12x current earnings of $2.85 = $34.20 and 17x would be $48.45 per share. I've tracked this stock for many years and it seems to bounce back and forth between 12 and 17 times earnings. As I recall if you purchased in the 20's you were close to the bottom of the channel. Currently stock is selling 14.18 times earnings and may very well be at a price that may get my attention.
I've been in and out of this stock for well over 15 years and believe that a some point the Kempers will seriously bless a sale, but I don't think that a sale is in the cards form at least another 10 years because of David Kempers age.
These are my thoughts and should not be relied upon to make an investment decision. I'm currently long this stock and will more than likely sell at $50.00.