Kingstone Companies (KINS) Rating Increased to Strong-Buy at Zacks Investment Research

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Kingstone Companies (NASDAQ:KINS) was upgraded by Zacks Investment Research from a “strong sell” rating to a “strong-buy” rating in a report released on Thursday. The firm currently has a $21.00 target price on the insurance provider’s stock. Zacks Investment Research‘s target price would suggest a potential upside of 20.00% from the company’s current price.

According to Zacks, “Kingstone Companies, Inc., formerly DCAP Group, Inc., is engaged in the ownership of an insurance company. The Company focuses on automobile, motorcycle and homeowners insurance and its customer base is primarily individuals rather than businesses. There are three Atlantic Insurance locations in eastern Pennsylvania. All of the Barry Scott, Atlantic Insurance and Accurate Agency locations are wholly owned by the Company. “

A number of other brokerages have also recently commented on KINS. ValuEngine raised shares of Kingstone Companies from a “hold” rating to a “buy” rating in a report on Friday, August 24th. Boenning Scattergood set a $20.00 target price on shares of Kingstone Companies and gave the company a “buy” rating in a report on Wednesday, August 22nd.

KINS opened at $17.50 on Thursday. The company has a debt-to-equity ratio of 0.33, a current ratio of 0.57 and a quick ratio of 0.57. Kingstone Companies has a twelve month low of $13.20 and a twelve month high of $21.70. The company has a market cap of $202.61 million, a PE ratio of 18.62 and a beta of 1.08.

Kingstone Companies (NASDAQ:KINS) last announced its earnings results on Thursday, August 9th. The insurance provider reported $0.26 EPS for the quarter, missing the Zacks’ consensus estimate of $0.33 by ($0.07). Kingstone Companies had a net margin of 5.83% and a return on equity of 7.16%. The business had revenue of $27.55 million for the quarter, compared to analysts’ expectations of $29.70 million. As a group, research analysts predict that Kingstone Companies will post 0.9 EPS for the current fiscal year.

In other Kingstone Companies news, Director Carla D’andre bought 2,000 shares of Kingstone Companies stock in a transaction on Thursday, August 16th. The stock was acquired at an average cost of $16.67 per share, with a total value of $33,340.00. The purchase was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. Over the last ninety days, insiders have acquired 6,000 shares of company stock valued at $100,720. 10.30% of the stock is owned by corporate insiders.

Hedge funds have recently made changes to their positions in the business. Russell Investments Group Ltd. bought a new position in shares of Kingstone Companies in the first quarter worth approximately $123,000. First Trust Advisors LP bought a new position in shares of Kingstone Companies in the second quarter worth approximately $176,000. Globeflex Capital L P boosted its position in shares of Kingstone Companies by 14.8% in the second quarter. Globeflex Capital L P now owns 45,700 shares of the insurance provider’s stock worth $772,000 after purchasing an additional 5,900 shares during the period. Salzhauer Michael boosted its position in shares of Kingstone Companies by 9.8% in the second quarter. Salzhauer Michael now owns 64,989 shares of the insurance provider’s stock worth $1,098,000 after purchasing an additional 5,785 shares during the period. Finally, Wells Fargo & Company MN boosted its position in shares of Kingstone Companies by 5.0% in the first quarter. Wells Fargo & Company MN now owns 76,712 shares of the insurance provider’s stock worth $1,289,000 after purchasing an additional 3,666 shares during the period. 50.81% of the stock is owned by institutional investors and hedge funds.

About Kingstone Companies

Kingstone Companies, Inc, through its subsidiary, Kingstone Insurance Company, underwrites property and casualty insurance products to small businesses and individuals in New York. The company provides personal lines insurance products, such as homeowners and dwelling fire multi-peril, cooperative/condominium, renter, and personal umbrella policies.

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