Palomar Holdings Inc (NASDAQ:PLMR) Receives $44.80 Average Price Target from Analysts

Palomar Holdings Inc (NASDAQ:PLMR) has been assigned an average recommendation of “Buy” from the eight research firms that are presently covering the firm, Marketbeat.com reports. Two analysts have rated the stock with a hold recommendation and five have assigned a buy recommendation to the company. The average 12-month price target among analysts that have issued ratings on the stock in the last year is $44.80.

Several equities analysts have recently weighed in on the stock. JMP Securities assumed coverage on shares of Palomar in a report on Wednesday, October 16th. They set an “outperform” rating and a $50.00 target price for the company. Evercore ISI reissued a “buy” rating on shares of Palomar in a report on Monday, August 12th. JPMorgan Chase & Co. increased their price target on shares of Palomar from $27.00 to $40.00 and gave the stock an “overweight” rating in a report on Tuesday, August 13th. Barclays raised their price target on shares of Palomar from $30.00 to $36.00 and gave the company an “equal weight” rating in a research report on Wednesday, October 2nd. Finally, SunTrust Banks lifted their price objective on shares of Palomar to $50.00 and gave the company a “positive” rating in a report on Wednesday, November 6th. They noted that the move was a valuation call.

Shares of NASDAQ:PLMR opened at $52.97 on Friday. Palomar has a 12-month low of $18.06 and a 12-month high of $55.67. The business has a 50 day moving average of $46.22 and a two-hundred day moving average of $33.61.

Palomar (NASDAQ:PLMR) last released its quarterly earnings data on Monday, November 4th. The company reported $0.40 EPS for the quarter, missing the Thomson Reuters’ consensus estimate of $0.41 by ($0.01). The business had revenue of $30.10 million during the quarter, compared to analyst estimates of $30.09 million. On average, sell-side analysts anticipate that Palomar will post 1.72 EPS for the current year.

In other news, major shareholder Vi Gp Aiv Ltd. Genstar sold 787,500 shares of the company’s stock in a transaction that occurred on Wednesday, October 2nd. The stock was sold at an average price of $35.04, for a total transaction of $27,594,000.00. Also, President Heath A. Fisher sold 35,000 shares of the company’s stock in a transaction that occurred on Wednesday, September 25th. The stock was sold at an average price of $36.50, for a total value of $1,277,500.00. Insiders have sold 6,037,500 shares of company stock worth $211,694,890 in the last quarter.

Institutional investors have recently added to or reduced their stakes in the stock. Strs Ohio purchased a new stake in Palomar in the 2nd quarter worth $36,000. Quantitative Systematic Strategies LLC purchased a new stake in shares of Palomar during the second quarter worth about $201,000. Kornitzer Capital Management Inc. KS purchased a new stake in shares of Palomar during the second quarter worth about $2,449,000. One Tusk Investment Partners LP acquired a new position in shares of Palomar during the 2nd quarter worth about $2,404,000. Finally, Axiom International Investors LLC DE acquired a new position in shares of Palomar during the 2nd quarter worth about $1,419,000. 54.61% of the stock is currently owned by hedge funds and other institutional investors.

Palomar Company Profile

There is no company description available for Palomar Holdings Inc

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Analyst Recommendations for Palomar (NASDAQ:PLMR)

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