TD Cowen lifts Allstate Corp [ALL] price estimate. Who else is bullish?

Allstate Corp [NYSE: ALL] jumped around 3.15 points on Thursday, while shares priced at $161.75 at the close of the session, up 1.99%. The company report on February 7, 2024 at 5:07 PM that The Allstate Corporation Announces Availability of Fourth Quarter 2023 Results.

The Allstate Corporation (NYSE: ALL) has filed a Form 8-K reporting its financial results for the quarter ended Dec. 31, 2023. You can find the Form 8-K, including the earnings release and investor supplement, on the company’s page at sec.gov. These materials are also now available at www.allstateinvestors.com, including the press release.

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The Allstate Corporation will host a conference call and webcast at 9 a.m. Eastern on Thursday, Feb. 8 to discuss fourth-quarter results.

Compared to the average trading volume of 1.42M shares, ALL reached a trading volume of 3791928 in the most recent trading day, which is why market watchdogs consider the stock to be active.

What do top market gurus say about Allstate Corp [ALL]?

Based on careful and fact-backed analyses by Wall Street experts, the current consensus on the target price for ALL shares is $164.42 per share. Analysis on target price and performance of stocks is usually carefully studied by market experts, and the current Wall Street consensus on ALL stock is a recommendation set at 1.92. This rating represents a strong Buy recommendation, on the scale from 1 to 5, where 5 would mean strong sell, 4 represents Sell, 3 is Hold, and 2 indicates Buy.

TD Cowen have made an estimate for Allstate Corp shares, keeping their opinion on the stock as Outperform, with their previous recommendation back on January 10, 2024.

The Average True Range (ATR) for Allstate Corp is set at 2.92, with the Price to Sales ratio for ALL stock in the period of the last 12 months amounting to 0.74. The Price to Book ratio for the last quarter was 2.69. Price to Free Cash Flow for ALL in the course of the last twelve months was 11.41.

How has ALL stock performed recently?

Allstate Corp [ALL] gain into the green zone at the end of the last week, gaining into a positive trend and gaining by 3.56. With this latest performance, ALL shares gained by 7.13% in over the last four-week period, additionally plugging by 47.58% over the last 6 months – not to mention a rise of 18.31% in the past year of trading.

Overbought and oversold stocks can be easily traced with the Relative Strength Index (RSI), where an RSI result of over 70 would be overbought, and any rate below 30 would indicate oversold conditions. An RSI rate of 50 would represent a neutral market momentum. The current RSI for ALL stock in for the last two-week period is set at 75.27, with the RSI for the last a single of trading hit 77.47, and the three-weeks RSI is set at 73.87 for Allstate Corp [ALL]. The present Moving Average for the last 50 days of trading for this stock 146.90, while it was recorded at 158.38 for the last single week of trading, and 122.73 for the last 200 days.

Allstate Corp [ALL]: Deeper insight into the fundamentals

Allstate Corp’s liquidity data is similarly interesting compelling, with a Current Ratio set at 0.39.

Earnings analysis for Allstate Corp [ALL]

With the latest financial reports released by the company, Allstate Corp posted -1.3/share EPS, while the average EPS was predicted by analysts to be reported at -1.42/share. When compared, the two values demonstrate that the company surpassed the estimates by a Surprise Factor of 8.50%. The progress of the company may be observed through the prism of EPS growth rate, while Wall Street analysts are focusing on predicting the 5-year EPS growth rate for ALL.

Insider trade positions for Allstate Corp [ALL]

The top three institutional holders of ALL stocks are: VANGUARD GROUP INC with ownership of 1.3 billion shares, which is approximately 8.2815%. BLACKROCK INC., holding 1.03 billion shares of the stock with an approximate value of $176.59 billion in ALL stocks shares; and BERKSHIRE HATHAWAY INC, currently with $156.75 billion in ALL stock with ownership which is approximately 5.8325%.