Trupanion Inc (TRUP) Rating Increased to Buy at Zacks Investment Research
Trupanion Inc (NYSE:TRUP) was upgraded by Zacks Investment Research from a “hold” rating to a “buy” rating in a research report issued to clients and investors on Wednesday. The firm presently has a $29.00 price objective on the financial services provider’s stock. Zacks Investment Research‘s price target would indicate a potential upside of 8.09% from the stock’s current price.
According to Zacks, “Trupanion, Inc. operates as a direct-to-consumer monthly subscription service provider of a medical insurance plan for cats and dogs. It operates primarily in Canada, Puerto Rico, and the United States. The Company serves pet owners and veterinarians. Trupanion, Inc. is headquartered in Seattle, Washington. “
Several other brokerages have also recently commented on TRUP. BidaskClub cut shares of Trupanion from a “strong-buy” rating to a “buy” rating in a research report on Tuesday, July 25th. Canaccord Genuity raised their price target on shares of Trupanion from $28.00 to $29.00 and gave the stock a “buy” rating in a research report on Wednesday, August 2nd. Cowen and Company restated an “outperform” rating and issued a $28.00 price target (up from $19.00) on shares of Trupanion in a research report on Wednesday, August 2nd. Stifel Nicolaus reaffirmed a “buy” rating and issued a $24.00 price target (up from $18.00) on shares of Trupanion in a report on Wednesday, August 2nd. Finally, Royal Bank Of Canada lifted their price target on shares of Trupanion from $19.00 to $26.00 and gave the company an “outperform” rating in a report on Wednesday, August 2nd. Two analysts have rated the stock with a hold rating and six have issued a buy rating to the company’s stock. The stock has an average rating of “Buy” and an average target price of $26.50.
Trupanion (TRUP) traded up 4.58% during midday trading on Wednesday, hitting $28.06. 275,348 shares of the stock were exchanged. Trupanion has a 12-month low of $13.71 and a 12-month high of $28.26. The firm has a 50 day moving average of $23.17 and a 200-day moving average of $20.14. The stock’s market cap is $841.66 million.
Trupanion (NYSE:TRUP) last released its quarterly earnings results on Tuesday, August 1st. The financial services provider reported ($0.02) EPS for the quarter, topping the consensus estimate of ($0.03) by $0.01. Trupanion had a return on equity of 3.57% and a net margin of 0.71%. The firm had revenue of $58.30 million for the quarter, compared to analyst estimates of $57.58 million. During the same period in the previous year, the company posted ($0.03) EPS. Trupanion’s revenue for the quarter was up 27.3% on a year-over-year basis. On average, equities analysts expect that Trupanion will post ($0.09) earnings per share for the current year.
In other news, COO Ian Moffat sold 8,552 shares of the company’s stock in a transaction dated Friday, August 4th. The shares were sold at an average price of $23.20, for a total transaction of $198,406.40. Following the completion of the transaction, the chief operating officer now owns 8,552 shares in the company, valued at $198,406.40. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, insider Darryl Rawlings sold 3,500 shares of the stock in a transaction dated Thursday, July 20th. The stock was sold at an average price of $22.51, for a total transaction of $78,785.00. Following the completion of the sale, the insider now directly owns 1,460,005 shares in the company, valued at approximately $32,864,712.55. The disclosure for this sale can be found here. Insiders sold 50,552 shares of company stock worth $1,151,754 over the last ninety days.
A number of large investors have recently modified their holdings of TRUP. California State Teachers Retirement System boosted its stake in Trupanion by 37.3% during the 2nd quarter. California State Teachers Retirement System now owns 39,784 shares of the financial services provider’s stock valued at $890,000 after purchasing an additional 10,800 shares during the period. The Manufacturers Life Insurance Company grew its position in Trupanion by 55.0% in the 2nd quarter. The Manufacturers Life Insurance Company now owns 19,381 shares of the financial services provider’s stock worth $433,000 after purchasing an additional 6,874 shares during the last quarter. Symmetry Peak Management LLC bought a new position in Trupanion in the 2nd quarter worth about $672,000. State Street Corp grew its position in Trupanion by 54.4% in the 2nd quarter. State Street Corp now owns 346,367 shares of the financial services provider’s stock worth $7,752,000 after purchasing an additional 121,990 shares during the last quarter. Finally, Lagoda Investment Management L.P. bought a new position in Trupanion in the 2nd quarter worth about $2,944,000.
Trupanion, Inc provides medical insurance plans for cats and dogs throughout the United States, Canada and Puerto Rico. The Company operates in two business segments: subscription business and other business. The subscription business segment includes monthly subscriptions for its medical plan, which are marketed to consumers.
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