Palomar (NASDAQ:PLMR) Given New $44.00 Price Target at SunTrust Banks

Palomar (NASDAQ:PLMR) had its price objective upped by equities researchers at SunTrust Banks to $44.00 in a research note issued on Wednesday, The Fly reports. The brokerage presently has a “buy” rating on the stock. SunTrust Banks’ price objective would suggest a potential upside of 28.47% from the company’s previous close.

Other equities analysts have also issued reports about the company. Evercore ISI reissued a “buy” rating on shares of Palomar in a report on Monday. JPMorgan Chase & Co. increased their price objective on Palomar from $27.00 to $40.00 and gave the company an “overweight” rating in a report on Tuesday. Barclays assumed coverage on Palomar in a report on Monday, May 13th. They set an “equal weight” rating and a $20.00 price objective for the company. Zacks Investment Research downgraded Palomar from a “buy” rating to a “hold” rating in a research report on Thursday, July 18th. Finally, Keefe, Bruyette & Woods initiated coverage on Palomar in a research report on Sunday, May 12th. They set an “outperform” rating and a $24.00 target price on the stock. Two investment analysts have rated the stock with a hold rating and five have issued a buy rating to the company’s stock. Palomar currently has a consensus rating of “Buy” and an average target price of $34.20.

NASDAQ PLMR traded down $0.08 on Wednesday, hitting $34.25. 182,761 shares of the stock traded hands, compared to its average volume of 114,741. The stock’s fifty day simple moving average is $26.71. Palomar has a 12 month low of $18.06 and a 12 month high of $34.74. The company has a current ratio of 0.39, a quick ratio of 0.39 and a debt-to-equity ratio of 0.19.

Palomar (NASDAQ:PLMR) last announced its quarterly earnings data on Monday, August 12th. The company reported $0.36 earnings per share for the quarter, beating the consensus estimate of $0.30 by $0.06. The firm had revenue of $25.41 million for the quarter, compared to the consensus estimate of $24.25 million. Analysts forecast that Palomar will post 1.66 EPS for the current year.

Several hedge funds have recently added to or reduced their stakes in the company. Strs Ohio purchased a new position in Palomar in the 2nd quarter worth approximately $36,000. JPMorgan Chase & Co. bought a new stake in shares of Palomar during the 2nd quarter valued at $39,000. Quantitative Systematic Strategies LLC bought a new stake in shares of Palomar during the 2nd quarter valued at $201,000. LPL Financial LLC bought a new position in Palomar in the 2nd quarter worth $203,000. Finally, Cubist Systematic Strategies LLC bought a new position in Palomar in the 2nd quarter worth $226,000. Hedge funds and other institutional investors own 1.57% of the company’s stock.

About Palomar

There is no company description available for Palomar Holdings Inc

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Analyst Recommendations for Palomar (NASDAQ:PLMR)

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