Last Updated: 16 Oct 2024
Executive Summary
American Coastal Insurance Corp (ACIC) is a publicly traded company in the insurance industry. The company has a market capitalization of $510.8 million and trades on the NASDAQ exchange. ACIC is headquartered in New York, New York, and has a fiscal year-end of December. The company's latest reported quarter was June 30, 2024.
Company Overview
ACIC is a provider of property and casualty insurance products. The company offers a range of products, including homeowners, renters, auto, and commercial insurance. ACIC has a strong presence in the southeastern United States.
Fundamental Analysis
ACIC's financial performance has been mixed in recent years. The company's revenue has declined slightly in recent quarters, and its profitability has been volatile. However, ACIC's balance sheet is strong, and the company has a low level of debt.
ACIC's key financial metrics are as follows:
Revenue: $261.2 million (TTM)
Gross profit: -$338.3 million (TTM)
Net income: $106.7 million (TTM)
Diluted EPS: $1.51 (TTM)
Book value per share: $7.42
Price-to-book ratio: 2.223
Technical Analysis
ACIC's stock price has been trading in a range between $6.82 and $14.38 over the past 52 weeks. The stock is currently trading at $10.61, which is below its 50-day and 200-day moving averages.
Short Term Outlook
ACIC's stock price is likely to remain range-bound in the short term. The company's financial performance has been mixed, and there are no major catalysts on the horizon.
Long Term Outlook
ACIC's long-term outlook is more positive. The company's strong balance sheet and low level of debt give it the financial flexibility to invest in growth. Additionally, the insurance industry is expected to grow in the coming years, which should benefit ACIC.
Analyst Recommendations
The majority of analysts who cover ACIC have a buy rating on the stock. The average analyst target price is $15.00, which represents a potential upside of 41.4% from the current price.
