Zacks: 1347 Property Insurance Holdings Inc (PIH) Given Consensus Rating of “Strong Buy” by Analysts

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Shares of 1347 Property Insurance Holdings Inc (NASDAQ:PIH) have been assigned a consensus broker rating score of 1.00 (Strong Buy) from the one brokers that provide coverage for the stock, Zacks Investment Research reports. One analyst has rated the stock with a strong buy recommendation.

Brokerages have set a 12 month consensus price objective of $9.00 for the company and are forecasting that the company will post ($0.01) earnings per share for the current quarter, according to Zacks. Zacks has also given 1347 Property Insurance an industry rank of 184 out of 257 based on the ratings given to related companies.

A number of equities research analysts have recently issued reports on the stock. ValuEngine raised shares of 1347 Property Insurance from a “sell” rating to a “hold” rating in a report on Monday, July 16th. Zacks Investment Research raised shares of 1347 Property Insurance from a “strong sell” rating to a “hold” rating in a report on Wednesday, October 17th. TheStreet downgraded shares of 1347 Property Insurance from a “b-” rating to a “c” rating in a report on Friday, September 7th. Finally, Boenning Scattergood reissued a “buy” rating and issued a $9.00 price target on shares of 1347 Property Insurance in a report on Wednesday, August 15th.

Shares of 1347 Property Insurance stock traded down $0.05 on Friday, reaching $5.63. The stock had a trading volume of 8,424 shares, compared to its average volume of 4,633. 1347 Property Insurance has a 1 year low of $5.25 and a 1 year high of $8.25. The company has a market cap of $34.95 million, a price-to-earnings ratio of 43.31 and a beta of 0.37.

1347 Property Insurance (NASDAQ:PIH) last announced its quarterly earnings results on Tuesday, August 14th. The insurance provider reported ($0.04) earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.05 by ($0.09). 1347 Property Insurance had a return on equity of 3.68% and a net margin of 2.51%. The firm had revenue of $14.28 million during the quarter, compared to analysts’ expectations of $14.70 million. As a group, equities research analysts expect that 1347 Property Insurance will post 0.83 EPS for the current year.

A hedge fund recently bought a new stake in 1347 Property Insurance stock. Dimensional Fund Advisors LP bought a new stake in 1347 Property Insurance Holdings Inc (NASDAQ:PIH) during the second quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The firm bought 15,405 shares of the insurance provider’s stock, valued at approximately $109,000. Dimensional Fund Advisors LP owned approximately 0.26% of 1347 Property Insurance at the end of the most recent reporting period. Hedge funds and other institutional investors own 25.31% of the company’s stock.

About 1347 Property Insurance

1347 Property Insurance Holdings, Inc, through its subsidiaries, provides property and casualty insurance products to individuals in Louisiana, Florida, and Texas. The company offers homeowners' insurance, manufactured home insurance, dwelling fire insurance, and wind/hail insurance products, as well as reinsurance products.

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