AMERISAFE (NASDAQ:AMSF) Cut to "Strong Sell" at Zacks Research

Key Points

• Zacks Research downgraded AMERISAFE from “hold” to “strong sell.” Analyst views remain mixed, with MarketBeat reporting an average “hold” rating and a consensus price target of $33.33.
• AMERISAFE’s latest quarter fell short of expectations: earnings were $0.40 per share versus $0.48 expected, and revenue was $79.81 million versus $84.72 million expected.
• The stock opened at $20.33, near its 52-week low of $19.99 and below its 50-day and 200-day moving averages.

AMERISAFE (NASDAQ:AMSF - Get Free Report) was downgraded by investment analysts at Zacks Research from a "hold" rating to a "strong sell" rating in a report issued on Wednesday, Zacks reports.

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

AMERISAFE Stock Performance

NASDAQ:AMSF opened at $20.33 on Wednesday. The stock has a 50-day simple moving average of $24.44 and a two-hundred day simple moving average of $30.63. AMERISAFE has a 52-week low of $19.99 and a 52-week high of $42.10. The firm has a market capitalization of $376.71 million, a PE ratio of 9.46 and a beta of 0.23.

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

Institutional Investors Weigh In On AMERISAFE

Institutional investors have recently added to or reduced their stakes in the stock. Global Retirement Partners LLC bought a new stake in AMERISAFE in the second quarter worth $26,000. Parallel Advisors LLC raised its stake in AMERISAFE by 5,714.3% during the first quarter. Parallel Advisors LLC now owns 814 shares of the insurance provider's stock valued at $27,000 after purchasing an additional 800 shares in the last quarter. Allworth Financial LP purchased a new stake in AMERISAFE during the second quarter valued at $38,000. Versant Capital Management Inc lifted its position in AMERISAFE by 978.4% during the third quarter. Versant Capital Management Inc now owns 1,650 shares of the insurance provider's stock valued at $39,000 after purchasing an additional 1,497 shares during the last quarter. Finally, Quantbot Technologies LP bought a new position in AMERISAFE during the second quarter valued at $49,000. 97.41% of the stock is owned by hedge funds and other institutional investors.

AMERISAFE Company Profile

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.

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