Standpoint Research Downgrades HCC Insurance (HCC) to Hold
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Price: $94.02 --0%
Rating Summary:
9 Buy, 6 Hold, 0 Sell
Rating Trend:
Up
Today's Overall Ratings:
Up: 5 | Down: 11 | New: 26
Rating Summary:
9 Buy, 6 Hold, 0 Sell
Rating Trend:
Up
Today's Overall Ratings:
Up: 5 | Down: 11 | New: 26
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Standpoint Research downgraded HCC Insurance (NYSE: HCC) from Buy to Hold.
Analyst Ronnie Moas comments, "Our recommendation from May 22, 2009 is now up by more than 50% for us and at an all-time high. The shares have hit our price target. The stock appears attractive on some valuation measures on an absolute basis … but on a relative basis to other multi-line insurers and to its own historical valuation measures it is a bit stretched. We can no longer leave our highest recommendation attached to this conservative and well-run, low beta name now + 1500 bps versus the S&P since the end of January. Everything seems to be clicking at HCC right now with solid investment income, higher premiums, share buyback and lower losses … but that is priced in with the shares up 33% since November. In my opinion, the 1500 bps gain versus the S&P since late January should be locked in at this time."
For an analyst ratings summary and ratings history on HCC Insurance click here. For more ratings news on HCC Insurance click here.
Shares of HCC Insurance closed at $34.00 yesterday.
Analyst Ronnie Moas comments, "Our recommendation from May 22, 2009 is now up by more than 50% for us and at an all-time high. The shares have hit our price target. The stock appears attractive on some valuation measures on an absolute basis … but on a relative basis to other multi-line insurers and to its own historical valuation measures it is a bit stretched. We can no longer leave our highest recommendation attached to this conservative and well-run, low beta name now + 1500 bps versus the S&P since the end of January. Everything seems to be clicking at HCC right now with solid investment income, higher premiums, share buyback and lower losses … but that is priced in with the shares up 33% since November. In my opinion, the 1500 bps gain versus the S&P since late January should be locked in at this time."
For an analyst ratings summary and ratings history on HCC Insurance click here. For more ratings news on HCC Insurance click here.
Shares of HCC Insurance closed at $34.00 yesterday.
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