Brokerages Set Watford Hldg Ltd (NASDAQ:WTRE) Price Target at $29.00

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Shares of Watford Hldg Ltd (NASDAQ:WTRE) have received a consensus rating of “Hold” from the six brokerages that are currently covering the firm, MarketBeat Ratings reports. Five research analysts have rated the stock with a hold rating and one has issued a buy rating on the company. The average 1 year price objective among brokers that have issued ratings on the stock in the last year is $29.00.

A number of analysts have recently weighed in on WTRE shares. Zacks Investment Research raised shares of Watford from a “sell” rating to a “hold” rating in a research note on Saturday, November 9th. Morgan Stanley initiated coverage on shares of Watford in a research note on Wednesday, November 6th. They set an “equal weight” rating and a $28.00 price objective on the stock.

WTRE stock opened at $25.99 on Friday. The company has a 50-day simple moving average of $26.79 and a 200 day simple moving average of $25.68. Watford has a fifty-two week low of $18.75 and a fifty-two week high of $28.99. The company has a quick ratio of 0.29, a current ratio of 0.29 and a debt-to-equity ratio of 0.18.

Watford (NASDAQ:WTRE) last released its earnings results on Tuesday, October 29th. The company reported $0.01 EPS for the quarter, missing the Thomson Reuters’ consensus estimate of $0.40 by ($0.39). The company had revenue of $140.45 million for the quarter. Watford had a negative net margin of 2.81% and a negative return on equity of 1.82%. On average, equities research analysts predict that Watford will post 3.48 EPS for the current year.

Hedge funds have recently made changes to their positions in the stock. Strs Ohio bought a new position in shares of Watford during the 2nd quarter valued at about $148,000. BNP Paribas Arbitrage SA purchased a new position in Watford in the 2nd quarter worth about $27,000. BlackRock Inc. acquired a new stake in Watford during the 2nd quarter worth about $28,301,000. Morgan Stanley purchased a new stake in Watford during the second quarter valued at about $1,668,000. Finally, Citadel Advisors LLC purchased a new position in shares of Watford in the second quarter worth approximately $945,000. 18.80% of the stock is owned by institutional investors and hedge funds.

Watford Company Profile

Watford Holdings Ltd., together with its subsidiaries, operates as a property, casualty, and mortgage insurance and reinsurance company worldwide. The company was founded in 2013 and is headquartered in Pembroke, Bermuda.

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Analyst Recommendations for Watford (NASDAQ:WTRE)

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