AMERISAFE (NASDAQ:AMSF) Stock Bumped Down to “Strong Sell” by Zacks Research

AMERISAFE (NASDAQ:AMSF – Get Free Report) was downgraded by Zacks Research from a “hold” rating to a “strong sell” rating in a research note issued to investors on Wednesday, Zacks reports.

Several other equities analysts also recently weighed in on the company. Weiss Ratings reissued a “sell (d+)” rating on shares of AMERISAFE in a research report on Monday, October 26th. Wall Street Zen raised shares of AMERISAFE from a “sell” rating to a “hold” rating in a research note on Saturday, October 31st. Morgan Stanley set a $40.00 price objective on shares of AMERISAFE in a research report on Monday, October 12th. Citizens Jmp reduced their target price on shares of AMERISAFE from $40.00 to $35.00 and set a “market outperform” rating on the stock in a research note on Thursday, October 29th. Finally, Citigroup restated a “market outperform” rating on shares of AMERISAFE in a report on Monday, October 12th. Two research analysts have rated the stock with a Buy rating, one has issued a Hold rating and two have assigned a Sell rating to the company’s stock. According to data from MarketBeat, AMERISAFE presently has an average rating of “Hold” and a consensus price target of $33.33.

View Our Latest Research Report on AMSF

AMERISAFE Price Performance

Shares of NASDAQ AMSF opened at $20.33 on Wednesday. The business’s 50 day moving average is $24.44 and its two-hundred day moving average is $30.63. AMERISAFE has a 1-year low of $19.99 and a 1-year high of $42.10. The stock has a market capitalization of $376.71 million, a P/E ratio of 9.46 and a beta of 0.23.

AMERISAFE (NASDAQ:AMSF – Get Free Report) last issued its quarterly earnings data on Wednesday, October 28th. The insurance provider reported $0.40 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.48 by ($0.08). The company had revenue of $79.81 million for the quarter, compared to analysts’ expectations of $84.72 million. AMERISAFE had a net margin of 12.10% and a return on equity of 14.15%. As a group, equities research analysts anticipate that AMERISAFE will post 1.88 earnings per share for the current fiscal year.

Hedge Funds Weigh In On AMERISAFE

Hedge funds have recently bought and sold shares of the business. Parallel Advisors LLC increased its stake in AMERISAFE by 1,405.0% in the third quarter. Parallel Advisors LLC now owns 2,709 shares of the insurance provider’s stock worth $64,000 after purchasing an additional 2,529 shares during the period. CenterBook Partners LP bought a new stake in shares of AMERISAFE during the third quarter worth $477,000. Mirae Asset Global Investments Co. Ltd. bought a new stake in shares of AMERISAFE during the third quarter worth $417,000. Isthmus Partners LLC boosted its stake in shares of AMERISAFE by 28.1% during the third quarter. Isthmus Partners LLC now owns 136,969 shares of the insurance provider’s stock valued at $3,237,000 after purchasing an additional 30,083 shares during the period. Finally, Counterpoint Mutual Funds LLC purchased a new stake in shares of AMERISAFE during the third quarter valued at $431,000. Institutional investors own 97.41% of the company’s stock.

About AMERISAFE

(Get Free Report)

AMERISAFE, Inc is a specialty workers’ compensation insurance company serving small and midsized businesses. The company focuses on employers in industries with elevated workplace risks, including construction, trucking, logging, agriculture, manufacturing, and maritime operations.

Through its insurance subsidiaries, AMERISAFE provides workers’ compensation coverage designed to protect businesses from costs associated with workplace injuries and occupational illnesses. Its services also include workplace safety and loss-control support, claims management, medical cost containment, and premium audit services.

Headquartered in DeRidder, Louisiana, AMERISAFE primarily serves employers in the southeastern and south-central United States.

See Also

Analyst Recommendations for AMERISAFE (NASDAQ:AMSF)

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