Kevin Steinke, an analyst from Barrington, reiterated the Buy rating on Crawford & Company A (CRD.A – Research Report). The associated price target is $14.00.
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Kevin Steinke has given his Buy rating due to a combination of factors that highlight Crawford & Company’s strong financial performance and strategic positioning. The company reported a significant revenue increase of 17.3% year-over-year in Q4/24, surpassing both Barrington’s and the consensus estimates. This growth was driven by heightened insurance claims activity related to recent hurricanes, as well as robust performance across multiple business segments, including North America Loss Adjusting and International Operations.
Moreover, Crawford’s weather-driven businesses saw a substantial 45% year-over-year revenue increase in Q4/24, indicating the company’s ability to capitalize on catastrophic events. Additionally, the non-weather businesses also showed solid growth, with a 7% year-over-year increase, demonstrating Crawford’s diverse revenue streams. The company’s strong client relationships and operational expertise further enhance its competitive edge, supporting Steinke’s positive outlook and the decision to raise the price target to $14 while reiterating an OUTPERFORM rating.