In a report released today, Robert Farnam from Boenning & Scattergood maintained a Buy rating on Conifer Holdings (CNFR). The company’s shares closed on Friday at $5.61.
Farnam observed:
“We believe management is doing the right things – it’s just taking longer than we anticipated to right the ship. We modestly lowered our target price, but we believe there’s enough upside to maintain our Outperform rating.”
According to TipRanks.com, Farnam is a 1-star analyst with an average return of -2.3% and a 41.7% success rate. Farnam covers the Financial sector, focusing on stocks such as Argo Group International Holdings Ltd, 1347 Property Insurance Holdings Inc, and Selective Insurance Group.
Currently, the analyst consensus on Conifer Holdings is a Moderate Buy with an average price target of $7.
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Based on Conifer Holdings’ latest earnings release for the quarter ending September 30, the company reported a quarterly GAAP net loss of $3.55 million. In comparison, last year the company had a GAAP net loss of $18.9 million.
Based on the recent corporate insider activity of 8 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 CNFR in relation to earlier this year.
TipRanks has tracked 36,000 company insiders and found that a few of them are better than others when it comes to timing their transactions. See which 3 stocks are most likely to make moves following their insider activities.
Conifer Holdings, Inc. engages in the sale of property and casualty insurance products. It operates through the Commercial and Personal Lines business segment. The Commercial Lines segment offers coverage for property, liability, automobile, and miscellaneous coverage.
