In a report issued on July 8, Mark Palmer from BTIG maintained a Buy rating on Ambac Financial (AMBC), with a price target of $26. The company’s shares closed yesterday at $17.69.
According to TipRanks.com, Palmer is a top 100 analyst with an average return of 14.3% and a 67.9% success rate. Palmer covers the Financial sector, focusing on stocks such as Genworth Financial, LendingClub Corp, and Radian Group.
Ambac Financial has an analyst consensus of Moderate Buy, with a price target consensus of $20.50.
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Based on Ambac Financial’s latest earnings release for the quarter ending March 31, the company reported a quarterly GAAP net loss of $43.2 million. In comparison, last year the company had a net profit of $4.31 million.
Based on the recent corporate insider activity of 44 insiders, corporate insider sentiment is positive on the stock. This means that over the past quarter there has been an increase of insiders buying their shares of AMBC in relation to earlier this year.
TipRanks has tracked 36,000 company insiders and found that a few of them are better than others when it comes to timing their transactions. See which 3 stocks are most likely to make moves following their insider activities.
Ambac Financial Group, Inc. is a financial services holding company, which provides financial guarantee to public and private sectors. It operates through the Financial Guarantee and Financial Services business segments. The Financial Guarantee segment provides financial guarantees for public finance, structured finance, and international obligations.
