Bank of America Securities analyst Joshua Shanker reiterated a Buy rating on Ryan Specialty Group (RYAN – Research Report) yesterday and set a price target of $92.00.
Discover the Best Stocks and Maximize Your Portfolio:
- See what stocks are receiving strong buy ratings from top-rated analysts.
- Filter, analyze, and streamline your search for investment opportunities with TipRanks’ Stock Screener.
Joshua Shanker has given his Buy rating due to a combination of factors including Ryan Specialty Group’s strong financial performance and favorable market conditions. Despite slightly lower-than-expected earnings and operating margins, the company showed a significant year-over-year increase in adjusted EBITDAC margins, indicating operational improvements.
Moreover, Shanker anticipates that Ryan Specialty Group will experience improved organic growth in the coming year due to more stable catastrophe trends and successful integration of recent acquisitions. Although there are some headwinds expected from lower fiduciary investment income and higher general and administrative expenses, the analyst remains optimistic about the company’s ability to meet its growth targets. The positive outlook and the potential for significant upside from the current stock price to the target price of $92 reinforce the Buy recommendation.
In another report released today, KBW also maintained a Buy rating on the stock with a $76.00 price target.
Based on the recent corporate insider activity of 40 insiders, corporate insider sentiment is negative on the stock. This means that over the past quarter there has been an increase of insiders selling their shares of RYAN in relation to earlier this year.