Crawford & Company (NYSE:CRD.B) Cut to “Hold” at Zacks Research

Zacks Research downgraded shares of Crawford & Company (NYSE:CRD.B) from a strong-buy rating to a hold rating in a report released on Monday morning,Zacks reports.

Crawford & Company Stock Performance

Shares of CRD.B stock opened at $12.04 on Monday. The company has a market cap of $585.41 million, a P/E ratio of 25.09 and a beta of 0.63. The firm has a fifty day moving average price of $11.90 and a 200 day moving average price of $10.78. The company has a current ratio of 1.19, a quick ratio of 1.19 and a debt-to-equity ratio of 0.82. Crawford & Company has a 12 month low of $8.78 and a 12 month high of $13.59.

Crawford & Company (NYSE:CRD.B) last posted its quarterly earnings results on Monday, August 3rd. The business services provider reported $0.38 earnings per share for the quarter, beating analysts’ consensus estimates of $0.27 by $0.11. Crawford & Company had a return on equity of 28.15% and a net margin of 1.81%.The company had revenue of $321.44 million for the quarter, compared to analysts’ expectations of $336.09 million. Sell-side analysts predict that Crawford & Company will post 1.05 earnings per share for the current fiscal year.

Insider Activity at Crawford & Company

In other Crawford & Company news, EVP Andrew Bart sold 10,118 shares of the company’s stock in a transaction on Friday, August 14th. The shares were sold at an average price of $13.17, for a total value of $133,254.06. Following the completion of the transaction, the executive vice president owned 101,277 shares in the company, valued at $1,333,818.09. This represents a 9.08% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is available at this hyperlink. Also, major shareholder Jesse C. Crawford sold 1,000,000 shares of the firm’s stock in a transaction that occurred on Monday, August 10th. The stock was sold at an average price of $12.81, for a total transaction of $12,810,000.00. Following the transaction, the insider owned 4,447,188 shares in the company, valued at approximately $56,968,478.28. This trade represents a 18.36% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. Insiders sold 1,020,093 shares of company stock worth $13,075,773 over the last quarter. 51.04% of the stock is currently owned by insiders.

Crawford & Company Company Profile

Crawford & Company is a global provider of independent claims management and related services for the insurance and risk-management industries. The company supports insurers, brokers, corporations and public entities throughout the life cycle of a claim, from initial reporting and investigation through evaluation, settlement and resolution.

Its services include property and casualty claims adjusting, workers’ compensation administration, liability and automobile claims handling, catastrophe response, loss adjusting and third-party administration.