Brokerages Set $64.50 Price Target for AMERISAFE, Inc. (NASDAQ:AMSF)
AMERISAFE, Inc. (NASDAQ:AMSF) has been given a consensus broker rating score of 1.00 (Strong Buy) from the two analysts that cover the stock, Zacks Investment Research reports. Two research analysts have rated the stock with a strong buy recommendation.
Brokers have set a 12 month consensus target price of $64.50 for the company and are expecting that the company will post $0.72 EPS for the current quarter, according to Zacks. Zacks has also given AMERISAFE an industry rank of 197 out of 265 based on the ratings given to its competitors.
Several equities research analysts have recently commented on AMSF shares. Zacks Investment Research upgraded shares of AMERISAFE from a “sell” rating to a “hold” rating in a research note on Tuesday, April 25th. FBR & Co reissued an “outperform” rating and set a $64.00 price objective (down from $71.00) on shares of AMERISAFE in a report on Wednesday, May 10th. Finally, BidaskClub raised AMERISAFE from a “hold” rating to a “buy” rating in a research note on Thursday, June 15th.
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In other news, Director Millard E. Morris acquired 2,000 shares of the stock in a transaction on Friday, May 26th. The shares were purchased at an average price of $52.15 per share, for a total transaction of $104,300.00. Following the transaction, the director now directly owns 10,336 shares of the company’s stock, valued at $539,022.40. The acquisition was disclosed in a filing with the SEC, which is available through the SEC website. Also, Director Jared A. Morris acquired 2,500 shares of the stock in a transaction on Tuesday, May 30th. The shares were purchased at an average price of $50.82 per share, for a total transaction of $127,050.00. Following the transaction, the director now directly owns 12,390 shares in the company, valued at $629,659.80. The disclosure for this purchase can be found here. In the last three months, insiders bought 6,054 shares of company stock valued at $311,443. 2.20% of the stock is currently owned by insiders.
A number of hedge funds and other institutional investors have recently bought and sold shares of the company. Russell Investments Group Ltd. boosted its position in shares of AMERISAFE by 33.6% in the second quarter. Russell Investments Group Ltd. now owns 75,222 shares of the insurance provider’s stock worth $4,284,000 after buying an additional 18,901 shares during the last quarter. Copeland Capital Management LLC acquired a new stake in AMERISAFE during the second quarter valued at $9,271,000. Thomson Horstmann & Bryant Inc. raised its stake in AMERISAFE by 1.2% in the second quarter. Thomson Horstmann & Bryant Inc. now owns 14,351 shares of the insurance provider’s stock valued at $817,000 after buying an additional 167 shares during the period. US Bancorp DE raised its stake in AMERISAFE by 1.2% in the second quarter. US Bancorp DE now owns 2,540 shares of the insurance provider’s stock valued at $145,000 after buying an additional 30 shares during the period. Finally, Aperio Group LLC raised its stake in AMERISAFE by 1.2% in the second quarter. Aperio Group LLC now owns 6,727 shares of the insurance provider’s stock valued at $383,000 after buying an additional 83 shares during the period. Hedge funds and other institutional investors own 99.64% of the company’s stock.
AMERISAFE (NASDAQ:AMSF) opened at 58.65 on Wednesday. AMERISAFE has a 1-year low of $51.20 and a 1-year high of $69.40. The firm’s 50-day moving average is $55.74 and its 200-day moving average is $60.10. The company has a market capitalization of $1.12 billion, a P/E ratio of 16.85 and a beta of 0.87.
AMERISAFE (NASDAQ:AMSF) last posted its quarterly earnings results on Wednesday, April 26th. The insurance provider reported $0.71 earnings per share for the quarter, missing the Zacks’ consensus estimate of $0.90 by $0.19. AMERISAFE had a return on equity of 14.05% and a net margin of 17.13%. The business had revenue of $97.72 million for the quarter, compared to analyst estimates of $97.61 million. During the same quarter in the prior year, the firm earned $1.27 EPS. The firm’s quarterly revenue was down 4.3% on a year-over-year basis. Equities research analysts predict that AMERISAFE will post $3.15 EPS for the current year.
AMERISAFE Company Profile
Amerisafe, Inc is an insurance holding company. The Company is engaged in providing workers’ compensation insurance focused on small to mid-sized employers engaged in hazardous industries, principally construction, trucking, logging and lumber, manufacturing, and agriculture. It is engaged in underwriting the workers’ compensation exposures inherent in these industries.
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