Boenning & Scattergood analyst Robert Farnam maintained a Buy rating on Employers Holdings Inc (EIG) today and set a price target of $50. The company’s shares closed yesterday at $43.85.
Farnam wrote:
“We are raising our target price to $53.00 (from $50.00) and maintaining our Outperform rating. The target price is approximately 1.25 times our 12-month forward adjusted BVPS estimate of $42.01. This is the same multiple we previously used to calculate the target price. The shares are currently trading near 1.1x adjusted BVPS – we believe the P/B multiple may expand if EIG continues to book higher-than-expected favorable reserve development.”
According to TipRanks.com, Farnam has 0 stars on 0-5 star ranking scale with an average return of -9.6% and a 36.5% success rate. Farnam covers the Financial sector, focusing on stocks such as Argo Group International Holdings Ltd, Hallmark Financial Services, and Selective Insurance Group.
Currently, the analyst consensus on Employers Holdings Inc is a Hold with an average price target of $42.
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Employers Holdings Inc’s market cap is currently $1.41B and has a P/E ratio of 8.69. The company has a Price to Book ratio of 1.32.
Based on the recent corporate insider activity of 50 insiders, corporate insider sentiment is negative on the stock.
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Employers Holdings, Inc. engages in the provision of workers” compensation products and services. It offers insurance focused on select small businesses in low to medium hazard industries. The company was founded in April 2005 and is headquartered in Reno, NV.
