While 2016 produced its share of strong IPOs, including Ichor (ICHR), The Trade Desk (TTD) and Impinj (PI), another new issue from last year, Kinsale Capital (KNSL), has more than doubled in price from its market debut.
After closing its first week of trading last July at 18.27, Kinsale ended Thursday’s session at 37.25 a gain of over 100%.
Based on Wednesday’s action, the Richmond,VA-based property and casualty insurance provider saw its IBD SmartSelect Composite Rating rise to 96, up from 94 on Tuesday.
The new score means the company is now outperforming 96% of all stocks in terms of the most important fundamental and technical stock-picking criteria. Winning stocks often have a 95 or higher grade in the early stages of a new price run.
Kinsale Capital is now out of buy range after breaking out from a 32.71 buy point in a cup with handle. Note that it is a thinly traded stock, with average daily dollar volume under $8 million.
The stock has a 96 EPS Rating, which means its recent quarterly and annual earnings growth tops 96% of all stocks.
Its Accumulation/Distribution Rating of B- shows moderate buying by institutional investors over the last 13 weeks.
In Q1, the company reported 16% EPS growth. Top line growth fell to 30%, down from 66% in the previous quarter.
Kinsale Capital holds the No. 3 rank among its peers in the Insurance-Property/Casualty/Title industry group. Investors Title (ITIC) is the top-ranked stock within the group.
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View more information: https://www.investors.com/ibd-data-stories/this-2016-ipo-stock-is-up-over-100-in-less-than-a-year/