Patriot National Inc. (PN) Sees Strong Trading Volume
Patriot National Inc. (NYSE:PN) shares saw an uptick in trading volume on Monday . 221,690 shares were traded during trading, an increase of 14% from the previous session’s volume of 195,115 shares.The stock last traded at $9.56 and had previously closed at $9.55.
A number of brokerages have recently commented on PN. Compass Point lowered Patriot National from a “buy” rating to a “neutral” rating and lowered their price objective for the company from $13.00 to $10.00 in a report on Friday, May 13th. Zacks Investment Research raised Patriot National from a “strong sell” rating to a “hold” rating in a report on Thursday, April 28th. Four research analysts have rated the stock with a hold rating and one has issued a buy rating to the company’s stock. Patriot National presently has a consensus rating of “Hold” and a consensus target price of $10.00.
The stock’s 50 day moving average price is $8.14 and its 200-day moving average price is $7.39. The firm has a market cap of $263.48 million and a PE ratio of 93.52.
Patriot National (NYSE:PN) last announced its quarterly earnings results on Thursday, May 12th. The company reported $0.21 earnings per share for the quarter, missing the Thomson Reuters’ consensus estimate of $0.23 by $0.02. The company had revenue of $64.60 million for the quarter, compared to analyst estimates of $62.35 million. On average, equities research analysts forecast that Patriot National Inc. will post $0.97 earnings per share 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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