Zacks: Conifer Holdings Inc (CNFR) Receives Average Rating of “Buy” from Brokerages
Shares of Conifer Holdings Inc (NASDAQ:CNFR) have earned an average broker rating score of 2.00 (Buy) from the two analysts that provide coverage for the company, Zacks Investment Research reports. One research analyst has rated the stock with a hold recommendation and one has issued a strong buy recommendation on the company.
Analysts have set a 12-month consensus price objective of $7.00 for the company and are forecasting that the company will post $0.02 EPS for the current quarter, according to Zacks. Zacks has also assigned Conifer an industry rank of 173 out of 255 based on the ratings given to related companies.
CNFR has been the topic of a number of research analyst reports. Raymond James reissued a “buy” rating on shares of Conifer in a report on Monday, August 13th. ValuEngine raised shares of Conifer from a “hold” rating to a “buy” rating in a report on Wednesday, July 4th. Finally, Zacks Investment Research raised shares of Conifer from a “sell” rating to a “hold” rating in a report on Friday, September 7th.
A hedge fund recently raised its stake in Conifer stock. Northpointe Capital LLC lifted its stake in Conifer Holdings Inc (NASDAQ:CNFR) by 2.6% in the second quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 457,842 shares of the insurance provider’s stock after acquiring an additional 11,569 shares during the quarter. Northpointe Capital LLC owned 5.37% of Conifer worth $2,884,000 as of its most recent filing with the Securities & Exchange Commission. Hedge funds and other institutional investors own 26.20% of the company’s stock.
CNFR traded up $0.27 during midday trading on Friday, reaching $5.73. The company had a trading volume of 1,203 shares, compared to its average volume of 2,192. The company has a current ratio of 0.47, a quick ratio of 0.47 and a debt-to-equity ratio of 0.58. Conifer has a 12-month low of $5.00 and a 12-month high of $7.20.
Conifer (NASDAQ:CNFR) last announced its quarterly earnings results on Wednesday, August 8th. The insurance provider reported ($0.02) EPS for the quarter, missing the Zacks’ consensus estimate of $0.04 by ($0.06). The business had revenue of $25.27 million for the quarter, compared to analysts’ expectations of $23.33 million. Conifer had a negative net margin of 20.48% and a negative return on equity of 33.42%. Sell-side analysts expect that Conifer will post 0.28 EPS for the current fiscal year.
Conifer Holdings, Inc, an insurance holding company, offers insurance coverage in specialty commercial and personal product lines. The company underwrites various specialty insurance products, including property, general liability, commercial multi-peril, liquor liability, and automobile policies. It serves the commercial insurance needs of owner-operated businesses in the markets, such as hospitality, which includes restaurants, bars, taverns, and bowling centers, as well as small grocery and convenience stores; artisan contractors comprising plumbers, painters, carpenters, electricians, and other independent contractors; and security service providers, such as companies that provide security guard services, security alarm products and services, and private investigative services.
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