Travelers Stock Ticks Higher After Upbeat Results

Analysts are still bearish toward the stock

Deputy Editor
Oct 19, 2022 at 10:59 AM
facebook X logo linkedin


Blue-chip insurance name Travelers Companies Inc (NYSE:TRV) is up 2.5% at $171.19 at last check, after the company's strong third-quarter results. Travelers reported earnings of $2.20 per share and revenue of $9.20 billion, both of which beat analysts' estimates, though quarterly profits fell 20% amid hurricane-related claims and lower returns on investments. 

On the charts, TRV is eyeing its highest close since mid-August, breaking above a slew of long-term moving averages, including the 140-day trendline. It's also worth noting that the security's 14-day relative strength index (RSI) of 74.1 sits firmly in "overbought" territory, meaning a short-term dip could be coming soon. Year-to-date, the equity is up 9.9%. 

The brokerage bunch has yet to chime in with any adjustments today. Of the 12 analysts in coverage, 10 still carry a tepid "hold" or worse rating on Travelers stock. Plus, the 12-month consensus target price of $174.47 is a slim 1.5% premium to current levels.

Short-term options traders have favored calls lately. This is per TRV's Schaeffer's put/call open interest ratio (SOIR) of 0.80, which sits higher than just 26% of readings from the last 12 months.

 

 

Target Effortless Triple-Digit Gains Every Sunday Evening For Life!

This is your chance to triple your profit potential on Sunday evenings, without spending all your free time watching the market.

On Sundays, as a Weekend Plus subscriber, you’ll get up to 6 trades every Sunday, each targeting gains of 200% or more.

Start targeting gains like the ones our subscribers have seen recently, including:

213.3% GAIN on AutoNation calls
100.0% GAIN on Monster Beverage calls
100.4% GAIN on Walgreens Boots Alliance puts
100.4% GAIN on ON Semiconductor calls
257.7% GAIN on Dell calls

101.0% GAIN on Apollo Global Management calls
103.6% GAIN on JP Morgan  Chase calls
105.3% GAIN on DraftKings calls
101.3% GAIN on Airbnb calls
203.0% GAIN on Shopify calls
102.0% GAIN on Cboe Global Markets calls
100.9% GAIN on Boeing calls
102.1% GAIN on Microsoft puts
102.3% GAIN on First Solar calls
101.5% GAIN on PulteGroup calls
101.0% GAIN on Apple calls
209.4% GAIN on NXP Semiconductors calls
100.8% GAIN on Uber Technologies calls
100.4% GAIN on Academy Sports and Outdoors puts
102.2% GAIN on Trade Desk calls
100.8% GAIN on DoorDash calls
100.0% GAIN on Camping World Holdings puts
100.0% GAIN on Cboe Global Markets calls
100.2% GAIN on C3.ai calls
238.5% GAIN on Oracle calls

 
 
 


 
 

Rainmaker Ads CGI