AMERISAFE (NASDAQ:AMSF) Stock Dropped to "Sell" by Wall Street Zen

Key Points

• Wall Street Zen downgraded AMERISAFE to “Sell” from “Hold.” Despite mixed analyst views, the stock carries a consensus “Hold” rating and a $44.00 average price target.
• AMERISAFE shares opened at $23.59, near their 52-week low of $23.20 and well below the 52-week high of $43.73. The stock’s 50-day and 200-day moving averages were $26.35 and $30.19, respectively.
• The insurer’s latest quarterly earnings missed expectations, with adjusted EPS of $0.44 versus the $0.52 consensus, although revenue of $91.97 million exceeded estimates of $85.09 million.

AMERISAFE (NASDAQ:AMSF - Get Free Report) was downgraded by equities research analysts at Wall Street Zen from a "hold" rating to a "sell" rating in a research report issued on Sunday, Wall Street Zen reports.

Several other equities analysts have also recently weighed in on the company. Truist Financial decreased their price objective on AMERISAFE from $34.00 to $32.00 and set a "hold" rating for the company in a report on Thursday, July 23rd. Weiss Ratings lowered AMERISAFE from a "hold (c-)" rating to a "sell (d+)" rating in a research report on Tuesday, July 28th. Finally, Zacks Research raised AMERISAFE from a "strong sell" rating to a "hold" rating in a report on Monday, September 28th. Two research analysts have rated the stock with a Buy rating, two have issued a Hold rating and one has assigned a Sell rating to the stock. Based on data from MarketBeat, the stock presently has a consensus rating of "Hold" and a consensus target price of $44.00.

AMERISAFE Stock Performance

Shares of AMERISAFE stock opened at $23.59 on Friday. The firm has a market cap of $437.36 million, a PE ratio of 9.51 and a beta of 0.24. The business's 50 day simple moving average is $26.35 and its 200 day simple moving average is $30.19. AMERISAFE has a 52-week low of $23.20 and a 52-week high of $43.73.

AMERISAFE (NASDAQ:AMSF - Get Free Report) last issued its quarterly earnings results on Tuesday, July 21st. The insurance provider reported $0.44 earnings per share for the quarter, missing the consensus estimate of $0.52 by ($0.08). The business had revenue of $91.97 million for the quarter, compared to the consensus estimate of $85.09 million. AMERISAFE had a return on equity of 14.87% and a net margin of 14.00%. As a group, equities research analysts predict that AMERISAFE will post 1.97 EPS for the current year.

Institutional Trading of AMERISAFE

Several large investors have recently modified their holdings of the stock. Auto Owners Insurance Co increased its stake in AMERISAFE by 3,741.0% during the 4th quarter. Auto Owners Insurance Co now owns 16,397,229 shares of the insurance provider's stock valued at $62,982,000 after purchasing an additional 15,970,329 shares in the last quarter. BlackRock Inc. acquired a new stake in shares of AMERISAFE in the 2nd quarter worth about $122,167,000. Bank of America Corp DE bought a new position in AMERISAFE in the 2nd quarter valued at about $18,755,000. Bank of New York Mellon Corp acquired a new position in AMERISAFE during the 2nd quarter valued at about $3,583,000. Finally, Palisade Capital Management LP purchased a new stake in shares of AMERISAFE in the second quarter worth approximately $3,145,000. Institutional investors and hedge funds own 97.41% of the company's stock.

About AMERISAFE

AMERISAFE, Inc NASDAQ: AMSF is a specialty workers' compensation insurance company serving small and midsize employers in industries with elevated workplace risks. The company provides coverage designed to help businesses manage the costs associated with work-related injuries and occupational illnesses.

Its primary markets include construction, trucking, logging, agriculture, maritime operations, oil and gas, and other hazardous industries. In addition to insurance coverage, AMERISAFE emphasizes workplace safety, risk management, claims handling and return-to-work support to help policyholders reduce accidents and manage employee injuries.

Headquartered in DeRidder, Louisiana, AMERISAFE has historically focused on selected U.S.

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