AMERISAFE (NASDAQ:AMSF) Stock Rating Cut to Sell at Wall Street Zen

Key Points

• Wall Street Zen downgraded AMERISAFE from “hold” to “sell,” while the broader analyst consensus remains “hold” with an average price target of $35.67.
• AMERISAFE shares opened at $25.34 and are near the lower end of their 52-week range of $23.20 to $42.21; the stock’s 200-day moving average is $29.52.
• The insurer reported quarterly EPS of $0.44, missing the $0.52 consensus estimate, despite revenue of $91.97 million exceeding analyst expectations of $85.09 million.

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

Several other equities analysts also recently issued reports on AMSF. Morgan Stanley set a $40.00 price target on shares of AMERISAFE in a report on Monday, October 12th. Citigroup reiterated a "market outperform" rating on shares of AMERISAFE in a report on Monday, October 12th. Truist Financial dropped their price objective on AMERISAFE from $32.00 to $27.00 and set a "hold" rating for the company in a report on Tuesday, October 13th. Zacks Research upgraded shares of AMERISAFE from a "strong sell" rating to a "hold" rating in a research report on Monday, September 28th. Finally, Weiss Ratings lowered shares of AMERISAFE from a "hold (c-)" rating to a "sell (d+)" rating in a research note on Tuesday, July 28th. Two investment analysts have rated the stock with a Buy rating, two have issued a Hold rating and one has issued a Sell rating to the company's stock. According to data from MarketBeat, AMERISAFE has a consensus rating of "Hold" and an average target price of $35.67.

AMERISAFE Price Performance

AMERISAFE stock opened at $25.34 on Tuesday. The company has a market capitalization of $469.80 million, a PE ratio of 12.62 and a beta of 0.24. AMERISAFE has a one year low of $23.20 and a one year high of $42.21. The business has a 50 day simple moving average of $25.24 and a 200 day simple moving average of $29.52.

AMERISAFE (NASDAQ:AMSF - Get Free Report) last announced its quarterly earnings results on Tuesday, July 21st. The insurance provider reported $0.44 EPS for the quarter, missing the consensus estimate 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 during the quarter, compared to analyst estimates of $85.09 million. Equities analysts anticipate that AMERISAFE will post 1.95 earnings per share for the current fiscal year.

Institutional Trading of AMERISAFE

Hedge funds and other institutional investors have recently made changes to their positions in the business. Counterpoint Mutual Funds LLC bought a new position in AMERISAFE in the third quarter valued at $431,000. Versant Capital Management Inc increased its stake in AMERISAFE by 978.4% in the 3rd quarter. Versant Capital Management Inc now owns 1,650 shares of the insurance provider's stock valued at $39,000 after buying an additional 1,497 shares during the last quarter. Sequoia Financial Advisors LLC acquired a new stake in AMERISAFE in the 2nd quarter valued at $411,000. Integrated Wealth Concepts LLC bought a new stake in AMERISAFE during the 2nd quarter worth about $50,000. Finally, Squarepoint Ops LLC boosted its stake in shares of AMERISAFE by 56.2% during the 2nd quarter. Squarepoint Ops LLC now owns 27,654 shares of the insurance provider's stock worth $936,000 after buying an additional 9,949 shares during the last quarter. 97.41% of the stock is currently owned by institutional investors and hedge funds.

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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