Patriot National Inc. (PN) Trading Up 12%
Patriot National Inc. (NYSE:PN)’s share price was up 12% during mid-day trading on Wednesday . The company traded as high as $8.41 and last traded at $8.39, with a volume of 166,943 shares. The stock had previously closed at $7.49.
A number of equities analysts have recently issued reports on PN shares. Zacks Investment Research upgraded Patriot National from a “sell” rating to a “hold” rating in a research report on Thursday, July 14th. Compass Point downgraded Patriot National from a “buy” rating to a “neutral” rating and lowered their price objective for the stock from $13.00 to $10.00 in a research report on Friday, May 13th. Four investment analysts have rated the stock with a hold rating and one has issued a buy rating to the company’s stock. The stock has an average rating of “Hold” and a consensus target price of $10.00.
The company has a 50 day moving average of $7.85 and a 200-day moving average of $7.20. The firm has a market capitalization of $215.45 million and a price-to-earnings ratio of 76.48.
Patriot National (NYSE:PN) last posted its earnings results on Thursday, May 12th. The company reported $0.21 EPS for the quarter, missing the Thomson Reuters’ consensus estimate of $0.23 by $0.02. The company earned $64.60 million during the quarter, compared to analyst estimates of $62.35 million. Equities analysts forecast that Patriot National Inc. will post $0.97 EPS for the current fiscal year.
Patriot National, Inc is an independent national provider of technology-enabled outsourcing solutions that help insurance carriers, employers and other clients mitigate risk and comply with complex regulations. It offers a range of end-to-end insurance related and specialty services. The Company principally offers approximately two types of services: front-end services, such as brokerage, underwriting and policyholder services, and back-end services, such as claims adjudication and administration.
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