Kinsale Capital Group, Inc. (NASDAQ:KNSL) is one of the best performers on the stock market today. At current price of $85.47, the shares have already added 3.31 points (4.03% higher) from its previous close of $82.16. Should you buy or avoid them? The stock sets an active trading volume day with a reported 113208 contracts so far this session. KNSL shares had a relatively better volume day versus average trading capacity of 71.51 million shares, but with a 19.63 million float and a 2.47% run over a week, it’s definitely worth keeping an eye on. The one year price forecast for KNSL stock indicates that the average analyst price target is $77.5 per share. This means the stock has a potential decrease of -9.32% from where the KNSL share price has been trading recently which is between $81.7469 and $82.7. There are some brokerage firms that offer lower targets than the average, with one of them, even setting their price target at $75.
The shorts are running away from Kinsale Capital Group, Inc. (KNSL) stock. The latest set of short interest data was released on 30 April 2019, and the numbers show a drop in short interest in KNSL shares. While short interest still represents only 4.42% of KNSL’s float, the number of shares shorted have fallen by -18570. The number of shares shorted fell to 848567 shares, down from 867137 shares during the preceding fortnight. With average daily trading volumes at 57329 shares, days to cover decreased to about 15.17619 days. The most recent news story about the stock that appeared in Yahoo Finance‘s news section was titled “Why Should You Add RenaissanceRe (RNR) to Your Portfolio?” and dated May 14, 2019.
During the recent trading session for Kinsale Capital Group, Inc. (NASDAQ:KNSL), the company witnessed their stock rise $5.23 over a week and surge $16.26 from the price 20 days ago. When compared to their established 52-week high of $85.81, the high they recorded in their recent session happens to be lower. Their established 52-week high was attained by the company on 05/15/19. The recent low of $50.34 stood for a 0.31% since 12/26/18, a data which is good for most investors who are looking to take advantage of the stock’s recent rise. A beta of 0 is also allocated to the stock. Since the beta is less than one, it implies that the stock is more volatile than the market, a data that traders are keeping close attention to.
Looking at the current readings for Kinsale Capital Group, Inc., the two-week RSI stands at 81.45. This figure suggests that KNSL stock, for now, is oversold, meaning that the shares are not stable in terms of price movement. The stochastic readings, on the other hand, based on the current KNSL readings is similarly very revealing as it has a stochastic reading of 84.54% at this stage. This figure means that KNSL share price today is being oversold.
Technical chart claims that Kinsale Capital Group, Inc. (KNSL) would settle between $82.66/share to $83.16/share level. However, if the stock price goes below the $81.7 mark, then the market for Kinsale Capital Group, Inc. becomes much weaker. If that happens, the stock price might even plunge as low as $81.25 for its downside target. The stock is currently in the green zone of MACD, with the indicator reading 1.32. Traders are always alerted for the move of a stock above or below the zero line due to the fact that the reading is an indicator of the position of the short-term average relative to the long-term average. If the MACD is above the zero line, then the short-term average relative is above that of the long-term average, thus implying an upward momentum. Vice versa is the case if the MACD is below the zero line.
Analysts at William Blair raised their recommendation on shares of KNSL from Mkt Perform to Outperform in their opinion released on December 07. William Blair analysts have lowered their rating of Kinsale Capital Group, Inc. (NASDAQ:KNSL) stock from Outperform to Mkt Perform in a separate flash note issued to investors on October 09.
KNSL equity has an average rating of 2.4, with the figure leaning towards a bullish end. 5 analysts who tracked the company were contacted by Reuters. Amongst them, 2 rated the stock as a hold while the remaining 3 were split even though not equally. Some analysts rate the stock as a buy or a strong buy while no rated it as a sell. 3 analysts rated Kinsale Capital Group, Inc. (NASDAQ:KNSL) as a buy or a strong buy while not a single analyst advised that investors should desist from purchasing the stock or sell them if they already own the company’s stock.
Moving on, KNSL stock price is currently trading at 31.73X forward 12-month Consensus EPS estimates, and its P/S ratio is 5.56 while for the average stock in the same group, the multiple is 0.59. Kinsale Capital Group, Inc. current P/E ratio of 30.98 means it is trading at a premium against its industry’s 10.48. In the past 5 years, this ratio for the stock has been fluctuating between 0 and 0.
Kinsale Capital Group, Inc. (KNSL)’s current-quarter revenues are projected to climb by nearly 24.88% to hit $68.62 million, based on current Zacks Consensus Estimate. The firm’s full-year revenues are expected to expand by over 28.31% from $222110 to a noteworthy $284990. At the other end of the current quarter income statement, Kinsale Capital Group, Inc. is expected to see its adjusted earnings surge by roughly 21.74% to hit $0.56 per share. For the fiscal year, KNSL’s earnings are projected to climb by roughly 35.2% to hit $2.42 per share.