Heritage Insurance (NYSE: HRTG) Price target reduced to $6.00

Wealth Insurance (NYSE: HRTG – Get an Appraisal) had its target price reduced by Piper Sandler stock analysts to $6.00 in a research note released Thursday, Stock Target Advisor reports. Piper Sandler’s target price would indicate a potential upside of 52.28% from the company’s previous close.

Other research analysts have also recently published reports on the stock. StockNews.com downgraded Heritage Insurance shares from a “buy” rating to a “hold” rating in a Thursday, May 19 research report. TheStreet downgraded the shares of Heritage Insurance from a “c-” rating to a “d+” rating in a research report on Tuesday, May 3. Finally, Zacks Investment Research downgraded shares of Heritage Insurance from a “buy” rating to a “hold” rating in a Wednesday, May 4 research report. Two analysts gave the stock a hold rating and two gave the stock a buy rating. According to data from MarketBeat, the company has an average rating of “Buy” and a consensus price target of $8.33.

HRTG rose $0.08 on Thursday, hitting $3.94. 349,332 shares of the company were traded, with an average volume of 229,688. The stock’s 50-day moving average price is $4.66 and its 200-day moving average price is $5.69. Heritage Insurance has a 52-week minimum of $2.85 and a 52-week maximum of $9.20. The company has a market capitalization of $104.29 million, a price-earnings ratio of -1.07 and a beta of 0.81. The company has a debt ratio of 0.44, a current ratio of 0.62 and a quick ratio of 0.62.

Heritage Insurance (NYSE:HRTG – Get Rating) last reported quarterly earnings data on Thursday, May 5. The insurance provider reported ($1.15) EPS for the quarter, missing analyst consensus estimates of $0.13 per ($1.28). Heritage Insurance had a negative net margin of 15.61% and a negative return on equity of 10.95%. In the same quarter of the previous year, the company achieved EPS of ($0.19). As a group, equity research analysts expect Heritage Insurance to post -1.35 earnings per share for the current fiscal year.

Institutional investors have recently changed their stake in the company. Point72 Hong Kong Ltd acquired a new stake in shares of Heritage Insurance in the third quarter worth $27,000. Herold Advisors Inc. acquired a new position in Heritage Insurance during Q1 worth $43,000. McIlrath & Eck LLC acquired a new position in Heritage Insurance during Q1 worth $43,000. First Quadrant LLC CA acquired a new position in Heritage Insurance during Q1 worth $44,000. Finally, Ensign Peak Advisors Inc acquired a new position in Heritage Insurance during Q4 worth $39,000. Institutional investors and hedge funds hold 59.33% of the company’s shares.

Heritage Insurance Company Profile (Get a rating)

Heritage Insurance Holdings, Inc., through its subsidiaries, offers personal and commercial home insurance products. The company provides personal residential property insurance for single-family homeowners and condo owners, as well as rental property insurance in the states of Alabama, California, Connecticut, Delaware, Florida, Georgia, Hawaii, Maryland, Massachusetts, Mississippi, New Jersey, New York, North Carolina, Rhode Island, South Carolina, and Virginia; commercial residential insurance for properties in Florida, New Jersey and New York; and licensed in the State of Pennsylvania, as well as residential property and personal wind insurance.

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