Octave Specialty Group, Inc. (NYSE:OSG) Stock Has Consensus Target Price of $11.50 According to Analysts

by · The Markets Daily

Octave Specialty Group, Inc. (NYSE:OSG – Get Free Report) has been assigned a consensus rating of “Hold” from the five brokerages that are covering the stock, MarketBeat reports. One equities research analyst has rated the stock with a sell recommendation, two have given a hold recommendation and two have assigned a buy recommendation to the company. The average twelve-month target price among brokerages that have covered the stock in the last year is $11.50.

A number of analysts have weighed in on the company. Weiss Ratings raised Octave Specialty Group from a “sell (e+)” rating to a “sell (d-)” rating in a research report on Thursday, September 17th. Zacks Research lowered Octave Specialty Group from a “strong-buy” rating to a “hold” rating in a report on Monday, July 6th. Finally, Keefe, Bruyette & Woods assumed coverage on Octave Specialty Group in a research note on Friday, August 28th. They set an “outperform” rating and a $8.00 price target for the company.

Check Out Our Latest Research Report on Octave Specialty Group

Octave Specialty Group Stock Up 0.8%

Shares of NYSE:OSG opened at $4.17 on Tuesday. Octave Specialty Group has a 1-year low of $3.88 and a 1-year high of $10.38. The company has a debt-to-equity ratio of 0.19, a current ratio of 0.92 and a quick ratio of 0.92. The stock has a market cap of $188.08 million, a P/E ratio of -1.14 and a beta of 0.83. The firm has a fifty day moving average price of $4.93 and a 200 day moving average price of $5.18.

Octave Specialty Group (NYSE:OSG – Get Free Report) last announced its earnings results on Thursday, August 6th. The company reported ($0.04) EPS for the quarter, missing analysts’ consensus estimates of ($0.01) by ($0.03). Octave Specialty Group had a negative net margin of 51.10% and a positive return on equity of 0.44%. The business had revenue of $83.00 million during the quarter, compared to analysts’ expectations of $22.79 million. Sell-side analysts predict that Octave Specialty Group will post 0.19 EPS for the current year.

Hedge Funds Weigh In On Octave Specialty Group

A number of large investors have recently bought and sold shares of the company. Corient Private Wealth LP purchased a new position in Octave Specialty Group during the second quarter worth about $77,000. Lone Peak Global Investors LLC purchased a new stake in Octave Specialty Group in the 2nd quarter valued at approximately $672,000. Public Employees Retirement System of Ohio purchased a new stake in Octave Specialty Group in the 2nd quarter valued at approximately $383,000. Bank of New York Mellon Corp acquired a new position in Octave Specialty Group during the 2nd quarter worth approximately $842,000. Finally, Versant Capital Management Inc acquired a new position in Octave Specialty Group during the 2nd quarter worth approximately $52,000. Hedge funds and other institutional investors own 80.92% of the company’s stock.

About Octave Specialty Group

(Get Free Report)

Ambac Financial Group, Inc operates as a financial services holding company. It operates three businesses: Specialty Property and Casualty Insurance, Insurance Distribution, and Legacy Financial Guarantee (LFG) Insurance. The Specialty Property and Casualty Insurance business provides specialty property and casualty program insurance with a focus commercial and personal liability risks. The Insurance Distribution business includes the specialty property and casualty insurance distribution business, which includes managing general agents and underwriters, insurance wholesalers, brokers, and other distribution businesses.

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