Zacks Investment Research upgraded shares of Palomar (NASDAQ:PLMR) from a hold rating to a buy rating in a research note issued to investors on Tuesday morning, Zacks.com reports. They currently have $29.00 target price on the stock.
According to Zacks, “Palomar Holdings Inc. is a property insurance company. It is focused on providing specialty property insurance products for individuals and businesses. The company’s primary business includes Residential Earthquake, Commercial Earthquake, Specialty Homeowners, Commercial All Risk, Hawaii Hurricane, Residential Flood and REI. Palomar Holdings Inc. is based in La Jolla, United States. “
Other equities research analysts have also recently issued research reports about the stock. William Blair initiated coverage on shares of Palomar in a research note on Tuesday, May 14th. They issued an outperform rating on the stock. JPMorgan Chase & Co. lifted their price target on shares of Vermilion Energy from C$42.00 to C$43.00 in a research note on Monday, May 13th. SunTrust Banks initiated coverage on shares of Palomar in a research note on Monday, May 13th. They issued a buy rating and a $27.00 price target on the stock. Evercore ISI initiated coverage on shares of Palomar in a research note on Monday, May 13th. They issued an outperform rating on the stock. Finally, Barclays cut shares of Buckeye Partners from an overweight rating to an equal weight rating in a research note on Monday, May 13th. Two investment analysts have rated the stock with a hold rating and five have issued a buy rating to the company. The company presently has an average rating of Buy and an average price target of $25.40.
Shares of NASDAQ:PLMR traded up $0.44 during trading on Tuesday, hitting $25.80. 3,003 shares of the stock traded hands, compared to its average volume of 137,014. The company has a debt-to-equity ratio of 0.19, a current ratio of 0.39 and a quick ratio of 0.39. The business’s fifty day simple moving average is $24.18. Palomar has a 52-week low of $18.06 and a 52-week high of $26.37.
Palomar (NASDAQ:PLMR) last posted its earnings results on Thursday, May 16th. The company reported $0.52 earnings per share for the quarter, beating the consensus estimate of $0.40 by $0.12. The firm had revenue of $22.31 million for the quarter, compared to analysts’ expectations of $16.85 million. On average, sell-side analysts anticipate that Palomar will post 1.66 earnings per share for the current fiscal year.
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