Royal Bank Of Canada Issues Pessimistic Forecast for SelectQuote (NYSE:SLQT) Stock Price

SelectQuote (NYSE:SLQT) had its price target reduced by investment analysts at Royal Bank Of Canada from $5.00 to $3.00 in a research report issued on Wednesday,Benzinga reports. The firm presently has a “sector perform” rating on the stock. Royal Bank Of Canada’s price objective indicates a potential upside of 257.57% from the stock’s current price.

SLQT has been the subject of a number of other research reports. Craig Hallum set a $3.00 target price on SelectQuote in a research note on Friday, February 6th. Wall Street Zen raised SelectQuote from a “sell” rating to a “hold” rating in a research note on Saturday, February 7th. Weiss Ratings upgraded SelectQuote from a “sell (d)” rating to a “hold (c-)” rating in a research report on Friday, February 6th. Finally, Zacks Research upgraded shares of SelectQuote from a “hold” rating to a “strong-buy” rating in a report on Friday, February 6th. One analyst has rated the stock with a Strong Buy rating and three have assigned a Hold rating to the company. According to data from MarketBeat.com, the stock has an average rating of “Moderate Buy” and an average price target of $2.92.

SelectQuote Trading Down 4.7%

SLQT stock opened at $0.84 on Wednesday. The company has a market capitalization of $147.91 million, a PE ratio of 83.98 and a beta of 1.23. The company has a debt-to-equity ratio of 1.07, a quick ratio of 5.65 and a current ratio of 5.65. SelectQuote has a one year low of $0.81 and a one year high of $6.21. The company’s 50 day moving average price is $1.40 and its two-hundred day moving average price is $1.74.

SelectQuote (NYSE:SLQT) last released its earnings results on Thursday, February 5th. The company reported $0.26 EPS for the quarter, beating the consensus estimate of $0.17 by $0.09. The company had revenue of $537.10 million for the quarter, compared to analyst estimates of $530.73 million. SelectQuote had a net margin of 4.80% and a return on equity of 14.85%. As a group, analysts predict that SelectQuote will post -0.07 earnings per share for the current fiscal year.

Hedge Funds Weigh In On SelectQuote

Hedge funds have recently made changes to their positions in the business. Dynamic Technology Lab Private Ltd bought a new position in shares of SelectQuote during the third quarter valued at approximately $27,000. CIBC Bancorp USA Inc. purchased a new position in SelectQuote during the 3rd quarter valued at $29,000. Aquatic Capital Management LLC bought a new position in SelectQuote in the 3rd quarter worth $29,000. Nations Financial Group Inc. IA ADV lifted its position in shares of SelectQuote by 44.4% in the 3rd quarter. Nations Financial Group Inc. IA ADV now owns 19,500 shares of the company’s stock worth $38,000 after purchasing an additional 6,000 shares during the period. Finally, Russell Investments Group Ltd. boosted its stake in shares of SelectQuote by 90.7% during the 2nd quarter. Russell Investments Group Ltd. now owns 16,133 shares of the company’s stock valued at $38,000 after purchasing an additional 7,675 shares in the last quarter. 34.59% of the stock is owned by hedge funds and other institutional investors.

About SelectQuote

SelectQuote, Inc (NYSE: SLQT) is a U.S.-based insurance brokerage and lead generation company that connects consumers with a range of insurance products through proprietary technology and licensed agents. The company specializes in life insurance, supplemental health coverage and Medicare plans, leveraging its digital platform and call center operations to help individuals compare policies and find cost-effective solutions tailored to their needs.

Through a single point of contact, policy seekers can evaluate offerings from multiple carriers, including term life, whole life, accidental death, critical illness and long-term care products.