Price Action Report: Is Heritage Insurance Holdings Inc a Sell? The Stock Declines Again

Price Action Report: Is Heritage Insurance Holdings Inc a Sell? The Stock Declines Again

The stock of Heritage Insurance Holdings Inc (NYSE:HRTG) is a huge mover today! About 859,329 shares traded hands or 428.57% up from the average. Heritage Insurance Holdings Inc (NYSE:HRTG) has declined 20.70% since March 3, 2016 and is downtrending. It has underperformed by 29.04% the S&P500.
The move comes after 8 months negative chart setup for the $372.14M company. It was reported on Oct, 6 by Barchart.com. We have $11.03 PT which if reached, will make NYSE:HRTG worth $40.94 million less.

Analysts await Heritage Insurance Holdings Inc (NYSE:HRTG) to report earnings on November, 2. They expect $0.43 EPS, down 21.82% or $0.12 from last year’s $0.55 per share. HRTG’s profit will be $12.92 million for 7.20 P/E if the $0.43 EPS becomes a reality. After $0.62 actual EPS reported by Heritage Insurance Holdings Inc for the previous quarter, Wall Street now forecasts -30.65% negative EPS growth.

Heritage Insurance Holdings Inc (NYSE:HRTG) Ratings Coverage

Out of 5 analysts covering Heritage Insurance Holdings (NYSE:HRTG), 5 rate it a “Buy”, 0 “Sell”, while 0 “Hold”. This means 100% are positive. Heritage Insurance Holdings has been the topic of 8 analyst reports since August 7, 2015 according to StockzIntelligence Inc. As per Friday, September 23, the company rating was upgraded by Sandler O’Neill. The company was upgraded on Tuesday, October 20 by JMP Securities. On Monday, June 13 the stock rating was maintained by Wood with “Outperform”. Citigroup maintained Heritage Insurance Holdings Inc (NYSE:HRTG) on Friday, August 7 with “Buy” rating. The stock has “Outperform” rating given by Wood on Tuesday, August 9.

According to Zacks Investment Research, “Heritage Insurance Holdings, Inc. is a property and casualty insurance holding company. Through its subsidiary, Heritage Property & Casualty Insurance Company, the Company provides personal residential insurance for single-family homeowners and condominium owners. Heritage Insurance Holdings, Inc. is based in Clearwater, Florida.”

More important recent Heritage Insurance Holdings Inc (NYSE:HRTG) news were published by: Quotes.Wsj.com which released: “News Heritage Insurance Holdings Inc.HRTG” on April 22, 2014, also Prnewswire.com published article titled: “Heritage Insurance Announces Completion of 2016-2017 Reinsurance Program”, Prnewswire.com published: “Heritage Insurance Holdings, Inc. Reports Financial Results for Third Quarter …” on November 04, 2015. More interesting news about Heritage Insurance Holdings Inc (NYSE:HRTG) was released by: Prnewswire.com and their article: “Heritage Insurance Approved to Write Property and Casualty Insurance in Georgia” with publication date: April 11, 2016.

HRTG Company Profile

Heritage Insurance Holdings, Inc. (Heritage Insurance), incorporated on December 30, 2013, is a property and casualty insurance holding company. The Firm provides personal and commercial residential insurance. Through its subsidiary, Heritage Property & Casualty Insurance Company (Heritage P&C), it provides personal residential insurance for single-family homeowners and condominium owners, rental property insurance and commercial residential insurance in the state of Florida and North Carolina. The Firm is vertically integrated and controls or manages all aspects of insurance underwriting, customer service, actuarial analysis, distribution and claims processing and adjusting. The Company’s primary products are personal and commercial residential insurance, which it offers only in Florida. It markets and writes personal lines voluntary policies through a network of approximately 1,400 independent agents. It has approximately 40,130 voluntary policies. It markets and writes commercial residential voluntary policies through a network of approximately 60 independent agents.

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