Palomar Holdings Inc (NASDAQ:PLMR) Given Average Rating of “Buy” by Brokerages

Palomar Holdings Inc (NASDAQ:PLMR) has received an average recommendation of “Buy” from the seven brokerages that are currently covering the company, Marketbeat reports. Two analysts have rated the stock with a hold rating and five have assigned a buy rating to the company. The average 12 month price target among brokerages that have covered the stock in the last year is $24.50.

Several equities analysts have commented on PLMR shares. Zacks Investment Research downgraded shares of Palomar from a “buy” rating to a “hold” rating in a report on Thursday, July 18th. Keefe, Bruyette & Woods started coverage on shares of Palomar in a report on Sunday, May 12th. They issued an “outperform” rating and a $24.00 price objective on the stock. JPMorgan Chase & Co. assumed coverage on shares of Palomar in a report on Monday, May 13th. They issued an “overweight” rating and a $27.00 price objective on the stock. Evercore ISI assumed coverage on shares of Palomar in a research note on Monday, May 13th. They issued an “outperform” rating on the stock. Finally, SunTrust Banks assumed 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.

Hedge funds have recently added to or reduced their stakes in the stock. Strs Ohio bought a new stake in Palomar during the second quarter worth about $36,000. Quantitative Systematic Strategies LLC bought a new stake in Palomar during the second quarter worth about $201,000. One Tusk Investment Partners LP bought a new stake in Palomar during the second quarter worth about $2,404,000. Finally, Kornitzer Capital Management Inc. KS bought a new stake in Palomar during the second quarter worth about $2,449,000. Institutional investors and hedge funds own 0.29% of the company’s stock.

NASDAQ PLMR traded down $0.08 on Friday, hitting $28.75. 97,661 shares of the stock were exchanged, compared to its average volume of 87,553. The company has a current ratio of 0.39, a quick ratio of 0.39 and a debt-to-equity ratio of 0.19. The business has a fifty day simple moving average of $25.33. Palomar has a 52 week low of $18.06 and a 52 week high of $29.50.

Palomar (NASDAQ:PLMR) last posted its quarterly earnings results on Thursday, May 16th. The company reported $0.52 earnings per share (EPS) for the quarter, topping the Thomson Reuters’ consensus estimate of $0.40 by $0.12. The firm had revenue of $22.31 million for the quarter, compared to the consensus estimate of $16.85 million. On average, research analysts anticipate that Palomar will post 1.66 EPS for the current fiscal year.

About Palomar

There is no company description available for Palomar Holdings Inc

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Analyst Recommendations for Palomar (NASDAQ:PLMR)

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