In a report released today, Robert Farnam from Boenning & Scattergood maintained a Buy rating on Kingstone Companies Inc (NASDAQ: KINS), with a price target of $20. The company’s shares opened today at $17.
Farnam said:
“We are raising our 2018 and 2019 operating EPS estimates to $0.90 (from $0.80) and $1.40 (from $1.30), respectively. The increased estimates reflect higher net premium growth, partially offset by lower ceding commissions. We also anticipate a return of premiums previously ceded to the quota share treaties, which will further boost net premiums written in 3Q18.”
According to TipRanks.com, Farnam is a 1-star analyst with an average return of -0.2% and a 48.3% success rate. Farnam covers the Financial sector, focusing on stocks such as 1347 Property Insurance Holdings Inc, Hallmark Financial Services, and Selective Insurance Group.
The word on The Street in general, suggests a Moderate Buy analyst consensus rating for Kingstone Companies Inc with a $21 average price target.
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The company has a one-year high of $21.70 and a one-year low of $13.21. Currently, Kingstone Companies Inc has an average volume of 19.53K.
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 KINS in relation to earlier this year.
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Kingstone Cos., Inc. is a holding company, which engages in the provision of property and casualty insurance policies to individuals and small businesses through its wholly owned subsidiary, Kingstone Insurance Company. It writes business exclusively through independent retail and wholesale agents and brokers.
