Abacus Life (NASDAQ:ABL) Earns Overweight Rating from Piper Sandler

Abacus Life (NASDAQ:ABL)‘s stock had its “overweight” rating reiterated by equities research analysts at Piper Sandler in a research report issued on Friday,Benzinga reports. They currently have a $13.00 price objective on the stock, up from their previous price objective of $12.00. Piper Sandler’s price target points to a potential upside of 44.12% from the company’s current price.

A number of other equities research analysts have also recently weighed in on ABL. Northland Securities initiated coverage on shares of Abacus Life in a report on Thursday, October 24th. They issued an “outperform” rating and a $13.50 price objective on the stock. B. Riley Financial restated a “buy” rating and issued a $16.00 price target on shares of Abacus Life in a research note on Friday, August 30th. Northland Capmk upgraded Abacus Life to a “strong-buy” rating in a research note on Thursday, October 24th. TD Cowen began coverage on Abacus Life in a report on Wednesday, August 7th. They issued a “buy” rating and a $14.00 target price on the stock. Finally, B. Riley reaffirmed a “buy” rating and issued a $16.00 price target (up previously from $15.00) on shares of Abacus Life in a research report on Thursday, August 29th. Five equities research analysts have rated the stock with a buy rating and one has issued a strong buy rating to the stock. According to MarketBeat, the company presently has a consensus rating of “Buy” and a consensus price target of $14.50.

Abacus Life Price Performance

ABL stock opened at $9.02 on Friday. The stock has a market capitalization of $673.35 million, a price-to-earnings ratio of -50.11 and a beta of 0.15. Abacus Life has a 12-month low of $5.75 and a 12-month high of $13.25. The firm’s 50-day moving average price is $9.62 and its two-hundred day moving average price is $10.07. The company has a current ratio of 1.84, a quick ratio of 1.84 and a debt-to-equity ratio of 0.59.

Abacus Life (NASDAQ:ABL) last issued its quarterly earnings data on Monday, August 12th. The company reported $0.18 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.13 by $0.05. The business had revenue of $29.08 million for the quarter, compared to the consensus estimate of $28.57 million. Abacus Life had a negative net margin of 6.19% and a positive return on equity of 7.02%. During the same period in the previous year, the firm earned $0.13 EPS. As a group, equities analysts predict that Abacus Life will post 0.57 earnings per share for the current year.

Institutional Trading of Abacus Life

Several large investors have recently added to or reduced their stakes in ABL. Evernest Financial Advisors LLC bought a new position in Abacus Life in the 3rd quarter worth approximately $681,000. Principal Financial Group Inc. purchased a new stake in Abacus Life during the 2nd quarter valued at $8,105,000. Mendon Capital Advisors Corp purchased a new position in shares of Abacus Life during the 2nd quarter worth about $4,974,000. Clearbridge Investments LLC purchased a new position in shares of Abacus Life during the second quarter valued at approximately $4,342,000. Finally, Richard W. Paul & Associates LLC increased its stake in Abacus Life by 4.8% in the second quarter. Richard W. Paul & Associates LLC now owns 30,448 shares of the company’s stock worth $263,000 after purchasing an additional 1,401 shares during the period.

Abacus Life Company Profile

Abacus Life, Inc operates as an alternative asset manager specializing in life insurance products. It purchases life insurance policies from consumers seeking liquidity and manages policies over time via trading, holding, and/or servicing. The company was founded in 2004 and is based in Orlando, Florida.