Palomar (NASDAQ:PLMR) Rating Reiterated by JMP Securities

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Palomar (NASDAQ:PLMR)‘s stock had its “outperform” rating reiterated by research analysts at JMP Securities in a report issued on Tuesday, The Fly reports. They presently have a $55.00 target price on the stock. JMP Securities’ target price suggests a potential upside of 13.85% from the company’s previous close.

Several other equities research analysts also recently commented on PLMR. Zacks Investment Research downgraded Palomar from a “buy” rating to a “hold” rating in a report on Wednesday, January 8th. Barclays increased their price objective on Palomar from $30.00 to $36.00 and gave the stock an “equal weight” rating in a research note on Wednesday, October 2nd. SunTrust Banks increased their price objective on Palomar to $50.00 and gave the stock a “positive” rating in a research note on Wednesday, November 6th. They noted that the move was a valuation call. Finally, Keefe, Bruyette & Woods increased their price objective on Palomar from $48.00 to $57.00 and gave the stock an “outperform” rating in a research note on Sunday, December 8th. Two investment analysts have rated the stock with a hold rating and six have given a buy rating to the company’s stock. The company has a consensus rating of “Buy” and a consensus price target of $48.67.

Shares of NASDAQ PLMR traded up $0.31 during mid-day trading on Tuesday, hitting $48.31. 81,920 shares of the company traded hands, compared to its average volume of 406,106. Palomar has a 1 year low of $18.06 and a 1 year high of $56.75. The business has a 50 day moving average of $51.57 and a two-hundred day moving average of $39.69.

Palomar (NASDAQ:PLMR) last announced its earnings results on Monday, November 4th. The company reported $0.40 EPS for the quarter, missing the consensus estimate of $0.41 by ($0.01). The firm had revenue of $30.10 million during the quarter, compared to analyst estimates of $30.09 million. As a group, sell-side analysts expect that Palomar will post 1.73 EPS for the current fiscal year.

In related news, CEO Mac Armstrong sold 27,500 shares of the stock in a transaction dated Monday, December 30th. The stock was sold at an average price of $48.68, for a total value of $1,338,700.00. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this link. Also, President Heath A. Fisher sold 5,000 shares of the stock in a transaction dated Monday, December 30th. The stock was sold at an average price of $48.68, for a total value of $243,400.00. Following the completion of the sale, the president now directly owns 326,198 shares of the company’s stock, valued at $15,879,318.64. The disclosure for this sale can be found here. Over the last three months, insiders sold 4,302,500 shares of company stock valued at $203,516,200.

A number of hedge funds have recently modified their holdings of PLMR. JPMorgan Chase & Co. acquired a new position in Palomar in the 2nd quarter worth about $39,000. Atwood & Palmer Inc. acquired a new position in Palomar in the 3rd quarter worth about $39,000. LPL Financial LLC acquired a new position in Palomar in the 2nd quarter worth about $203,000. Citadel Advisors LLC acquired a new position in Palomar in the 2nd quarter worth about $220,000. Finally, Cubist Systematic Strategies LLC acquired a new position in Palomar in the 2nd quarter worth about $226,000. 54.61% of the stock is currently owned by institutional investors.

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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