Ryan Specialty (NYSE:RYAN) Price Target Cut to $68.00 by Analysts at Bank of America

Key Points

• Bank of America cut its price target on Ryan Specialty from $70 to $68 but kept a "buy" rating, implying a potential upside of about 91.25% from the current share price.
• Analyst opinions are mixed: MarketBeat's consensus rating is "Hold" with an average target of $51.35, while other firms (UBS, Morgan Stanley, Zacks, Weiss) have recently lowered targets or downgraded the stock.
• Shares traded around $35.56 (down 0.8%), well below analyst targets; Director Patrick G. Ryan Jr. bought 25,500 shares recently, while the company shows high leverage (debt-to-equity ~2.62) and a high P/E (~84.6).

Ryan Specialty (NYSE:RYAN - Get Free Report) had its target price lowered by equities researchers at Bank of America from $70.00 to $68.00 in a research report issued on Tuesday,Benzinga reports. The firm currently has a "buy" rating on the stock. Bank of America's price objective indicates a potential upside of 91.25% from the stock's current price.

Other research analysts also recently issued reports about the company. Royal Bank Of Canada started coverage on Ryan Specialty in a research note on Tuesday, March 17th. They set an "outperform" rating and a $45.00 target price for the company. Zacks Research downgraded shares of Ryan Specialty from a "hold" rating to a "strong sell" rating in a report on Tuesday, February 24th. Weiss Ratings cut Ryan Specialty from a "hold (c-)" rating to a "sell (d+)" rating in a report on Thursday, February 5th. UBS Group decreased their price target on shares of Ryan Specialty from $65.00 to $59.00 and set a "buy" rating on the stock in a research note on Wednesday, April 8th. Finally, Morgan Stanley dropped their price objective on Ryan Specialty from $55.00 to $50.00 and set an "overweight" rating for the company in a report on Monday, April 6th. One analyst has rated the stock with a Strong Buy rating, ten have given a Buy rating, five have assigned a Hold rating and three have given a Sell rating to the stock. Based on data from MarketBeat, the company presently has a consensus rating of "Hold" and an average target price of $51.35.

Ryan Specialty Trading Down 0.8%

Shares of NYSE RYAN traded down $0.30 during midday trading on Tuesday, reaching $35.56. 540,212 shares of the stock were exchanged, compared to its average volume of 2,052,463. Ryan Specialty has a 12 month low of $31.50 and a 12 month high of $75.26. The business has a 50-day simple moving average of $37.97 and a two-hundred day simple moving average of $48.18. The company has a market capitalization of $9.39 billion, a price-to-earnings ratio of 84.64, a P/E/G ratio of 0.92 and a beta of 0.71. The company has a debt-to-equity ratio of 2.62, a current ratio of 0.98 and a quick ratio of 0.98.

Ryan Specialty (NYSE:RYAN - Get Free Report) last issued its quarterly earnings data on Thursday, February 12th. The company reported $0.45 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.50 by ($0.05). Ryan Specialty had a return on equity of 46.41% and a net margin of 7.02%.The company had revenue of $751.21 million for the quarter, compared to the consensus estimate of $777.43 million. During the same period in the prior year, the company earned $0.45 EPS. The firm's revenue was up 13.2% on a year-over-year basis. As a group, equities research analysts expect that Ryan Specialty will post 2.29 EPS for the current year.

Insider Buying and Selling

In related news, Director Patrick G. Ryan, Jr. purchased 25,500 shares of the firm's stock in a transaction dated Monday, February 23rd. The stock was bought at an average price of $39.96 per share, for a total transaction of $1,018,980.00. Following the purchase, the director owned 428,295 shares in the company, valued at $17,114,668.20. The trade was a 6.33% increase in their position. The transaction was disclosed in a filing with the SEC, which can be accessed through this link. 52.03% of the stock is owned by insiders.

Institutional Inflows and Outflows

Several large investors have recently bought and sold shares of RYAN. Los Angeles Capital Management LLC acquired a new position in Ryan Specialty during the fourth quarter valued at approximately $25,000. Advisory Services Network LLC bought a new stake in shares of Ryan Specialty in the third quarter worth $28,000. SBI Securities Co. Ltd. boosted its stake in shares of Ryan Specialty by 6,322.2% during the 4th quarter. SBI Securities Co. Ltd. now owns 578 shares of the company's stock worth $30,000 after buying an additional 569 shares during the last quarter. Fifth Third Bancorp boosted its position in Ryan Specialty by 65.4% during the third quarter. Fifth Third Bancorp now owns 612 shares of the company's stock valued at $34,000 after purchasing an additional 242 shares during the last quarter. Finally, Whittier Trust Co. of Nevada Inc. increased its holdings in Ryan Specialty by 83.7% during the third quarter. Whittier Trust Co. of Nevada Inc. now owns 599 shares of the company's stock worth $35,000 after buying an additional 273 shares during the last quarter. Institutional investors and hedge funds own 84.82% of the company's stock.

About Ryan Specialty

Ryan Specialty Group, Inc NYSE: RYAN is a global specialty insurance and reinsurance platform that partners with a network of insurers and reinsurers to deliver tailored risk solutions. The company focuses on complex and large-scale risks across multiple industry sectors, leveraging its underwriting expertise to structure coverage programs that meet clients' unique needs.

Ryan Specialty's core offerings span a diverse range of specialty lines, including casualty, property, professional liability, marine and energy, program administration, and sports and entertainment.

This instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest reporting and unbiased coverage. Please send any questions or comments about this story to contact@marketbeat.com.