Ambac Financial Group (NASDAQ:AMBC) was upgraded by stock analysts at BidaskClub from a “buy” rating to a “strong-buy” rating in a report issued on Tuesday.

Separately, MKM Partners boosted their target price on Ambac Financial Group to $20.00 and gave the company a “neutral” rating in a research note on Friday, June 29th.

NASDAQ:AMBC opened at $21.82 on Tuesday. The firm has a market cap of $991.41 million, a P/E ratio of 4.54 and a beta of 1.70. Ambac Financial Group has a 1-year low of $13.17 and a 1-year high of $23.34. The company has a current ratio of 0.91, a quick ratio of 0.91 and a debt-to-equity ratio of 7.22.

Ambac Financial Group (NASDAQ:AMBC) last posted its quarterly earnings results on Wednesday, August 8th. The financial services provider reported $0.78 earnings per share for the quarter, beating the consensus estimate of $0.57 by $0.21. The firm had revenue of $150.64 million for the quarter, compared to analyst estimates of $146.37 million. Ambac Financial Group had a return on equity of 12.05% and a net margin of 15.40%. Ambac Financial Group’s quarterly revenue was down 12.9% on a year-over-year basis. During the same period in the previous year, the firm earned $1.54 earnings per share.

A number of hedge funds and other institutional investors have recently modified their holdings of AMBC. Glen Harbor Capital Management LLC purchased a new position in Ambac Financial Group in the second quarter valued at about $115,000. SG3 Management LLC grew its stake in Ambac Financial Group by 160.0% in the second quarter. SG3 Management LLC now owns 7,500 shares of the financial services provider’s stock valued at $149,000 after purchasing an additional 20,000 shares in the last quarter. Globeflex Capital L P purchased a new position in Ambac Financial Group in the second quarter valued at about $159,000. Meadow Creek Investment Management LLC purchased a new position in Ambac Financial Group in the second quarter valued at about $178,000. Finally, Algert Global LLC purchased a new position in Ambac Financial Group in the second quarter valued at about $199,000. Hedge funds and other institutional investors own 79.58% of the company’s stock.

About Ambac Financial Group

Ambac Financial Group, Inc, a financial services holding company, provides financial guarantees to clients in public and private sectors worldwide. It offers financial guarantee insurance policies and credit derivative contracts for public finance, structured finance, and international finance. The company was founded in 1971 and is headquartered in New York, New York.

See Also: Understanding Analyst Recommendations

Receive News & Ratings for Ambac Financial Group Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Ambac Financial Group and related companies with MarketBeat.com's FREE daily email newsletter.