Wall Street Zen Upgrades AMERISAFE (NASDAQ:AMSF) to "Hold"

Key Points

• Wall Street Zen upgraded AMERISAFE from “sell” to “hold,” but analyst sentiment remains mixed; the overall consensus is “Hold” with an average price target of $44.
• AMERISAFE’s shares opened at $23.51, near their 52-week low of $23.50 and well below the 52-week high of $44.66. The stock’s 50-day and 200-day moving averages are $27.18 and $30.52, respectively.
• The insurer reported quarterly EPS of $0.44, missing the $0.52 consensus estimate, although revenue of $91.97 million exceeded expectations. Institutional investors own approximately 97.4% of the company.

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

AMSF has been the topic of several other reports. Zacks Research downgraded AMERISAFE from a "hold" rating to a "strong sell" rating in a research note on Monday, July 27th. Truist Financial lowered their price target on AMERISAFE from $34.00 to $32.00 and set a "hold" rating on the stock in a report on Thursday, July 23rd. Finally, Weiss Ratings cut AMERISAFE from a "hold (c-)" rating to a "sell (d+)" rating in a research report on Tuesday, July 28th. Two research analysts have rated the stock with a Buy rating, one has issued a Hold rating and two have assigned a Sell rating to the company's stock. According to data from MarketBeat.com, AMERISAFE presently has a consensus rating of "Hold" and an average target price of $44.00.

AMERISAFE Stock Performance

Shares of AMSF stock opened at $23.51 on Friday. The company has a market capitalization of $435.88 million, a price-to-earnings ratio of 9.48 and a beta of 0.23. AMERISAFE has a one year low of $23.50 and a one year high of $44.66. The company's 50-day moving average is $27.18 and its 200 day moving average is $30.52.

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

Institutional Inflows and Outflows

Several institutional investors have recently made changes to their positions in the stock. Clearstead Advisors LLC raised its stake in AMERISAFE by 142.4% during the 4th quarter. Clearstead Advisors LLC now owns 657 shares of the insurance provider's stock valued at $25,000 after purchasing an additional 386 shares during the period. Global Retirement Partners LLC bought a new position in AMERISAFE in the 2nd quarter worth approximately $26,000. Hantz Financial Services Inc. boosted its position in shares of AMERISAFE by 159.6% during the fourth quarter. Hantz Financial Services Inc. now owns 714 shares of the insurance provider's stock worth $27,000 after acquiring an additional 439 shares during the last quarter. Parallel Advisors LLC grew 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 acquiring an additional 800 shares in the last quarter. Finally, Allworth Financial LP purchased a new position in AMERISAFE during the second quarter valued at $38,000. Institutional investors own 97.41% of the company's stock.

About AMERISAFE

AMERISAFE, Inc NASDAQ: AMSF is a specialty workers' compensation insurance company headquartered in DeRidder, Louisiana. Through its insurance subsidiaries, the company provides workers' compensation coverage to small and mid-sized employers whose operations involve relatively high workplace risks.

The company focuses on industries such as construction, trucking, logging, agriculture, manufacturing, oil and gas, and other hazardous occupations. Its services include workers' compensation underwriting, claims administration, workplace safety and loss-control services, and premium auditing.

AMERISAFE primarily serves employers across the southeastern and other selected regions of the United States.

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