Roth Capital Forecasts Strong Price Appreciation for Cincinnati Financial (NASDAQ:CINF) Stock

Key Points

• Roth Capital has increased its price target for Cincinnati Financial (NASDAQ:CINF) from $160.00 to $175.00, indicating a potential upside of 15.34% from the current price.
• Cincinnati Financial surpassed earnings expectations with reported earnings per share of $1.97 for the last quarter, significantly above analysts' consensus estimate of $1.39.
• Various analysts have given Cincinnati Financial ratings ranging from "hold" to "buy," resulting in a consensus rating of "Moderate Buy" and an average target price of $159.20.

Cincinnati Financial (NASDAQ:CINF - Get Free Report) had its price target upped by research analysts at Roth Capital from $160.00 to $175.00 in a report released on Tuesday,Benzinga reports. The brokerage currently has a "buy" rating on the insurance provider's stock. Roth Capital's target price suggests a potential upside of 15.34% from the company's current price.

Several other research analysts also recently commented on the company. Keefe, Bruyette & Woods lifted their price objective on Cincinnati Financial from $150.00 to $167.00 and gave the stock an "outperform" rating in a report on Wednesday, July 9th. Wall Street Zen upgraded Cincinnati Financial from a "sell" rating to a "hold" rating in a report on Thursday, April 17th. Two investment analysts have rated the stock with a hold rating and four have assigned a buy rating to the company. According to data from MarketBeat, the company has a consensus rating of "Moderate Buy" and a consensus target price of $159.20.

Cincinnati Financial Price Performance

NASDAQ CINF traded up $4.62 during trading hours on Tuesday, reaching $151.72. 609,589 shares of the stock traded hands, compared to its average volume of 699,581. The stock has a 50 day simple moving average of $147.89 and a two-hundred day simple moving average of $142.69. Cincinnati Financial has a 1 year low of $123.01 and a 1 year high of $161.74. The company has a debt-to-equity ratio of 0.06, a current ratio of 0.29 and a quick ratio of 0.29. The company has a market cap of $23.71 billion, a price-to-earnings ratio of 16.55, a price-to-earnings-growth ratio of 9.92 and a beta of 0.76.

Cincinnati Financial (NASDAQ:CINF - Get Free Report) last released its quarterly earnings results on Monday, July 28th. The insurance provider reported $1.97 earnings per share for the quarter, beating analysts' consensus estimates of $1.39 by $0.58. The business had revenue of $2.48 billion for the quarter, compared to the consensus estimate of $2.80 billion. Cincinnati Financial had a return on equity of 6.55% and a net margin of 13.19%. The company's revenue for the quarter was up 15.5% on a year-over-year basis. During the same quarter last year, the business posted $1.29 earnings per share. On average, analysts predict that Cincinnati Financial will post 5.36 EPS for the current fiscal year.

Institutional Inflows and Outflows

Institutional investors and hedge funds have recently added to or reduced their stakes in the stock. Quintet Private Bank Europe S.A. purchased a new position in shares of Cincinnati Financial during the second quarter valued at approximately $25,000. Spire Wealth Management raised its stake in Cincinnati Financial by 77.6% in the first quarter. Spire Wealth Management now owns 174 shares of the insurance provider's stock worth $26,000 after buying an additional 76 shares in the last quarter. Meeder Asset Management Inc. bought a new position in Cincinnati Financial in the first quarter worth approximately $26,000. Alpine Bank Wealth Management bought a new position in Cincinnati Financial in the first quarter worth approximately $30,000. Finally, Vermillion & White Wealth Management Group LLC bought a new position in Cincinnati Financial in the first quarter worth approximately $32,000. Hedge funds and other institutional investors own 65.24% of the company's stock.

Cincinnati Financial Company Profile

Cincinnati Financial Corporation, together with its subsidiaries, provides property casualty insurance products in the United States. It operates through five segments: Commercial Lines Insurance, Personal Lines Insurance, Excess and Surplus Lines Insurance, Life Insurance, and Investments. The Commercial Lines Insurance segment offers coverage for commercial casualty, commercial property, commercial auto, and workers' compensation.

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