AMERISAFE (NASDAQ:AMSF) Stock Rating Lowered by Wall Street Zen

Key Points

• Wall Street Zen downgraded AMERISAFE from “hold” to “sell.” Analyst views remain mixed, with MarketBeat reporting an overall “hold” consensus and an average price target of $33.33.
• AMERISAFE’s latest quarterly results fell short of expectations: earnings were $0.40 per share versus a $0.48 consensus, while revenue was $79.81 million against estimates of $84.72 million.
• The stock opened at $19.59, close to its 52-week low of $19.39; its 50-day and 200-day moving averages were $24.31 and $30.54, respectively.

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

A number of other equities research analysts have also recently issued reports on AMSF. Weiss Ratings reissued a "sell (d+)" rating on shares of AMERISAFE in a research note on Monday, October 26th. Morgan Stanley set a $40.00 price objective on shares of AMERISAFE in a research report on Monday, October 12th. Citigroup restated a "market outperform" rating on shares of AMERISAFE in a research report on Monday, October 12th. Truist Financial decreased their price objective on shares of AMERISAFE from $27.00 to $25.00 and set a "hold" rating on the stock in a report on Friday, October 30th. Finally, Citizens Jmp dropped their target price on shares of AMERISAFE from $40.00 to $35.00 and set a "market outperform" rating on the stock in a research report on Thursday, October 29th. Two research analysts have rated the stock with a Buy rating, one has issued a Hold rating and two have given a Sell rating to the company's stock. Based on data from MarketBeat.com, the stock presently has an average rating of "Hold" and a consensus price target of $33.33.

AMERISAFE Stock Performance

NASDAQ:AMSF opened at $19.59 on Friday. The stock has a market capitalization of $363.06 million, a P/E ratio of 9.11 and a beta of 0.23. The company's 50-day simple moving average is $24.31 and its 200-day simple moving average is $30.54. AMERISAFE has a fifty-two week low of $19.39 and a fifty-two week high of $42.10.

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

Institutional Investors Weigh In On AMERISAFE

Large investors have recently modified their holdings of the business. Public Employees Retirement System of Ohio acquired a new stake in shares of AMERISAFE in the second quarter valued at about $1,344,000. Bank of America Corp DE lifted its stake in shares of AMERISAFE by 6.7% in the first quarter. Bank of America Corp DE now owns 623,697 shares of the insurance provider's stock worth $20,788,000 after buying an additional 39,168 shares in the last quarter. Legal & General Group Plc acquired a new position in AMERISAFE during the second quarter worth about $1,539,000. Bank of New York Mellon Corp acquired a new position in AMERISAFE during the second quarter worth about $3,583,000. Finally, Palisade Capital Management LP acquired a new position in AMERISAFE during the second quarter worth about $3,145,000. Hedge funds and other institutional investors own 97.41% of the company's stock.

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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