Palomar Holdings Inc (NASDAQ:PLMR) Receives Average Recommendation of “Buy” from Analysts

Shares of Palomar Holdings Inc (NASDAQ:PLMR) have been assigned an average rating of “Buy” from the seven research firms that are presently covering the company, MarketBeat.com reports. One equities research analyst has rated the stock with a hold rating and six have issued a buy rating on the company. The average twelve-month price objective among brokerages that have covered the stock in the last year is $36.00.

PLMR has been the topic of a number of research analyst reports. SunTrust Banks increased their price objective on shares of Palomar to $44.00 and gave the stock a “buy” rating in a report on Wednesday, August 14th. Keefe, Bruyette & Woods increased their price objective on shares of Palomar from $28.00 to $38.00 and gave the stock an “outperform” rating in a report on Wednesday, August 14th. Evercore ISI reissued a “buy” rating on shares of Palomar in a report on Monday, August 12th. Zacks Investment Research raised shares of Palomar from a “hold” rating to a “buy” rating and set a $38.00 price objective on the stock in a report on Thursday, August 15th. Finally, JPMorgan Chase & Co. increased their price objective on shares of Palomar from $27.00 to $40.00 and gave the stock an “overweight” rating in a report on Tuesday, August 13th.

Large investors have recently modified their holdings of the business. Strs Ohio acquired a new position in Palomar during the 2nd quarter valued at about $36,000. JPMorgan Chase & Co. acquired a new position in Palomar during the 2nd quarter valued at about $39,000. Quantitative Systematic Strategies LLC acquired a new position in Palomar during the 2nd quarter valued at about $201,000. LPL Financial LLC acquired a new position in Palomar during the 2nd quarter valued at about $203,000. Finally, Citadel Advisors LLC acquired a new position in Palomar during the 2nd quarter valued at about $220,000. 25.98% of the stock is currently owned by hedge funds and other institutional investors.

Shares of PLMR traded up $2.02 during trading hours on Monday, hitting $37.94. The stock had a trading volume of 216,570 shares, compared to its average volume of 77,837. The company’s fifty day moving average price is $33.40. Palomar has a 52 week low of $18.06 and a 52 week high of $38.24.

Palomar (NASDAQ:PLMR) last posted its earnings results on Monday, August 12th. The company reported $0.36 earnings per share for the quarter, topping the Thomson Reuters’ consensus estimate of $0.30 by $0.06. The firm had revenue of $25.41 million during the quarter, compared to the consensus estimate of $24.25 million. As a group, sell-side analysts predict that Palomar will post 1.74 EPS for the current fiscal year.

About Palomar

There is no company description available for Palomar Holdings Inc

Read More: How to calculate compound interest

Analyst Recommendations for Palomar (NASDAQ:PLMR)

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