The Zacks Rank Explained: How to Find Strong Buy Finance Stocks

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Whether you're a growth, value, income, or momentum-focused investor, building a successful investment portfolio takes skill, research, and a little bit of luck.

Should You Buy #1 (Strong Buy)-Ranked Palomar (PLMR) for Your Portfolio?

Palomar was upgraded to the Zacks Rank #1 list on May 10, 2024. The Zacks Rank is a unique stock-rating model that helps you take advantage of earnings estimate revision trends and provides a way to get into stocks highly sought after by institutional investors.

Headquartered in La Jolla, CA, Palomar Holdings, Inc. formerly known as GC Palomar Holdings (GCPH), was officially founded in 2014 by acquiring Palomar Specialty Insurance Company (PSIC) from Pacific Indemnity Company in a stock purchase transaction. Palomar Holdings is an insurance holding company that was incorporated in Delaware in March 2019.

Six analysts revised their earnings estimate higher in the last 60 days for fiscal 2024, while the Zacks Consensus Estimate has increased $0.35 to $4.64 per share. PLMR also boasts an average earnings surprise of 15.1%.

Earnings are expected to grow 25.8% for the current fiscal year, while revenue is projected to increase 32%.

PLMR has been moving higher over the past four weeks as well, up 6.7% compared to the S&P 500's gain of 3.2%.

Bottom Line

With a #1 (Strong Buy) ranking, positive trend in earnings estimate revisions, and strong market momentum, Palomar could be just the stock to help your portfolio generate returns that could fund your retirement, your kids' college tuition, or your short- and long-term savings goals.

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