Morgan Stanley Cuts Ryan Specialty (NYSE:RYAN) Price Target to $71.00

Key Points

• Morgan Stanley has lowered its price target on Ryan Specialty from $78 to $71, indicating a potential upside of 20.33% from its current price despite maintaining an "overweight" rating on the stock.
• Several analysts have varying ratings on Ryan Specialty, with Goldman Sachs upgrading it to "buy" with a target price of $81, while Wells Fargo reduced its target from $63 to $60.
• Ryan Specialty's stock recently traded at $59.01, reflecting a 0.9% increase, while the company reported a revenue increase of 23% year-over-year, with earnings per share meeting analysts' expectations.

Ryan Specialty (NYSE:RYAN - Get Free Report) had its price objective lowered by analysts at Morgan Stanley from $78.00 to $71.00 in a research note issued on Friday,Benzinga reports. The firm presently has an "overweight" rating on the stock. Morgan Stanley's price objective would indicate a potential upside of 20.33% from the company's current price.

Several other analysts also recently weighed in on RYAN. Wall Street Zen raised Ryan Specialty from a "sell" rating to a "hold" rating in a research note on Sunday, August 3rd. The Goldman Sachs Group raised Ryan Specialty from a "neutral" rating to a "buy" rating and lifted their target price for the company from $74.00 to $81.00 in a research note on Tuesday, May 13th. TD Cowen initiated coverage on Ryan Specialty in a research note on Thursday, April 10th. They set a "buy" rating and a $89.00 target price on the stock. Wells Fargo & Company lowered their price target on Ryan Specialty from $63.00 to $60.00 and set an "equal weight" rating on the stock in a research report on Friday, August 1st. Finally, Barclays lowered their price target on Ryan Specialty from $83.00 to $79.00 and set an "overweight" rating on the stock in a research report on Monday, July 7th. Three analysts have rated the stock with a hold rating and eight have issued a buy rating to the company. According to data from MarketBeat.com, the stock has a consensus rating of "Moderate Buy" and an average target price of $76.60.

Ryan Specialty Stock Up 0.9%

RYAN stock traded up $0.52 during mid-day trading on Friday, reaching $59.01. The company had a trading volume of 509,025 shares, compared to its average volume of 1,072,179. The company has a debt-to-equity ratio of 2.88, a quick ratio of 1.01 and a current ratio of 1.01. Ryan Specialty has a fifty-two week low of $55.77 and a fifty-two week high of $77.16. The company has a market capitalization of $15.48 billion, a price-to-earnings ratio of 168.56, a price-to-earnings-growth ratio of 1.69 and a beta of 0.64. The firm has a fifty day simple moving average of $65.30 and a 200 day simple moving average of $67.95.

Ryan Specialty (NYSE:RYAN - Get Free Report) last released its earnings results on Thursday, July 31st. The company reported $0.66 earnings per share (EPS) for the quarter, meeting analysts' consensus estimates of $0.66. Ryan Specialty had a return on equity of 48.70% and a net margin of 6.81%. The business had revenue of $855.17 million for the quarter, compared to analyst estimates of $837.52 million. During the same quarter in the previous year, the company posted $0.58 earnings per share. The company's revenue for the quarter was up 23.0% compared to the same quarter last year. Analysts forecast that Ryan Specialty will post 2.29 earnings per share for the current fiscal year.

Insider Buying and Selling

In other news, EVP Mark Stephen Katz sold 14,377 shares of the stock in a transaction on Friday, June 13th. The shares were sold at an average price of $65.84, for a total value of $946,581.68. Following the transaction, the executive vice president owned 1,117 shares of the company's stock, valued at $73,543.28. This represents a 92.79% decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at this link. Also, Director David P. Bolger sold 5,000 shares of the stock in a transaction on Tuesday, June 3rd. The stock was sold at an average price of $70.80, for a total transaction of $354,000.00. Following the completion of the transaction, the director directly owned 71,467 shares in the company, valued at $5,059,863.60. The trade was a 6.54% decrease in their position. The disclosure for this sale can be found here. Corporate insiders own 52.21% of the company's stock.

Institutional Investors Weigh In On Ryan Specialty

A number of large investors have recently added to or reduced their stakes in the company. GAMMA Investing LLC increased its holdings in Ryan Specialty by 21.8% in the 1st quarter. GAMMA Investing LLC now owns 2,101 shares of the company's stock valued at $155,000 after acquiring an additional 376 shares during the last quarter. Wealth Enhancement Advisory Services LLC raised its stake in shares of Ryan Specialty by 3.9% during the 1st quarter. Wealth Enhancement Advisory Services LLC now owns 12,215 shares of the company's stock worth $902,000 after acquiring an additional 460 shares in the last quarter. Wealth Alliance LLC purchased a new stake in Ryan Specialty during the 1st quarter worth approximately $303,000. Universal Beteiligungs und Servicegesellschaft mbH purchased a new stake in Ryan Specialty during the first quarter worth $1,927,000. Finally, Sumitomo Life Insurance Co. purchased a new stake in Ryan Specialty during the first quarter worth $1,056,000. Institutional investors own 84.82% of the company's stock.

Ryan Specialty Company Profile

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.

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