Old Republic International (NYSE:ORI) Lowered to Hold at Zacks Investment Research

Zacks Investment Research downgraded shares of Old Republic International (NYSE:ORI) from a buy rating to a hold rating in a research report sent to investors on Tuesday, March 27th.

According to Zacks, “O’Reilly Automotive, Inc. is one of the largest specialty retailers of automotive aftermarket parts, tools, supplies, equipment, and accessories in the United States, serving both professional service providers and do-it-yourself customers. “

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Several other brokerages have also recently issued reports on ORI. ValuEngine upgraded Old Republic International from a hold rating to a buy rating in a research note on Thursday, March 1st. JMP Securities upgraded Old Republic International from a market perform rating to an outperform rating in a research note on Monday, February 12th. One analyst has rated the stock with a sell rating, one has given a hold rating, two have given a buy rating and one has assigned a strong buy rating to the company’s stock. The stock has a consensus rating of Buy and a consensus price target of $24.00.

NYSE:ORI traded down $0.01 during trading hours on Tuesday, hitting $21.58. The stock had a trading volume of 1,522,542 shares, compared to its average volume of 3,278,102. The company has a quick ratio of 0.49, a current ratio of 0.49 and a debt-to-equity ratio of 0.31. Old Republic International has a 1-year low of $17.92 and a 1-year high of $22.34. The company has a market capitalization of $5,882.55, a price-to-earnings ratio of 19.44 and a beta of 1.25.

Old Republic International (NYSE:ORI) last released its earnings results on Thursday, January 25th. The insurance provider reported $0.33 EPS for the quarter, beating the Thomson Reuters’ consensus estimate of $0.28 by $0.05. The company had revenue of $1.57 billion during the quarter, compared to analysts’ expectations of $1.64 billion. Old Republic International had a return on equity of 6.80% and a net margin of 8.95%. The business’s revenue was up 2.5% on a year-over-year basis. During the same period in the prior year, the business posted $0.43 EPS. equities analysts anticipate that Old Republic International will post 1.7 earnings per share for the current year.

In related news, Director Glenn W. Reed bought 5,000 shares of the business’s stock in a transaction on Thursday, February 15th. The shares were bought at an average cost of $20.43 per share, for a total transaction of $102,150.00. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this hyperlink. Company insiders own 2.00% of the company’s stock.

A number of hedge funds have recently bought and sold shares of ORI. New York State Common Retirement Fund lifted its stake in Old Republic International by 1.5% in the third quarter. New York State Common Retirement Fund now owns 532,900 shares of the insurance provider’s stock valued at $10,493,000 after buying an additional 7,800 shares during the last quarter. Ameriprise Financial Inc. increased its holdings in shares of Old Republic International by 8.2% during the third quarter. Ameriprise Financial Inc. now owns 823,587 shares of the insurance provider’s stock valued at $16,218,000 after purchasing an additional 62,324 shares during the period. Cipher Capital LP acquired a new position in shares of Old Republic International during the third quarter valued at $299,000. Nordea Investment Management AB increased its holdings in shares of Old Republic International by 8.9% during the third quarter. Nordea Investment Management AB now owns 104,285 shares of the insurance provider’s stock valued at $2,053,000 after purchasing an additional 8,524 shares during the period. Finally, Amundi Pioneer Asset Management Inc. increased its holdings in shares of Old Republic International by 8.6% during the third quarter. Amundi Pioneer Asset Management Inc. now owns 1,599,689 shares of the insurance provider’s stock valued at $31,498,000 after purchasing an additional 126,430 shares during the period. Institutional investors own 73.47% of the company’s stock.

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About Old Republic International

Old Republic International Corporation, through its subsidiaries, engages in the insurance underwriting and related services business primarily in the United States and Canada. The company operates through three segments: General Insurance Group, Title Insurance Group, and the Republic Financial Indemnity Group Run-off Business.

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