Berenberg Bank cuts Admiral Group (LON:ADM) price target to 2,903 GBX

Admiral Group (LON:ADM – Get a rating) saw its price target lowered by Berenberg Bank equity researchers from 3,462 GBX ($41.92) to 2,903 GBX ($35.15) in a research note released on Thursday, Marketbeat Ratings reports. The company currently has a “buy” rating on the stock. Berenberg Bank’s target price indicates upside potential of 23.86% from the company’s previous close.

ADM has been the subject of a number of other reports. Deutsche Bank Aktiengesellschaft cut its price target on Admiral Group shares from 2,950 GBX ($35.72) to 2,630 GBX ($31.85) and set a “hold” rating on the stock in a report on Wednesday, March 16. Barclays reiterated an “overweight” rating on Admiral Group shares in a Wednesday May 4 report. Finally, Morgan Stanley cut its price target on Admiral Group shares from 2,900 GBX ($35.12) to 2,600 GBX ($31.48) and set an “underweight” rating on the action in a report on Tuesday, April 5. Three investment analysts gave the stock a sell rating, two gave the company a hold rating and two gave the company a buy rating. According to MarketBeat, the stock currently has an average rating of “Hold” and an average price target of 2,679 GBX ($32.44).

LON ADM traded 22.78 GBX ($0.28) during Thursday trading hours, reaching 2,343.78 GBX ($28.38). The company’s shares had a trading volume of 641,108 shares, compared to an average volume of 657,392. The stock has a market capitalization of £7.03 billion and a PE ratio of 1,195.80. Admiral Group has a fifty-two week minimum of 2,076 GBX ($25.14) and a fifty-two week maximum of 3,706 GBX ($44.88). The company’s 50-day moving average is 2,243.38 GBX and its two-hundred-day moving average is 2,631.55 GBX. The company has a debt ratio of 55.11, a quick ratio of 0.69 and a current ratio of 1.30.

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In other news, insider Evelyn Bourke acquired 4,478 shares in a trade on Friday, May 13. The share was bought at an average price of 2,233 GBX ($27.04) per share, with a total value of £99,993.74 ($121,087.12).

About the Admiral Group (Get a rating)

Admiral Group plc offers motor insurance products in the UK, Spain, Italy, France, India and the USA. The Company operates through UK Insurance, International Insurance, Admiral Loans and Other segments. It underwrites auto, van, home and travel insurance, as well as unsecured personal and auto loans, as well as legal services.

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Analyst Recommendations for Admiral Group (LON:ADM)

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