AMERISAFE (NASDAQ:AMSF) Stock Price Target Cut by Truist Financial

Key Points

• Truist Financial lowered AMERISAFE’s price target from $32 to $27 while maintaining a “hold” rating, implying roughly 8.17% upside from the prior close.
• Analyst sentiment is mixed, with two Buy ratings, two Holds and one Sell; the stock has an overall “Hold” consensus and an average price target of $35.67.
• AMERISAFE opened at $24.96 and is near its 52-week low of $23.20. The company recently reported quarterly EPS of $0.44, below the $0.52 consensus estimate, despite revenue exceeding expectations.

AMERISAFE (NASDAQ:AMSF - Get Free Report) had its target price decreased by analysts at Truist Financial from $32.00 to $27.00 in a note issued to investors on Tuesday, Benzinga reports. The brokerage presently has a "hold" rating on the insurance provider's stock. Truist Financial's target price points to a potential upside of 8.17% from the company's previous close.

Several other research firms have also recently commented on AMSF. Weiss Ratings cut shares of AMERISAFE from a "hold (c-)" rating to a "sell (d+)" rating in a report on Tuesday, July 28th. Citizens Jmp cut their price objective on AMERISAFE from $42.00 to $40.00 and set a "market outperform" rating for the company in a report on Monday. Morgan Stanley set a $40.00 price objective on AMERISAFE in a report on Monday. Citigroup reissued a "market outperform" rating on shares of AMERISAFE in a research report on Monday. Finally, Zacks Research upgraded AMERISAFE from a "strong sell" rating to a "hold" rating in a research note on Monday, September 28th. Two investment 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. According to data from MarketBeat.com, the stock presently has an average rating of "Hold" and an average price target of $35.67.

AMERISAFE Price Performance

NASDAQ AMSF opened at $24.96 on Tuesday. The firm has a market capitalization of $462.76 million, a price-to-earnings ratio of 10.06 and a beta of 0.24. The company has a 50 day simple moving average of $25.67 and a 200-day simple moving average of $29.81. AMERISAFE has a 52-week low of $23.20 and a 52-week high of $42.22.

AMERISAFE (NASDAQ:AMSF - Get Free Report) last announced its quarterly earnings data on Tuesday, July 21st. The insurance provider reported $0.44 EPS for the quarter, missing analysts' consensus estimates of $0.52 by ($0.08). AMERISAFE had a net margin of 14.00% and a return on equity of 14.87%. The company had revenue of $91.97 million for the quarter, compared to analysts' expectations of $85.09 million. On average, analysts predict that AMERISAFE will post 1.97 EPS for the current year.

Institutional Trading of AMERISAFE

Several large investors have recently added to or reduced their stakes in AMSF. Global Retirement Partners LLC acquired a new position in AMERISAFE during the second quarter worth $26,000. Parallel Advisors LLC raised its holdings 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 buying an additional 800 shares in the last quarter. Allworth Financial LP acquired a new stake in shares of AMERISAFE in the second quarter worth about $38,000. Versant Capital Management Inc lifted its position in shares of AMERISAFE by 978.4% in the third quarter. Versant Capital Management Inc now owns 1,650 shares of the insurance provider's stock worth $39,000 after buying an additional 1,497 shares during the last quarter. Finally, Quantbot Technologies LP acquired a new stake in shares of AMERISAFE in the second quarter worth about $49,000. 97.41% of the stock is owned by institutional investors.

AMERISAFE Company Profile

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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