Share on StockTwits
 

Shares of EMC Insurance Group (NASDAQ:EMCI) traded up 6.8% during trading on Friday following a stronger than expected earnings report, AR Network reports. The stock traded as high as $31.43 and last traded at $30.27, with a volume of 69,378 shares changing hands. The stock had previously closed at $28.33.

The company reported $1.20 earnings per share (EPS) for the quarter, beating the consensus estimate of $1.18 by $0.02.

EMCI has been the subject of a number of recent research reports. Analysts at Sandler O’Neill upgraded shares of EMC Insurance Group from a “hold” rating to a “buy” rating in a research note on Friday. They now have a $32.00 price target on the stock, up previously from $30.00. Separately, analysts at Keefe, Bruyette & Woods upgraded shares of EMC Insurance Group from a “market perform” rating to an “outperform” rating in a research note on Friday. They now have a $35.00 price target on the stock, up previously from $30.00. Finally, analysts at Monness Crespi & Hardt downgraded shares of EMC Insurance Group to a “neutral” rating in a research note on Thursday, January 16th. Four research analysts have rated the stock with a hold rating, twelve have given a buy rating and one has issued a strong buy rating to the stock. The company presently has a consensus rating of “Buy” and an average price target of $30.42.

The stock’s 50-day moving average is $28.59 and its 200-day moving average is $29.96. The company has a market cap of $401.4 million and a P/E ratio of 9.06.

EMC Insurance Group Inc is an insurance holding company. The Company conducts operations in property and casualty insurance, and reinsurance through its subsidiaries.

Get Analysts' Upgrades and Downgrades via Email - Stay on top of analysts' coverage with Analyst Ratings Network's FREE daily email newsletter that provides a concise list of analysts' upgrades and downgrades. Click here to register now.