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Sep 9, 2024 2:40 PM

RLI Stock Near 52-Week High: What Investors Should Know?

Shares of RLI Corp. (NYSE: RLI) closed at $151.38 on Friday, near its 52-week high of $155.59. This proximity underscores investor confidence. It has the ingredients for further price appreciation. Technical indicators for RLI show that the stock is trading above its 50-day and 200-day moving averages, signaling strong upward momentum.

Earnings of RLI grew 18.7% in the last five years, better than the industry average of 10.5%. RLI has a solid surprise history. It surpassed earnings estimates in each of the last four quarters, the average being 140.08%.

Shares of RLI have gained 13.7% in the year-to-date period compared with the industry's growth of 28.2%. The stock has outperformed the Zacks S&P 500 composite's growth 13.3%.

RLI YTD Price Performance

Image Source: Zacks Investment Research

Positive Analyst Sentiment Instills Confidence in RLI

Three of the four analysts covering the stock have raised estimates for 2024 and 2025 over the past 60 days. The Zacks Consensus Estimate for 2024 and 2025 increased 4.9% and 3.6%, respectively.

The consensus estimate for 2024 and 2025 earnings indicates an improvement of 24.2% and 2.6%, respectively. ...

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