JMP Securities has initiated coverage on Hagerty Inc (HGTY) with a Market Outperform rating, effective September 30, 2025. The firm has assessed the company's investment potential based on its research into business fundamentals and industry dynamics.
Hagerty, headquartered in Traverse City, Michigan, specializes in automotive insurance services and employs 1,733 full-time staff. The company went public on April 9, 2021, and currently has a market capitalization of $4.3 billion. Its price-to-earnings ratio stands at 155.55, with an earnings per share (EPS) of $0.23.
The company provides insurance for approximately 2.6 million collector cars and enthusiast vehicles, acting as a Managing General Agent by underwriting and servicing these policies. Additionally, Hagerty offers memberships through its Hagerty Drivers Club, which includes various automotive enthusiast services.
Upcoming earnings reports are scheduled for August 3, 2026, with an estimated EPS of $0.13 and revenue of $351.9 million, and May 5, 2026, with an estimated EPS of $0.11 and revenue of $307.7 million.
As of November 1, 2025, the analyst consensus for Hagerty Inc includes 3 Strong Buy, 5 Buy, 5 Hold, 1 Sell, and no Strong Sell ratings, indicating a general positive outlook among analysts. Recent actions include initiations from BMO Capital and Oppenheimer, alongside JMP's recent coverage.
This update provides insight into Hagerty's standing in the insurance sector and reflects the firm's growth prospects as assessed by JMP Securities.