Notable Mover: Heritage Insurance Holdings Inc’s Stock Is Sell After Achieving Yearly Low

Notable Mover: Heritage Insurance Holdings Inc's Stock Is Sell After Achieving Yearly Low

The stock of Heritage Insurance Holdings Inc (NYSE:HRTG) hit a new 52-week low and has $11.14 target or 13.00% below today’s $12.80 share price. The 6 months bearish chart indicates high risk for the $388.45M company. The 1-year low was reported on Nov, 9 by Barchart.com. If the $11.14 price target is reached, the company will be worth $50.50 million less.
The 52-week low event is an important milestone for every stock because it shows very negative momentum and is time when sellers come in. During such technical setups, fundamental investors usually stay away and are careful buying the stock. About 149,916 shares traded hands. Heritage Insurance Holdings Inc (NYSE:HRTG) has declined 22.19% since April 7, 2016 and is downtrending. It has underperformed by 26.97% the S&P500.

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. The company was maintained on Monday, June 13 by Wood. As per Friday, September 23, the company rating was upgraded by Sandler O’Neill. The rating was maintained by Citigroup with “Buy” on Friday, August 7. The rating was maintained by Wood on Tuesday, August 9 with “Outperform”. JMP Securities upgraded the shares of HRTG in a report on Tuesday, October 20 to “Market Outperform” rating.

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 notable recent Heritage Insurance Holdings Inc (NYSE:HRTG) news were published by: Prnewswire.com which released: “Heritage Insurance Holdings, Inc. Reports Financial Results for Third Quarter …” on November 08, 2016, also Prnewswire.com with their article: “Heritage Insurance Holdings, Inc. Sets November 9 for Third Quarter 2016 …” published on October 17, 2016, Prnewswire.com published: “Heritage Insurance Holdings, Inc. Provides Update to Hurricane Matthew Initial …” on October 10, 2016. More interesting news about Heritage Insurance Holdings Inc (NYSE:HRTG) were released by: Prnewswire.com and their article: “Heritage Insurance Holdings, Inc. Prepares for Hurricane Matthew and …” published on October 07, 2016 as well as Prnewswire.com‘s news article titled: “Heritage Insurance Holdings, Inc. Reports Financial Results for Third Quarter …” with publication date: November 04, 2015.

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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