Patriot National, Inc. Common S (NYSE:PN):
Patriot National Awarded Turnkey BPO Services Contract from Ashmere Insurance Company.
In the market the company is trading up from yesterday’s close of $6.47.
Shares are trading at $6.58 slightly below the 50 day moving average which is $8.54 and a bit lower than the 200 day moving average of $8.36. The 50 day moving average was down by -22.93% whereas the 200 day average was down by -21.29%.
The company currently has a P/E ratio of 11.63 and market capitalization is 173.64M. As of the last earnings report the EPS was $0.57 and is projected to be $0.86 for the current year with 26,389,000 shares presently outstanding. Analysts expect next quarter’s EPS will be $0.26 with next year’s EPS projected to be $1.08.
Several ratings firms have issued ratings on the company. On May 16 the stock rating was downgraded from “Buy” to “Neutral” and a price target of $10.00 was set in an announcement from Compass Point. Equity analyst Compass Point downgraded the stock and lowered the price target on May 16 cutting the price target from $20.00 to $10.00 and altering the rating from “Buy” to “Neutral”.
On February 26 the company was downgraded to “Neutral” from “Buy” with a current price target of $5.00 by SunTrust Robinson Humphrey. SunTrust Robinson Humphrey lowered the price target and downgraded the stock on February 26 changing the price objective from $0.00 to $5.00 and cutting the rating from “Buy” to “Neutral”.
On December 18 the company was set at “Market Perform” in a report from William Blair down from the previous “Outperform” rating. Compass Point released its first research report on the stock by announcing an initial rating of “Buy” and a price target of $20.00.