Hagerty (NYSE:HGTY) Given New $17.00 Price Target at Wells Fargo & Company

Key Points

• Wells Fargo raised its Hagerty price target from $14 to $17 but maintained an “equal weight” rating; its target implies about 3% downside from the share price cited in the report.
• Analyst views remain mixed: MarketBeat reported an overall “Hold” consensus and a $16 average price target, while Citizens JMP set a $19 target and Oppenheimer reaffirmed an “outperform” rating.
• Hagerty beat quarterly expectations, reporting EPS of $0.10 versus a $0.01 consensus and revenue of $354.24 million versus expectations of about $339 million.

Hagerty (NYSE:HGTY - Get Free Report) had its target price increased by stock analysts at Wells Fargo & Company from $14.00 to $17.00 in a research report issued to clients and investors on Wednesday, Benzinga reports. The firm presently has an "equal weight" rating on the stock. Wells Fargo & Company's price target suggests a potential downside of 3.07% from the company's current price.

HGTY has been the topic of a number of other reports. Oppenheimer reaffirmed an "outperform" rating and issued a $20.00 price target on shares of Hagerty in a research note on Tuesday. Weiss Ratings upgraded shares of Hagerty from a "hold (c-)" rating to a "hold (c)" rating in a research report on Tuesday, August 11th. Citizens Jmp increased their target price on shares of Hagerty from $15.00 to $19.00 and gave the stock a "market outperform" rating in a report on Wednesday. Zacks Research downgraded shares of Hagerty from a "strong-buy" rating to a "hold" rating in a research note on Monday, October 19th. Finally, Keefe, Bruyette & Woods increased their target price on Hagerty from $15.00 to $16.00 and gave the stock an "outperform" rating in a research report on Tuesday, August 11th. Three equities research analysts have rated the stock with a Buy rating and five have assigned a Hold rating to the company. According to data from MarketBeat, the company presently has an average rating of "Hold" and a consensus price target of $16.00.

Hagerty Stock Performance

Shares of HGTY stock traded up $0.51 during trading hours on Wednesday, hitting $17.54. 39,628 shares of the company were exchanged, compared to its average volume of 228,246. The company has a current ratio of 1.53, a quick ratio of 1.53 and a debt-to-equity ratio of 0.33. The stock has a market capitalization of $6.03 billion, a price-to-earnings ratio of 193.61 and a beta of 0.83. Hagerty has a 52-week low of $9.36 and a 52-week high of $17.40. The firm has a fifty day simple moving average of $14.26 and a 200 day simple moving average of $12.10.

Hagerty (NYSE:HGTY - Get Free Report) last announced its quarterly earnings results on Tuesday, November 3rd. The company reported $0.10 earnings per share for the quarter, beating the consensus estimate of $0.01 by $0.09. The company had revenue of $354.24 million during the quarter, compared to analysts' expectations of $338.99 million. Hagerty had a return on equity of 5.15% and a net margin of 1.81%. Research analysts predict that Hagerty will post 0.01 earnings per share for the current fiscal year.

Insider Activity at Hagerty

In other news, major shareholder Holding Corp. Hagerty sold 9,250,000 shares of the business's stock in a transaction on Wednesday, September 9th. The shares were sold at an average price of $11.47, for a total value of $106,097,500.00. Following the transaction, the insider owned 9,250,000 shares of the company's stock, valued at approximately $106,097,500. The trade was a 50.00% decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. 3.70% of the stock is owned by insiders.

Institutional Inflows and Outflows

Several hedge funds and other institutional investors have recently bought and sold shares of the company. Lincoln Capital LLC increased its position in shares of Hagerty by 38.7% during the third quarter. Lincoln Capital LLC now owns 1,350,809 shares of the company's stock worth $18,209,000 after purchasing an additional 377,158 shares in the last quarter. Dimensional Fund Advisors LP raised its holdings in Hagerty by 49.5% during the first quarter. Dimensional Fund Advisors LP now owns 271,346 shares of the company's stock worth $2,857,000 after purchasing an additional 89,898 shares in the last quarter. Renaissance Technologies LLC increased its position in Hagerty by 79.2% during the first quarter. Renaissance Technologies LLC now owns 157,668 shares of the company's stock worth $1,660,000 after buying an additional 69,700 shares during the period. E. Ohman J or Asset Management AB lifted its holdings in shares of Hagerty by 4.2% during the third quarter. E. Ohman J or Asset Management AB now owns 48,047 shares of the company's stock worth $647,000 after purchasing an additional 1,941 shares during the period. Finally, Bank of New York Mellon Corp raised its position in Hagerty by 3.1% in the first quarter. Bank of New York Mellon Corp now owns 39,730 shares of the company's stock worth $418,000 after acquiring an additional 1,209 shares in the last quarter. Institutional investors own 20.51% of the company's stock.

Trending Headlines about Hagerty

Here are the key news stories impacting Hagerty this week:

• Positive Sentiment: Citizens JMP raised its price target on HGTY from $15 to $19 and assigned a “market outperform” rating, signaling confidence in further upside. Citizens JMP rating information
• Positive Sentiment: Third-quarter adjusted EPS was $0.10, well above the $0.01 consensus estimate. Revenue of $354.24 million also exceeded analysts’ expectations of about $339 million. Hagerty Q3 results
• Positive Sentiment: Hagerty raised its 2026 profit outlook, projecting net income of $48 million to $60 million and adjusted EBITDA of $305 million to $315 million. Year-to-date adjusted EBITDA rose 43% to $257 million, while operating cash flow increased 48% to $280 million. Hagerty raises 2026 outlook
• Positive Sentiment: Underlying business growth was strong: written premium increased 18% year over year, and Hagerty added 402,000 members in the first nine months, with policy-in-force growth of 18%. Hagerty long-term takeaways
• Neutral Sentiment: Broad Arrow, Hagerty’s collector-car auction business, reported a record $92.8 million Las Vegas sale, with 76% of lots sold. The result points to activity in the collector-car market, though its direct near-term effect on earnings is unclear. Broad Arrow auction results
• Negative Sentiment: Reported revenue was lower year over year, and year-to-date net income fell to $32 million from $121 million. Hagerty attributed pressure in reported results to $189 million in pre-tax transitional costs related to its Markel fronting arrangement; adjusted profitability and operating metrics improved. Hagerty financial results and outlook

Hagerty Company Profile

Hagerty, Inc is an automotive lifestyle and insurance company focused on enthusiasts and owners of classic, collector and specialty vehicles. The company provides insurance brokerage and related services designed for collector vehicles, with coverage generally underwritten by third-party insurance carriers.

In addition to insurance, Hagerty offers vehicle valuation and pricing information, membership programs, editorial content, events and enthusiast-focused digital services. Its offerings include Hagerty Drivers Club, Hagerty Valuations and Hagerty Marketplace, which connects buyers and sellers of collectible vehicles.

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