EMC Insurance Group (NASDAQ:EMCI) was downgraded by investment analysts at Barclays Capital from an “overweight” rating to an “equal weight” rating in a note issued to investors on Tuesday, ARN reports.
Shares of EMC Insurance Group (NASDAQ:EMCI) traded up 1.59% on Tuesday, hitting $30.07. The stock had a trading volume of 9,986 shares. EMC Insurance Group has a 52-week low of $19.79 and a 52-week high of $30.77. The stock has a 50-day moving average of $28.4 and a 200-day moving average of $27.81. The company has a market cap of $394.6 million and a price-to-earnings ratio of 9.17.
EMC Insurance Group (NASDAQ:EMCI) last issued its quarterly earnings data on Thursday, August 8th. The company reported $0.47 EPS for the quarter, beating the Thomson Reuters 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 $2.63 earnings per share for the current fiscal year.
Other equities research analysts have also recently issued reports about the stock. Analysts at Zacks upgraded shares of EMC Insurance Group (NASDAQ:EMCI) from a “neutral” rating to an “outperform” rating in a research note to investors on Tuesday, August 13th. They now have a $31.40 price target on the stock. Separately, analysts at Keefe, Bruyette & Woods raised their price target on shares of EMC Insurance Group (NASDAQ:EMCI) 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 (NASDAQ:EMCI) 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.
Two equities research analysts have rated the stock with a hold rating, twelve have issued a buy rating and one has assigned a strong buy rating to the company. EMC Insurance Group has an average rating of “Buy” and a consensus target price of $31.06.
EMC Insurance Group Inc is an insurance holding company. The Company conducts operations in property and casualty insurance, and reinsurance through its subsidiaries.
