Palomar (NASDAQ:PLMR) PT Raised to $50.00

Palomar (NASDAQ:PLMR) had its target price lifted by equities researchers at SunTrust Banks to $50.00 in a research note issued to investors on Wednesday, The Fly reports. The brokerage currently has a “positive” rating on the stock. SunTrust Banks’ price objective suggests a potential upside of 10.82% from the company’s current price. SunTrust Banks also issued estimates for Palomar’s Q4 2019 earnings at $0.45 EPS, FY2019 earnings at $1.71 EPS, FY2020 earnings at $1.95 EPS and FY2021 earnings at $2.30 EPS. The analysts noted that the move was a valuation call.

A number of other equities research analysts have also weighed in on PLMR. Zacks Investment Research lowered shares of Palomar from a “strong-buy” rating to a “hold” rating in a report on Wednesday, October 16th. Barclays boosted their target price on shares of Palomar from $30.00 to $36.00 and gave the stock an “equal weight” rating in a report on Wednesday, October 2nd. Evercore ISI reissued a “buy” rating on shares of Palomar in a report on Monday, August 12th. JMP Securities initiated coverage on shares of Palomar in a report on Wednesday, October 16th. They set an “outperform” rating and a $50.00 target price on the stock. Finally, JPMorgan Chase & Co. upped their price objective on shares of Palomar from $27.00 to $40.00 and gave the company an “overweight” rating in a research note on Tuesday, August 13th. Two investment analysts have rated the stock with a hold rating and six have issued a buy rating to the stock. The stock has a consensus rating of “Buy” and a consensus target price of $43.67.

PLMR traded up $0.28 during trading on Wednesday, reaching $45.12. 110,500 shares of the company’s stock were exchanged, compared to its average volume of 159,305. Palomar has a one year low of $18.06 and a one year high of $46.68. The firm has a fifty day moving average price of $40.89 and a two-hundred day moving average price of $30.21.

Palomar (NASDAQ:PLMR) last posted its earnings results on Monday, November 4th. The company reported $0.40 earnings per share for the quarter, missing the Zacks’ consensus estimate of $0.41 by ($0.01). The business had revenue of $30.10 million for the quarter, compared to analysts’ expectations of $30.09 million. As a group, equities research analysts predict that Palomar will post 1.74 EPS for the current year.

In other news, major shareholder Vi Gp Aiv Ltd. Genstar sold 5,153,500 shares of the company’s stock in a transaction on Monday, September 30th. The shares were sold at an average price of $35.04, for a total value of $180,578,640.00. Also, insider Andrew T. Robinson sold 15,000 shares of the company’s stock in a transaction on Wednesday, September 25th. The shares were sold at an average price of $36.50, for a total transaction of $547,500.00. Over the last ninety days, insiders sold 6,037,500 shares of company stock worth $211,694,890.

Several large investors have recently bought and sold shares of the company. Strs Ohio acquired a new position in shares of Palomar during the 2nd quarter valued at $36,000. JPMorgan Chase & Co. acquired a new position in shares of Palomar during the 2nd quarter valued at $39,000. Atwood & Palmer Inc. acquired a new position in shares of Palomar during the 3rd quarter valued at $39,000. Quantitative Systematic Strategies LLC acquired a new position in shares of Palomar during the 2nd quarter valued at $201,000. Finally, LPL Financial LLC acquired a new position in shares of Palomar during the 2nd quarter valued at $203,000. 30.34% of the stock is currently owned by institutional investors.

Palomar Company Profile

There is no company description available for Palomar Holdings Inc

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The Fly

Analyst Recommendations for Palomar (NASDAQ:PLMR)

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