Morgan Stanley Forecasts Strong Price Appreciation for Ryan Specialty (NYSE:RYAN) Stock

Ryan Specialty (NYSE:RYAN) had its price objective increased by analysts at Morgan Stanley from $78.00 to $80.00 in a report released on Monday,Benzinga reports. The firm presently has an “overweight” rating on the stock. Morgan Stanley’s price target indicates a potential upside of 13.31% from the company’s current price.

RYAN has been the topic of several other research reports. UBS Group raised their price objective on shares of Ryan Specialty from $82.00 to $84.00 and gave the stock a “buy” rating in a research note on Wednesday, February 26th. The Goldman Sachs Group upgraded shares of Ryan Specialty from a “neutral” rating to a “buy” rating and lifted their target price for the company from $74.00 to $81.00 in a research report on Tuesday, May 13th. Royal Bank of Canada reduced their target price on shares of Ryan Specialty from $73.00 to $72.00 and set a “sector perform” rating on the stock in a research note on Friday, February 21st. Barclays reduced their target price on shares of Ryan Specialty from $88.00 to $83.00 and set an “overweight” rating on the stock in a research note on Friday, April 11th. Finally, Keefe, Bruyette & Woods cut their price target on Ryan Specialty from $76.00 to $75.00 and set an “outperform” rating for the company in a report on Wednesday, April 9th. One equities research analyst has rated the stock with a sell rating, three have given a hold rating and eight have issued a buy rating to the company’s stock. According to data from MarketBeat, the stock presently has an average rating of “Moderate Buy” and an average target price of $75.58.

Ryan Specialty Price Performance

Shares of RYAN opened at $70.60 on Monday. The firm has a market cap of $18.53 billion, a PE ratio of 102.32, a PEG ratio of 1.19 and a beta of 0.68. The firm’s 50 day moving average price is $70.22 and its 200 day moving average price is $68.78. The company has a debt-to-equity ratio of 2.40, a quick ratio of 1.01 and a current ratio of 1.01. Ryan Specialty has a twelve month low of $52.34 and a twelve month high of $77.16.

Ryan Specialty (NYSE:RYAN) last released its quarterly earnings results on Thursday, May 1st. The company reported $0.39 EPS for the quarter, meeting analysts’ consensus estimates of $0.39. Ryan Specialty had a net margin of 9.14% and a return on equity of 48.01%. The company had revenue of $690.17 million for the quarter, compared to analyst estimates of $680.80 million. During the same quarter last year, the firm posted $0.35 earnings per share. The company’s quarterly revenue was up 25.0% compared to the same quarter last year. As a group, research analysts expect that Ryan Specialty will post 2.29 EPS for the current fiscal year.

Insider Buying and Selling

In other Ryan Specialty news, EVP Brendan Martin Mulshine sold 30,000 shares of the company’s stock in a transaction that occurred on Friday, March 14th. The stock was sold at an average price of $69.30, for a total transaction of $2,079,000.00. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at the SEC website. 11.10% of the stock is owned by company insiders.

Institutional Investors Weigh In On Ryan Specialty

Several hedge funds have recently added to or reduced their stakes in RYAN. Mariner LLC boosted its stake in shares of Ryan Specialty by 3.4% during the fourth quarter. Mariner LLC now owns 5,278 shares of the company’s stock valued at $339,000 after purchasing an additional 172 shares in the last quarter. Sanctuary Advisors LLC boosted its stake in shares of Ryan Specialty by 1.2% during the fourth quarter. Sanctuary Advisors LLC now owns 15,690 shares of the company’s stock valued at $1,045,000 after purchasing an additional 188 shares in the last quarter. State of Alaska Department of Revenue boosted its stake in shares of Ryan Specialty by 1.6% during the fourth quarter. State of Alaska Department of Revenue now owns 12,130 shares of the company’s stock valued at $778,000 after purchasing an additional 190 shares in the last quarter. CIBC Asset Management Inc boosted its stake in shares of Ryan Specialty by 5.6% during the fourth quarter. CIBC Asset Management Inc now owns 3,674 shares of the company’s stock valued at $236,000 after purchasing an additional 196 shares in the last quarter. Finally, Crossmark Global Holdings Inc. boosted its stake in shares of Ryan Specialty by 2.9% during the first quarter. Crossmark Global Holdings Inc. now owns 7,351 shares of the company’s stock valued at $543,000 after purchasing an additional 207 shares in the last quarter. Institutional investors and hedge funds own 84.82% of the company’s stock.

Ryan Specialty Company Profile

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.