United Fire Group Sees Large Volume Increase Following Better-Than-Expected Earnings (UFCS)
Shares of United Fire Group (NASDAQ:UFCS) saw unusually-strong trading volume on Tuesday after the company announced better than expected quarterly earnings, AnalystRatingsNetwork.com reports. Approximately 132,312 shares traded hands during trading, an increase of 91% from the previous session’s volume of 69,132 shares.The stock last traded at $31.73 and had previously closed at $27.37.
The company reported $1.04 EPS for the quarter, beating the Thomson Reuters consensus estimate of $0.62 by $0.42. The company had revenue of $228.99 million for the quarter, compared to the consensus estimate of $222.36 million.
A number of research firms have recently commented on UFCS. Analysts at Sandler O’Neill upgraded shares of United Fire Group from a “hold” rating to a “buy” rating in a research note on Tuesday, February 11th. Separately, analysts at TheStreet downgraded shares of United Fire Group from a “buy” rating to a “hold” rating in a research note on Friday, February 7th.
The stock has a 50-day moving average of $26.82 and a 200-day moving average of $28.94. The company has a market cap of $800.2 million and a P/E ratio of 14.79.
United Fire Group, Inc, formerly United Fire & Casualty Company, is engaged in the business of writing property and casualty insurance and life insurance and selling annuities.
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