EMC Insurance Group (NASDAQ:EMCI) was downgraded by Zacks from an “outperform” rating to a “neutral” rating in a research note issued to investors on Tuesday, Analyst Ratings Network reports. They currently have a $32.90 price target on the stock. Zacks‘ target price suggests a potential upside of 9.48% from the company’s current price.
Several other analysts have also recently commented on the stock. Analysts at Barclays Capital downgraded shares of EMC Insurance Group from an “overweight” rating to an “equal weight” rating in a research note to investors on Tuesday, September 24th. Separately, analysts at Keefe, Bruyette & Woods raised their price target on shares of EMC Insurance Group from $28.00 to $30.00 in a research note to investors on Friday, August 9th. Finally, analysts at Pacific Crest raised their price target on shares of EMC Insurance Group from $30.00 to $32.00 in a research note to investors on Friday, July 26th. They now have an “outperform” rating on the stock. Three equities research analysts have rated the stock with a hold rating, eight have issued a buy rating and one has given a strong buy rating to the company’s stock. The stock has an average rating of “Buy” and a consensus price target of $30.99.
Shares of EMC Insurance Group (NASDAQ:EMCI) traded up 0.40% during mid-day trading on Tuesday, hitting $30.17. 9,279 shares of the company’s stock traded hands. EMC Insurance Group has a 52-week low of $19.85 and a 52-week high of $30.77. The stock has a 50-day moving average of $28.7 and a 200-day moving average of $28.16. The company has a market cap of $396.0 million and a price-to-earnings ratio of 9.31.
EMC Insurance Group (NASDAQ:EMCI) last posted its quarterly earnings results on Thursday, August 8th. The company reported $0.47 earnings per share for the quarter, beating the analysts’ consensus estimate of $0.30 by $0.17. The company had revenue of $127.20 million for the quarter, compared to the consensus estimate of $125.37 million. On average, analysts predict that EMC Insurance Group will post $2.90 earnings per share for the current fiscal year.
EMC Insurance Group Inc is an insurance holding company. The Company conducts operations in property and casualty insurance, and reinsurance through its subsidiaries.
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