Royal Bank Of Canada Has Lowered Expectations for SelectQuote (NYSE:SLQT) Stock Price

SelectQuote (NYSE:SLQT) had its price objective reduced by research analysts at Royal Bank Of Canada from $5.00 to $3.00 in a report released on Wednesday,Benzinga reports. The firm presently has a “sector perform” rating on the stock. Royal Bank Of Canada’s price target would suggest a potential upside of 244.83% from the company’s current price.

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

SelectQuote Stock Performance

Shares of SLQT traded down $0.04 during midday trading on Wednesday, reaching $0.87. 1,664,145 shares of the stock were exchanged, compared to its average volume of 1,597,635. The business’s 50-day moving average price is $1.42 and its 200 day moving average price is $1.75. The company has a debt-to-equity ratio of 1.07, a current ratio of 5.65 and a quick ratio of 5.65. SelectQuote has a twelve month low of $0.82 and a twelve month high of $6.21. The company has a market capitalization of $153.37 million, a price-to-earnings ratio of 86.39 and a beta of 1.23.

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

Institutional Trading of SelectQuote

Several large investors have recently bought and sold shares of SLQT. Dynamic Technology Lab Private Ltd acquired a new position in shares of SelectQuote during the 3rd quarter worth $27,000. CIBC Bancorp USA Inc. acquired a new stake in SelectQuote in the 3rd quarter valued at about $29,000. Aquatic Capital Management LLC purchased a new position in SelectQuote during the 3rd quarter valued at about $29,000. Nations Financial Group Inc. IA ADV raised its position in SelectQuote by 44.4% during the third quarter. Nations Financial Group Inc. IA ADV now owns 19,500 shares of the company’s stock worth $38,000 after acquiring an additional 6,000 shares during the last quarter. Finally, Russell Investments Group Ltd. raised its position in SelectQuote by 90.7% during the second quarter. Russell Investments Group Ltd. now owns 16,133 shares of the company’s stock worth $38,000 after acquiring an additional 7,675 shares during the last quarter. Institutional investors and hedge funds own 34.59% of the company’s stock.

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.