Atlas Financial Holdings Inc (AFH) Receives Average Rating of “Buy” from Brokerages

Atlas Financial Holdings Inc (NASDAQ:AFH) has earned an average rating of “Buy” from the seven brokerages that are covering the company, Marketbeat Ratings reports. Five investment analysts have rated the stock with a buy rating and one has issued a strong buy rating on the company. The average 1 year price target among brokers that have issued ratings on the stock in the last year is $21.33.

A number of analysts recently commented on AFH shares. ValuEngine upgraded shares of Atlas Financial from a “hold” rating to a “buy” rating in a research note on Friday, December 1st. Zacks Investment Research cut shares of Atlas Financial from a “strong-buy” rating to a “hold” rating in a research note on Tuesday, October 10th. BidaskClub upgraded shares of Atlas Financial from a “hold” rating to a “buy” rating in a research note on Wednesday. Boenning Scattergood restated a “buy” rating on shares of Atlas Financial in a research note on Tuesday, November 7th. Finally, Sandler O’Neill restated a “buy” rating and set a $24.00 price target on shares of Atlas Financial in a research note on Wednesday, January 10th.

Atlas Financial (AFH) traded down $0.35 on Friday, reaching $20.40. 18,405 shares of the company’s stock were exchanged, compared to its average volume of 29,745. The company has a current ratio of 0.59, a quick ratio of 0.59 and a debt-to-equity ratio of 0.17. The stock has a market capitalization of $249.64, a PE ratio of 145.72 and a beta of 0.88. Atlas Financial has a 52-week low of $12.15 and a 52-week high of $21.50.

Atlas Financial (NASDAQ:AFH) last released its earnings results on Monday, November 6th. The insurance provider reported $0.63 earnings per share for the quarter, beating the Zacks’ consensus estimate of $0.42 by $0.21. Atlas Financial had a net margin of 0.92% and a negative return on equity of 2.57%. sell-side analysts expect that Atlas Financial will post 1.59 EPS for the current year.

In related news, Director Bruce Wayne Giles sold 7,776 shares of the company’s stock in a transaction that occurred on Wednesday, November 8th. The shares were sold at an average price of $20.10, for a total transaction of $156,297.60. Following the sale, the director now owns 79,018 shares of the company’s stock, valued at approximately $1,588,261.80. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, VP Paul Anthony Romano, Jr. sold 2,991 shares of the company’s stock in a transaction that occurred on Thursday, December 21st. The stock was sold at an average price of $18.75, for a total transaction of $56,081.25. Following the sale, the vice president now directly owns 77,655 shares in the company, valued at approximately $1,456,031.25. The disclosure for this sale can be found here. Insiders have sold a total of 179,029 shares of company stock worth $3,549,810 over the last 90 days. 13.30% of the stock is currently owned by corporate insiders.

Institutional investors have recently bought and sold shares of the stock. GMT Capital Corp bought a new stake in Atlas Financial during the 3rd quarter worth approximately $902,000. Vanguard Group Inc. increased its holdings in Atlas Financial by 11.0% during the 2nd quarter. Vanguard Group Inc. now owns 457,267 shares of the insurance provider’s stock worth $6,813,000 after acquiring an additional 45,156 shares during the period. Dimensional Fund Advisors LP increased its holdings in Atlas Financial by 31.8% during the 2nd quarter. Dimensional Fund Advisors LP now owns 268,143 shares of the insurance provider’s stock worth $3,995,000 after acquiring an additional 64,629 shares during the period. TIAA CREF Investment Management LLC increased its holdings in Atlas Financial by 35.5% during the 2nd quarter. TIAA CREF Investment Management LLC now owns 40,070 shares of the insurance provider’s stock worth $597,000 after acquiring an additional 10,500 shares during the period. Finally, Alpine Woods Capital Investors LLC bought a new stake in Atlas Financial during the 3rd quarter worth approximately $386,000. 79.66% of the stock is currently owned by institutional investors and hedge funds.

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About Atlas Financial

Atlas Financial Holdings Inc formerly JJR VI Acquisition Corp is a Canada-based company. It is engaged in the business of providing commercial automobile insurance in the United States with a niche market orientation. The Company’s automobile insurance products provide coverage in three areas: liability, accident benefits and physical damage.

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