Ryan Specialty (NYSE:RYAN) Stock Rating Upgraded by Wall Street Zen

Key Points

• Ryan Specialty has been upgraded from a "sell" to a "hold" rating by analysts at Wall Street Zen.
• Goldman Sachs upgraded Ryan Specialty to a "buy" rating and increased the target price from $74.00 to $81.00, while other analysts have altered their price targets, reflecting mixed sentiments.
• Ryan Specialty reported a 23.0% increase in revenue year-over-year, achieving $855.17 million in sales and matching EPS estimates of $0.66 for the last quarter.

Ryan Specialty (NYSE:RYAN - Get Free Report) was upgraded by investment analysts at Wall Street Zen from a "sell" rating to a "hold" rating in a report issued on Sunday.

A number of other brokerages also recently commented on RYAN. The Goldman Sachs Group raised shares of Ryan Specialty from a "neutral" rating to a "buy" rating and raised their target price for the company from $74.00 to $81.00 in a research note on Tuesday, May 13th. Morgan Stanley cut their target price on shares of Ryan Specialty from $80.00 to $78.00 and set an "overweight" rating on the stock in a research note on Monday, July 14th. Barclays cut their target price on shares of Ryan Specialty from $83.00 to $79.00 and set an "overweight" rating on the stock in a research note on Monday, July 7th. Keefe, Bruyette & Woods cut their target price on shares of Ryan Specialty from $76.00 to $75.00 and set an "outperform" rating on the stock in a research note on Wednesday, April 9th. Finally, Wells Fargo & Company cut their target price on shares of Ryan Specialty from $63.00 to $60.00 and set an "equal weight" rating on the stock in a research note on Friday. Three investment analysts have rated the stock with a hold rating and eight have given a buy rating to the stock. Based on data from MarketBeat.com, Ryan Specialty currently has an average rating of "Moderate Buy" and a consensus price target of $77.70.

Ryan Specialty Stock Down 5.3%

Shares of RYAN opened at $57.97 on Friday. The firm has a market cap of $15.21 billion, a PE ratio of 165.63, a price-to-earnings-growth ratio of 1.56 and a beta of 0.64. The company's fifty day moving average is $66.47 and its two-hundred day moving average is $68.21. Ryan Specialty has a fifty-two week low of $55.77 and a fifty-two week high of $77.16. The company has a quick ratio of 1.05, a current ratio of 1.05 and a debt-to-equity ratio of 3.45.

Ryan Specialty (NYSE:RYAN - Get Free Report) last issued its earnings results on Thursday, July 31st. The company reported $0.66 EPS for the quarter, meeting analysts' consensus estimates of $0.66. Ryan Specialty had a net margin of 6.81% and a return on equity of 49.78%. The business had revenue of $855.17 million for the quarter, compared to the consensus estimate of $837.52 million. During the same quarter last year, the firm posted $0.58 EPS. The business'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 year.

Insider Activity

In other news, EVP Mark Stephen Katz sold 14,377 shares of the business's stock in a transaction dated Friday, June 13th. The shares were sold at an average price of $65.84, for a total value of $946,581.68. Following the completion of the sale, the executive vice president owned 1,117 shares of the company's stock, valued at approximately $73,543.28. The trade was a 92.79% decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. Also, Director David P. Bolger sold 5,000 shares of the business's stock in a transaction dated 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 sale, the director directly owned 71,467 shares of the company's stock, 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. 52.21% of the stock is currently owned by insiders.

Institutional Investors Weigh In On Ryan Specialty

Hedge funds and other institutional investors have recently modified their holdings of the stock. Mariner LLC boosted its holdings in shares of Ryan Specialty by 3.4% in the 4th quarter. Mariner LLC now owns 5,278 shares of the company's stock valued at $339,000 after buying an additional 172 shares during the period. Crossmark Global Holdings Inc. boosted its holdings in shares of Ryan Specialty by 2.9% in the 1st quarter. Crossmark Global Holdings Inc. now owns 7,351 shares of the company's stock valued at $543,000 after buying an additional 207 shares during the period. Whittier Trust Co. of Nevada Inc. boosted its holdings in shares of Ryan Specialty by 281.6% in the 1st quarter. Whittier Trust Co. of Nevada Inc. now owns 332 shares of the company's stock valued at $25,000 after buying an additional 245 shares during the period. Wallace Advisory Group LLC boosted its holdings in shares of Ryan Specialty by 5.8% in the 2nd quarter. Wallace Advisory Group LLC now owns 4,837 shares of the company's stock valued at $357,000 after buying an additional 267 shares during the period. Finally, UMB Bank n.a. boosted its holdings in shares of Ryan Specialty by 5.0% in the 1st quarter. UMB Bank n.a. now owns 5,797 shares of the company's stock valued at $428,000 after buying an additional 275 shares during the period. Institutional investors own 84.82% of the company's stock.

About Ryan Specialty

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.

This instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest and most accurate reporting. This story was reviewed by MarketBeat's editorial team prior to publication. Please send any questions or comments about this story to contact@marketbeat.com.