In a report released today, Robert Farnam from Boenning & Scattergood maintained a Buy rating on 1347 Property Insurance Holdings Inc (NASDAQ: PIH), with a price target of $9. The company’s shares closed yesterday at $7.45.
Farnam said:
“We maintain our Outperform rating with a target price of $9.00, which is a little over 1.0x our forward BVPS estimate.”
According to TipRanks.com, Farnam is a 1-star analyst with an average return of -0.5% and a 46.4% success rate. Farnam covers the Financial sector, focusing on stocks such as Hallmark Financial Services, Selective Insurance Group, and Kingstone Companies Inc.
The word on The Street in general, suggests a Moderate Buy analyst consensus rating for 1347 Property Insurance Holdings Inc with a $9 average price target.
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Based on 1347 Property Insurance Holdings Inc’s latest earnings release for the quarter ending March 31, the company reported a quarterly net profit of $1.95 million. In comparison, last year the company had a net profit of $921K.
Based on the recent corporate insider activity of 32 insiders, corporate insider sentiment is positive on the stock. This means that over the past quarter there has been an increase of insiders buying their shares of PIH in relation to earlier this year.
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1347 Property Insurance Holdings, Inc. is an insurance holding company, which engages in the provision of personal property and casualty insurance services in coastal markets. It offers homeowners, manufactured home, and dwelling fire. The company was founded on October 2, 2012 and is headquartered in Tampa, FL.
