Zacks Upgrades EMC Insurance Group to Neutral (EMCI)
EMC Insurance Group (NASDAQ:EMCI) was upgraded by Zacks from an “underperform” rating to a “neutral” rating in a research report issued to clients and investors on Wednesday, American Banking and Market News reports. The firm currently has a $30.90 price target on the stock. Zacks‘ price objective suggests a potential downside of 0.68% from the stock’s previous close.
EMCI has been the subject of a number of other recent research reports. Analysts at Macquarie initiated coverage on shares of EMC Insurance Group in a research note to investors on Tuesday. They set a “neutral” rating on the stock. Separately, analysts at Atlantic Securities initiated coverage on shares of EMC Insurance Group in a research note to investors on Tuesday. They set an “overweight” rating on the stock. Finally, analysts at Sandler O’Neill raised their price target on shares of EMC Insurance Group from $31.00 to $35.00 in a research note to investors on Friday, November 8th. Three research analysts have rated the stock with a hold rating, ten have given a buy rating and one has assigned a strong buy rating to the company’s stock. EMC Insurance Group presently has a consensus rating of “Buy” and an average target price of $30.28.
Shares of EMC Insurance Group (NASDAQ:EMCI) traded up 0.20% during mid-day trading on Wednesday, hitting $30.20. 7,837 shares of the company’s stock traded hands. EMC Insurance Group has a 52 week low of $23.18 and a 52 week high of $35.48. The stock’s 50-day moving average is $30.6 and its 200-day moving average is $30.04. The company has a market cap of $397.8 million and a P/E ratio of 9.64.
EMC Insurance Group (NASDAQ:EMCI) last posted its quarterly earnings results on Thursday, November 7th. The company reported $0.50 EPS for the quarter, missing the Thomson Reuters consensus estimate of $0.62 by $0.12. The company had revenue of $107.96 million for the quarter, compared to the consensus estimate of $130.12 million. Analysts expect that EMC Insurance Group will post $2.79 EPS for the current fiscal year.
EMC Insurance Group Inc is an insurance holding company. The Company conducts operations in property and casualty insurance, and reinsurance through its subsidiaries.
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