Fidelis Insurance (NYSE:PLGO) Upgraded by Zacks Research to Strong-Buy Rating

Zacks Research upgraded shares of Fidelis Insurance (NYSE:PLGO) from a strong sell rating to a strong-buy rating in a research note released on Thursday morning,Zacks.com reports.

Several other equities research analysts have also issued reports on PLGO. Barclays lifted their price target on Fidelis Insurance from $21.00 to $22.00 and gave the stock an “equal weight” rating in a research note on Friday, May 15th. JPMorgan Chase & Co. lifted their price target on Fidelis Insurance from $21.00 to $23.00 and gave the stock an “underweight” rating in a research note on Tuesday. Keefe, Bruyette & Woods lifted their price target on Fidelis Insurance from $26.50 to $28.00 and gave the stock an “outperform” rating in a research note on Friday, May 15th. Weiss Ratings began coverage on Fidelis Insurance in a research note on Wednesday, May 13th. They set a “buy (b)” rating for the company. Finally, Wall Street Zen upgraded 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 issued a Buy rating, one has given a Hold rating and one has assigned a Sell rating to the company. According to MarketBeat.com, the company has a consensus rating of “Moderate Buy” and an average price target of $24.33.

Fidelis Insurance Stock Down 0.6%

Shares of PLGO stock opened at $21.54 on Thursday. The company has a debt-to-equity ratio of 0.37, a current ratio of 0.70 and a quick ratio of 0.70. Fidelis Insurance has a 12-month low of $14.80 and a 12-month high of $24.06. The stock has a market cap of $1.86 billion, a price-to-earnings ratio of 5.76 and a beta of 0.36.

Fidelis Insurance (NYSE:PLGO) last issued its quarterly earnings results on Wednesday, May 13th. The company reported $0.94 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.75 by $0.19. Fidelis Insurance had a return on equity of 14.44% and a net margin of 15.33%.The firm had revenue of $612.20 million during the quarter, compared to analyst estimates of $577.19 million. On average, sell-side analysts forecast that Fidelis Insurance will post 3.78 EPS 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.