Buckingham Research Boosts Axis Capital (NYSE:AXS) Price Target to $74.00

Axis Capital (NYSE:AXS) had its price objective boosted by Buckingham Research from $70.00 to $74.00 in a research note issued to investors on Thursday morning, BenzingaRatingsTable reports. Buckingham Research currently has a buy rating on the insurance provider’s stock.

A number of other analysts have also recently weighed in on the stock. ValuEngine upgraded shares of Axis Capital from a hold rating to a buy rating in a report on Thursday, May 23rd. UBS Group upgraded shares of Axis Capital from a neutral rating to a buy rating and raised their price target for the company from $59.00 to $67.00 in a report on Thursday, May 23rd. Finally, MKM Partners raised their price target on shares of Axis Capital from $70.00 to $75.00 and gave the company a buy rating in a report on Monday, September 9th. Three equities research analysts have rated the stock with a hold rating and six have given a buy rating to the company’s stock. The company has an average rating of Buy and an average target price of $65.88.

NYSE AXS opened at $64.05 on Thursday. The company has a debt-to-equity ratio of 0.36, a quick ratio of 0.56 and a current ratio of 0.56. The company has a market capitalization of $5.36 billion, a price-to-earnings ratio of 33.36, a price-to-earnings-growth ratio of 1.49 and a beta of 0.31. The company’s 50-day simple moving average is $63.49 and its two-hundred day simple moving average is $59.49. Axis Capital has a one year low of $48.27 and a one year high of $65.92.

Axis Capital (NYSE:AXS) last released its quarterly earnings results on Tuesday, July 30th. The insurance provider reported $1.62 earnings per share for the quarter, beating analysts’ consensus estimates of $1.28 by $0.34. Axis Capital had a net margin of 2.97% and a return on equity of 4.56%. The business had revenue of $1.07 billion for the quarter, compared to analysts’ expectations of $1.05 billion. During the same period last year, the business earned $1.27 EPS. The company’s revenue was up 7.0% compared to the same quarter last year. Equities analysts expect that Axis Capital will post 5.06 earnings per share for the current fiscal year.

Several large investors have recently added to or reduced their stakes in the company. Boston Partners boosted its stake in Axis Capital by 266.5% in the 2nd quarter. Boston Partners now owns 1,395,202 shares of the insurance provider’s stock worth $83,248,000 after purchasing an additional 1,014,568 shares in the last quarter. Treasurer of the State of North Carolina boosted its stake in Axis Capital by 0.5% in the 2nd quarter. Treasurer of the State of North Carolina now owns 39,860 shares of the insurance provider’s stock worth $2,378,000 after purchasing an additional 200 shares in the last quarter. BlackRock Inc. boosted its stake in Axis Capital by 5.0% in the 2nd quarter. BlackRock Inc. now owns 4,104,998 shares of the insurance provider’s stock worth $244,861,000 after purchasing an additional 195,344 shares in the last quarter. Barrow Hanley Mewhinney & Strauss LLC boosted its stake in Axis Capital by 29.0% in the 2nd quarter. Barrow Hanley Mewhinney & Strauss LLC now owns 2,706,581 shares of the insurance provider’s stock worth $161,448,000 after purchasing an additional 608,021 shares in the last quarter. Finally, Intrinsic Edge Capital Management LLC acquired a new stake in Axis Capital in the 2nd quarter worth approximately $5,369,000. Institutional investors and hedge funds own 91.61% of the company’s stock.

About Axis Capital

AXIS Capital Holdings Limited, through its subsidiaries, provides various specialty insurance and reinsurance products worldwide. It operates through two segments, Insurance and Reinsurance. The Insurance segment offers property insurance products for commercial buildings, residential premises, construction projects, and onshore energy installations; marine insurance products covering offshore energy, cargo, liability, recreational marine, fine art, specie, hull, and war; and terrorism, aviation, credit and political risk, and liability insurance products.

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Analyst Recommendations for Axis Capital (NYSE:AXS)

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