Is The Hanover Insurance Group, Inc. (THG)’s Fuel Running High? The Stock Formed Wedge Up

April 23, 2018 - By Hazel Jackson

The Hanover Insurance Group, Inc. (NYSE:THG) Logo

The stock of The Hanover Insurance Group, Inc. (THG) formed an up wedge with $123.54 target or 3.00 % above today’s $119.94 share price. The 8 months wedge indicates low risk for the $5.10B company. If the $123.54 price target is reached, the company will be worth $153.12 million more.
Rising wedges, especially for downward breakouts are tricky moments to trade. Investors must be aware that the break even failure rate for up or down breakouts is: 8% and 24%. The average rise is 28% and the decline is 14%. Wedges has high throwback and pullback rate: 73%, 63% and the percent of wedges meeting target is not more than 50%.

The stock decreased 0.10% or $0.12 during the last trading session, reaching $119.94. About 111,399 shares traded. The Hanover Insurance Group, Inc. (NYSE:THG) has risen 27.09% since April 23, 2017 and is uptrending. It has outperformed by 15.54% the S&P500.

Analysts await The Hanover Insurance Group, Inc. (NYSE:THG) to report earnings on May, 2 after the close. They expect $1.70 earnings per share, up 78.95 % or $0.75 from last year’s $0.95 per share. THG’s profit will be $72.34 million for 17.64 P/E if the $1.70 EPS becomes a reality. After $2.00 actual earnings per share reported by The Hanover Insurance Group, Inc. for the previous quarter, Wall Street now forecasts -15.00 % negative EPS growth.

The Hanover Insurance Group, Inc. (NYSE:THG) Ratings Coverage

Among 2 analysts covering Hanover Insurance (NYSE:THG), 1 have Buy rating, 0 Sell and 1 Hold. Therefore 50% are positive. Hanover Insurance had 7 analyst reports since November 2, 2017 according to SRatingsIntel. The firm earned “Hold” rating on Thursday, November 2 by Keefe Bruyette & Woods. Keefe Bruyette & Woods maintained the stock with “Hold” rating in Monday, December 4 report. The rating was maintained by Keefe Bruyette & Woods on Thursday, February 1 with “Hold”. The stock of The Hanover Insurance Group, Inc. (NYSE:THG) earned “Buy” rating by Sandler O’Neill on Tuesday, January 9. The stock has “Buy” rating by Sandler O’Neill on Thursday, February 1. On Tuesday, April 17 the stock rating was maintained by Sandler O’Neill with “Buy”. The rating was maintained by Sandler O’Neill on Friday, April 6 with “Buy”.

The Hanover Insurance Group, Inc. (NYSE:THG) Ratings Chart

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