Conifer (CNFR) Given “Buy” Rating at Boenning Scattergood

Conifer (NASDAQ:CNFR)‘s stock had its “buy” rating reissued by investment analysts at Boenning Scattergood in a research report issued on Thursday. They presently have a $7.00 price objective on the insurance provider’s stock. Boenning Scattergood’s price target suggests a potential upside of 24.78% from the company’s previous close.

The analysts wrote, “We believe management is doing the right things – it’s just taking longer than we anticipated to right the ship. We modestly lowered our target price, but we believe there’s enough upside to maintain our Outperform rating.””

CNFR has been the subject of several other research reports. ValuEngine lowered Conifer from a “hold” rating to a “sell” rating in a research report on Wednesday, September 12th. Zacks Investment Research raised Conifer from a “sell” rating to a “hold” rating in a research report on Wednesday, October 10th. TheStreet lowered Conifer from a “c-” rating to a “d” rating in a research report on Wednesday, October 31st. Finally, Raymond James reissued a “buy” rating on shares of Conifer in a research report on Monday, August 13th. Two analysts have rated the stock with a sell rating, one has assigned a hold rating and two have assigned a buy rating to the company’s stock. The stock currently has an average rating of “Hold” and an average price target of $6.42.

Shares of CNFR stock opened at $5.61 on Thursday. Conifer has a 52 week low of $5.00 and a 52 week high of $7.20. The firm has a market capitalization of $48.26 million, a P/E ratio of -1.93 and a beta of 0.79. The company has a quick ratio of 0.47, a current ratio of 0.51 and a debt-to-equity ratio of 0.64.

Conifer (NASDAQ:CNFR) last announced its quarterly earnings data on Thursday, November 8th. The insurance provider reported ($0.14) EPS for the quarter, missing the consensus estimate of $0.02 by ($0.16). The firm had revenue of $24.77 million for the quarter, compared to analysts’ expectations of $24.14 million. Conifer had a negative net margin of 4.17% and a positive return on equity of 1.21%. Sell-side analysts anticipate that Conifer will post 0.28 EPS for the current fiscal year.

In other news, President Brian J. Roney acquired 10,000 shares of the stock in a transaction on Tuesday, September 11th. The stock was acquired at an average price of $6.07 per share, with a total value of $60,700.00. Following the completion of the transaction, the president now owns 313,602 shares of the company’s stock, valued at approximately $1,903,564.14. The purchase was disclosed in a document filed with the SEC, which is accessible through this link. Company insiders own 52.50% of the company’s stock.

An institutional investor recently raised its position in Conifer stock. Northpointe Capital LLC raised its holdings in shares of Conifer Holdings Inc (NASDAQ:CNFR) by 2.6% in the second quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 457,842 shares of the insurance provider’s stock after purchasing an additional 11,569 shares during the quarter. Northpointe Capital LLC owned 5.37% of Conifer worth $2,884,000 as of its most recent SEC filing. Hedge funds and other institutional investors own 25.61% of the company’s stock.

Conifer Company Profile

Conifer Holdings, Inc, an insurance holding company, offers insurance coverage in specialty commercial and personal product lines. The company underwrites various specialty insurance products, including property, general liability, commercial multi-peril, liquor liability, and automobile policies. It serves the commercial insurance needs of owner-operated businesses in the markets, such as hospitality, which includes restaurants, bars, taverns, and bowling centers, as well as small grocery and convenience stores; artisan contractors comprising plumbers, painters, carpenters, electricians, and other independent contractors; and security service providers, such as companies that provide security guard services, security alarm products and services, and private investigative services.

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