Zacks Research Upgrades Fidelis Insurance (NYSE:PLGO) to “Strong-Buy”

Fidelis Insurance (NYSE:PLGO) was upgraded by investment analysts at Zacks Research from a “strong sell” rating to a “strong-buy” rating in a research report issued to clients and investors on Thursday,Zacks.com reports.

PLGO has been the subject of several other research reports. Weiss Ratings started coverage on shares of Fidelis Insurance in a research report on Wednesday, May 13th. They issued a “buy (b)” rating for the company. JPMorgan Chase & Co. lifted their price target on shares of Fidelis Insurance from $21.00 to $23.00 and gave the company an “underweight” rating in a research report on Tuesday. Barclays lifted their price objective on shares of Fidelis Insurance from $21.00 to $22.00 and gave the stock an “equal weight” rating in a report on Friday, May 15th. Keefe, Bruyette & Woods lifted their price objective on shares of Fidelis Insurance from $26.50 to $28.00 and gave the stock an “outperform” rating in a report on Friday, May 15th. Finally, Wall Street Zen raised shares of Fidelis Insurance from a “hold” rating to a “buy” rating in a report on Saturday, May 16th. One analyst has rated the stock with a Strong Buy rating, two have given a Buy rating, one has given a Hold rating and one has assigned a Sell rating to the stock. According to data from MarketBeat, the stock presently has an average rating of “Moderate Buy” and an average price target of $24.33.

Fidelis Insurance Price Performance

NYSE PLGO opened at $21.54 on Thursday. Fidelis Insurance has a 12-month low of $14.80 and a 12-month high of $24.06. The company has a debt-to-equity ratio of 0.37, a current ratio of 0.70 and a quick ratio of 0.70. The firm has a market capitalization of $1.86 billion, a P/E ratio of 5.76 and a beta of 0.36.

Fidelis Insurance (NYSE:PLGO) last posted its quarterly earnings results on Wednesday, May 13th. The company reported $0.94 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.75 by $0.19. Fidelis Insurance had a net margin of 15.33% and a return on equity of 14.44%. The business had revenue of $612.20 million during the quarter, compared to the consensus estimate of $577.19 million. On average, equities analysts expect that Fidelis Insurance will post 3.78 earnings per share for the current year.

Fidelis Insurance Company Profile

Fidelis is a leading global provider of bespoke and specialty insurance and reinsurance products. We believe our differentiated underwriting positions us well to generate strong returns across (re)insurance cycles. Current Fidelis is led by Mr. Daniel Burrows who has more than 35 years of experience in the insurance industry and is supported by a highly experienced management team that manages the operations of Current Fidelis based on our founding principles. Following the Separation Transactions, Current Fidelis is positioned as a global, specialty insurance provider with exclusive right of first access to Fidelis MGU’s underwriting business during the term of the Framework Agreement.