Lancashire (LON:LRE) Downgraded to Underperform Rating by Royal Bank Of Canada

Key Points

• Royal Bank Of Canada has downgraded Lancashire's stock to an "underperform" rating, setting a new target price of GBX 600, which represents a potential downside of 8.95% from its previous close.
• Other analysts have mixed views on Lancashire, with ratings ranging from "buy" to "hold," resulting in an average price target of GBX 652.75.
• Following the downgrade, Lancashire's stock declined by 3.5%, with a market cap of £1.59 billion and significant insider purchasing activity.

Lancashire (LON:LRE - Get Free Report) was downgraded by research analysts at Royal Bank Of Canada to an "underperform" rating in a report issued on Tuesday,London Stock Exchange reports. They currently have a GBX 600 target price on the stock, down from their previous target price of GBX 750. Royal Bank Of Canada's price target would suggest a potential downside of 8.95% from the stock's previous close.

Other analysts have also recently issued research reports about the stock. Peel Hunt cut shares of Lancashire to a "hold" rating and increased their price objective for the stock from GBX 630 to GBX 645 in a report on Thursday, August 21st. Citigroup raised their target price on shares of Lancashire from GBX 656 to GBX 696 and gave the company a "buy" rating in a research note on Wednesday, August 13th. Berenberg Bank reissued a "hold" rating and set a GBX 670 target price on shares of Lancashire in a research note on Thursday, August 7th. Finally, JPMorgan Chase & Co. reissued a "neutral" rating on shares of Lancashire in a research note on Friday, July 18th. One equities research analyst has rated the stock with a Buy rating, three have issued a Hold rating and one has assigned a Sell rating to the company. According to MarketBeat.com, the company presently has an average rating of "Hold" and an average price target of GBX 652.75.

Lancashire Stock Down 3.5%

LRE stock opened at GBX 659 on Tuesday. The company has a quick ratio of 1.18, a current ratio of 33.62 and a debt-to-equity ratio of 31.26. Lancashire has a fifty-two week low of GBX 505 and a fifty-two week high of GBX 700. The firm's 50-day simple moving average is GBX 633.50 and its 200 day simple moving average is GBX 603.48. The stock has a market cap of £1.59 billion, a PE ratio of 716.30, a price-to-earnings-growth ratio of 0.21 and a beta of 0.62.

Insider Activity

In other Lancashire news, insider Bryan Joseph acquired 1,200 shares of Lancashire stock in a transaction dated Friday, August 15th. The stock was bought at an average price of GBX 609 per share, for a total transaction of £7,308. Also, insider Philip Broadley acquired 4,700 shares of Lancashire stock in a transaction dated Thursday, September 18th. The shares were acquired at an average price of GBX 637 per share, with a total value of £29,939. 4.61% of the stock is currently owned by company insiders.

About Lancashire

Lancashire Holdings Limited, together with its subsidiaries, provides specialty insurance and reinsurance products in London, Bermuda, Australia, and the United States. The company operates through two segments, Reinsurance and Insurance. It offers property direct and facultative, property political risk and sovereign risk, and property terrorism and political violence insurance products; and aviation AV52, aviation consortium, airline hull and liability, and satellite insurance products.

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