HRTG - Gotta love the analysts:
Heritage Insurance downgraded to Market Perform at JMP Securities
The Fly - Mar 13 04:48 EDT
JMP Securities analyst Matthew Carletti downgraded Heritage Insurance to Market Perform from Outperform without a price target. The shares have meaningfully surpassed the firm's previous $7 price target and are now fairly valued, the analyst tells investors in a research note. The firm says that despite Heritage's recent capital raise, its excess capital is limited, and therefore, its growth will be as well.
Heritage Insurance price target raised by $2 at Truist, here's why
The Fly - Mar 13 09:28 EDT
Truist raised the firm's price target on Heritage Insurance to $11 from $9 and keeps a Buy rating on the shares after its Q4 earnings beat. The company's actions addressing rate adequacy over the past two years are now being reflected in the financial statements, the analyst tells investors in a research note. Heritage Insurance also touched on the company's strategic reduction of its multi-state personal lines polices-in-force to manage reinsurance costs and improve the overall quality of the book as they focus on rate adequacy and selective geographic growth, the firm added.
I have seen lots of $1 stocks with strong earnings and solid balance sheets triple, quadruple and more, but I have yet to see one go below zero.
