Crawford & Company (NYSE:CRD.B) Shares Break Above 200 Day Moving Average - What's Next?

Key Points

• Crawford & Company shares rose above their 200-day moving average of $10.85, reaching $12.04 before last trading at $11.8650.
• Zacks Research downgraded the stock from “strong buy” to “hold,” while the overall analyst consensus is also “Hold.” The company’s latest quarterly results beat EPS estimates ($0.38 versus $0.27), though revenue fell short of expectations.
• Insiders sold more than 1.02 million shares worth approximately $13.1 million over the past 90 days, including a 1-million-share sale by major shareholder Jesse C. Crawford.

Crawford & Company (NYSE:CRD.B - Get Free Report)'s share price passed above its two hundred day moving average during trading on Wednesday. The stock has a two hundred day moving average of $10.85 and traded as high as $12.04. Crawford & Company shares last traded at $11.8650, with a volume of 6,284 shares.

Analysts Set New Price Targets

Separately, Zacks Research cut shares of Crawford & Company from a "strong-buy" rating to a "hold" rating in a research note on Monday, October 5th. One investment analyst has rated the stock with a Hold rating. Based on data from MarketBeat, Crawford & Company currently has an average rating of "Hold".

Crawford & Company Price Performance

The company has a debt-to-equity ratio of 0.82, a quick ratio of 1.19 and a current ratio of 1.19. The company has a market cap of $576.76 million, a P/E ratio of 24.72 and a beta of 0.63. The firm's fifty day moving average is $12.03 and its two-hundred day moving average is $10.85.

Crawford & Company (NYSE:CRD.B - Get Free Report) last posted its quarterly earnings results on Monday, August 3rd. The business services provider reported $0.38 EPS for the quarter, beating analysts' consensus estimates of $0.27 by $0.11. The business had revenue of $321.44 million for the quarter, compared to analysts' expectations of $336.09 million. Crawford & Company had a return on equity of 28.15% and a net margin of 1.81%. As a group, analysts anticipate that Crawford & Company will post 1.05 earnings per share for the current fiscal year.

Insider Transactions at Crawford & Company

In other news, EVP Andrew Bart sold 10,118 shares of the company's stock in a transaction dated Friday, August 14th. The stock was sold at an average price of $13.17, for a total value of $133,254.06. Following the completion of the transaction, the executive vice president owned 101,277 shares of the company's stock, valued at $1,333,818.09. This represents a 9.08% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is available at this hyperlink. Also, major shareholder Jesse C. Crawford sold 1,000,000 shares of the stock in a transaction dated Monday, August 10th. The stock was sold at an average price of $12.81, for a total value of $12,810,000.00. Following the sale, the insider owned 4,447,188 shares of the company's stock, valued at $56,968,478.28. This represents a 18.36% decrease in their position. The SEC filing for this sale provides additional information. In the last ninety days, insiders sold 1,020,093 shares of company stock valued at $13,075,773. Corporate insiders own 51.04% of the company's stock.

Crawford & Company Company Profile

Crawford & Company is a global provider of independent claims management and related services for the insurance and risk-management industries. The company supports insurers, brokers, corporations and public entities throughout the life cycle of a claim, from initial reporting and investigation through evaluation, settlement and resolution.

Its services include property and casualty claims adjusting, workers' compensation administration, liability and automobile claims handling, catastrophe response, loss adjusting and third-party administration.

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