year. As a group, sell-side analysts predict that Ryan Specialty will post 1.77 earnings per share for the current year.

Institutional Trading of Ryan Specialty

Institutional investors and hedge funds have recently bought and sold shares of the stock. GAMMA Investing LLC raised its position in shares of Ryan Specialty by 96.4% in the 2nd quarter. GAMMA Investing LLC now owns 605 shares of the company’s stock valued at $35,000 after purchasing an additional 297 shares in the last quarter. Crewe Advisors LLC acquired a new stake in Ryan Specialty during the second quarter valued at approximately $39,000. Parkside Financial Bank & Trust increased its holdings in shares of Ryan Specialty by 1,283.6% in the fourth quarter. Parkside Financial Bank & Trust now owns 1,010 shares of the company’s stock valued at $43,000 after purchasing an additional 937 shares in the last quarter. Intelligent Financial Strategies acquired a new stake in Ryan Specialty during the 1st quarter worth $44,000. Finally, Benjamin F. Edwards & Company Inc. acquired a new position in Ryan Specialty during the first quarter worth $45,000. 84.82% of the stock is currently owned by hedge funds and other institutional investors.

About Ryan Specialty

Ryan Specialty Holdings, Inc operates as a service provider of specialty products and solutions for insurance brokers, agents, and carriers in the United States, Canada, the United Kingdom, Europe, and Singapore. It offers distribution, underwriting, product development, administration, and risk management services by acting as a wholesale broker and a managing underwriter.