Brokerages Set $29.00 Price Target for Artesian Resources Co. (NASDAQ:ARTNA)

Shares of Artesian Resources Co. (NASDAQ:ARTNA) have been given a consensus broker rating score of 2.00 (Buy) from the two analysts that cover the stock, Zacks Investment Research reports. One investment analyst has rated the stock with a hold recommendation and one has issued a strong buy recommendation on the company.

Analysts have set a twelve-month consensus target price of $29.00 for the company, according to Zacks. Zacks has also assigned Artesian Resources an industry rank of 82 out of 265 based on the ratings given to related companies.

ARTNA has been the topic of several analyst reports. Zacks Investment Research upgraded shares of Artesian Resources from a “hold” rating to a “buy” rating and set a $30.00 price target on the stock in a research report on Monday, October 19th. Hilliard Lyons lowered shares of Artesian Resources from a “neutral” rating to an “underperform” rating in a research report on Wednesday, October 21st.

In other news, Director William C. Wyer sold 2,050 shares of the firm’s stock in a transaction dated Monday, November 23rd. The shares were sold at an average price of $25.60, for a total value of $52,480.00. Following the completion of the sale, the director now directly owns 13,500 shares of the company’s stock, valued at approximately $345,600. The transaction was disclosed in a filing with the SEC, which is available at the SEC website. Also, insider Dian C. Taylor sold 11,250 shares of the firm’s stock in a transaction dated Monday, November 23rd. The stock was sold at an average price of $25.37, for a total transaction of $285,412.50. Following the completion of the sale, the insider now directly owns 90,450 shares of the company’s stock, valued at $2,294,716.50. The disclosure for this sale can be found here.

Shares of Artesian Resources (NASDAQ:ARTNA) opened at 27.70 on Monday. The company has a market cap of $249.38 million and a PE ratio of 21.31. The firm’s 50 day moving average is $26.16 and its 200 day moving average is $23.63. Artesian Resources has a 12 month low of $20.00 and a 12 month high of $29.16.

12 Month Chart for NASDAQ:ARTNA

Artesian Resources Corporation is a holding company. The Company distributes and sells water, including water for public and private fire protection, to residential, commercial, industrial, municipal and utility customers in Delaware, Maryland and Pennsylvania. It provides wastewater services to customers in Delaware. It also provides contract water and wastewater operations, and water and sewer Service Line Protection Plans. The Company’s subsidiaries include Artesian Water Company, Inc., Artesian Water Pennsylvania, Inc., Artesian Water Maryland, Inc., Artesian Wastewater Management, Inc., Artesian Wastewater Maryland, Inc., Artesian Utility Development, Inc., Artesian Development Corporation and Artesian Consulting Engineers, Inc.

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