ProAssurance Shares Surge Past Analyst Target Price of $18.25
Recently, shares of ProAssurance Corp (Symbol: PRA) have surpassed the 12-month average analyst target price of $18.25, trading at $23.02 per share. This situation puts analysts in a position to assess the next steps. They can either downgrade their valuation or raise the target price, depending on recent developments within the company that have fueled this price increase.
Within the Zacks coverage universe, four different analyst targets contribute to the average for ProAssurance Corp. However, it’s important to note that averages can obscure individual perspectives; for example, one analyst predicts a target of $17.00 while another sees potential as high as $20.00. The standard deviation among these estimates stands at $1.258.
Investors often turn to the average PRA price target to glean insights from a “wisdom of crowds” approach. This communal analysis helps to form a more rounded view than relying solely on a single expert’s prediction. With PRA now trading above the average target price of $18.25 per share, it prompts investors to evaluate whether this price is a waypoint on the journey to a higher target or if valuations have become overly extended, warranting a recalibration of their positions. Below is a summary of current analyst ratings for ProAssurance Corp:
| Recent PRA Analyst Ratings Breakdown | ||||
|---|---|---|---|---|
| » | Current | 1 Month Ago | 2 Month Ago | 3 Month Ago |
| Strong buy ratings: | 1 | 1 | 1 | 1 |
| Buy ratings: | 0 | 0 | 0 | 0 |
| Hold ratings: | 5 | 5 | 5 | 5 |
| Sell ratings: | 0 | 0 | 0 | 0 |
| Strong sell ratings: | 0 | 0 | 0 | 0 |
| Average rating: | 2.67 | 2.67 | 2.67 | 2.67 |
The average rating from the table uses a scale from 1 to 5, where 1 is Strong Buy and 5 is Strong Sell. This information was sourced from Zacks Investment Research via Quandl.com. For those interested, the latest Zacks research report on PRA is available here—FREE.
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The views and opinions expressed herein are the views and opinions of the author and do not necessarily reflect those of Nasdaq, Inc.
