Hagerty, Inc. (NYSE:HGTY) Stock Has Consensus Target Price of $13.80

Shares of Hagerty, Inc. (NYSE:HGTY – Get Free Report) have received a consensus recommendation of “Moderate Buy” from the six research firms that are presently covering the firm, Marketbeat Ratings reports. Four research analysts have rated the stock with a hold recommendation, one has given a buy recommendation and one has assigned a strong buy recommendation to the company. The average 1-year target price among brokers that have updated their coverage on the stock in the last year is $13.80.

Several analysts recently weighed in on the company. Weiss Ratings raised Hagerty from a “hold (c-)” rating to a “hold (c)” rating in a report on Tuesday, August 11th. Wells Fargo & Company increased their target price on Hagerty from $11.00 to $13.00 and gave the stock an “equal weight” rating in a report on Thursday, July 9th. Keefe, Bruyette & Woods lifted their target price on Hagerty from $15.00 to $16.00 and gave the stock an “outperform” rating in a research report on Tuesday, August 11th. JPMorgan Chase & Co. boosted their price target on Hagerty from $12.00 to $13.00 and gave the company a “neutral” rating in a report on Tuesday, July 14th. Finally, Zacks Research raised Hagerty from a “hold” rating to a “strong-buy” rating in a research report on Thursday, August 13th.

Check Out Our Latest Stock Analysis on Hagerty

Insiders Place Their Bets

In other Hagerty news, major shareholder Holding Corp. Hagerty sold 1,387,500 shares of the business’s stock in a transaction on Friday, September 11th. The shares were sold at an average price of $11.47, for a total transaction of $15,914,625.00. Following the completion of the sale, the insider owned 9,250,000 shares in the company, valued at $106,097,500. The trade was a 13.04% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. 3.70% of the stock is currently owned by insiders.

Institutional Inflows and Outflows

Large investors have recently modified their holdings of the business. Ancora Advisors LLC bought a new stake in Hagerty in the second quarter valued at $28,000. EverSource Wealth Advisors LLC grew its position in shares of Hagerty by 107.4% during the first quarter. EverSource Wealth Advisors LLC now owns 3,072 shares of the company’s stock worth $32,000 after acquiring an additional 1,591 shares during the last quarter. Integrated Wealth Concepts LLC acquired a new stake in shares of Hagerty in the 2nd quarter worth about $63,000. The Manufacturers Life Insurance Company acquired a new stake in shares of Hagerty in the 1st quarter worth about $115,000. Finally, Sequoia Financial Advisors LLC acquired a new position in Hagerty during the 2nd quarter valued at about $170,000. 20.51% of the stock is currently owned by institutional investors.

Hagerty Trading Up 0.1%

NYSE HGTY opened at $13.62 on Friday. The company has a market capitalization of $4.68 billion, a price-to-earnings ratio of 151.39 and a beta of 0.83. The company has a debt-to-equity ratio of 0.33, a current ratio of 1.53 and a quick ratio of 1.53. Hagerty has a 12 month low of $9.36 and a 12 month high of $14.17. The company’s fifty day moving average price is $13.15 and its two-hundred day moving average price is $11.72.

Hagerty (NYSE:HGTY – Get Free Report) last released its earnings results on Wednesday, August 5th. The company reported ($0.02) earnings per share for the quarter, topping the consensus estimate of ($0.09) by $0.07. Hagerty had a net margin of 1.81% and a return on equity of 5.15%. The company had revenue of $354.82 million during the quarter, compared to the consensus estimate of $316.21 million. As a group, research analysts predict that Hagerty will post 0.01 earnings per share for the current fiscal year.

Hagerty Company Profile

(Get Free Report)

Hagerty, Inc (NYSE: HGTY) is an automotive enthusiast company focused on protecting, valuing and celebrating collectible vehicles. Its primary business is specialty insurance for classic, vintage, exotic and other enthusiast vehicles, supported by coverage options and services designed for vehicles that may be driven less frequently or require specialized valuation.

The company also provides vehicle valuation tools, automotive media and content, membership programs, events, and enthusiast experiences.

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Analyst Recommendations for Hagerty (NYSE:HGTY)

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