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

Wall Street Zen downgraded shares of AMERISAFE (NASDAQ:AMSF) from a hold rating to a sell rating in a research report released on Tuesday,Wall Street Zen reports.

A number of other equities analysts have also weighed in on AMSF. Zacks Research raised shares of AMERISAFE from a “strong sell” rating to a “hold” rating in a research note on Monday, September 28th. Citigroup reissued a “market outperform” rating on shares of AMERISAFE in a research note on Monday, October 12th. Citizens Jmp dropped their target price on AMERISAFE from $42.00 to $40.00 and set a “market outperform” rating on the stock in a research report on Monday, October 12th. Morgan Stanley set a $40.00 target price on AMERISAFE in a research note on Monday, October 12th. Finally, Truist Financial reduced their price target on AMERISAFE from $32.00 to $27.00 and set a “hold” rating for the company in a research report on Tuesday, October 13th. Two investment analysts have rated the stock with a Buy rating, two have assigned a Hold rating and one has assigned a Sell rating to the company’s stock. According to MarketBeat.com, the company has a consensus rating of “Hold” and an average price target of $35.67.

AMERISAFE Stock Up 4.2%

NASDAQ:AMSF opened at $26.58 on Tuesday. AMERISAFE has a 12-month low of $23.20 and a 12-month high of $42.12. The stock’s fifty day simple moving average is $25.12 and its 200-day simple moving average is $29.38. The firm has a market capitalization of $492.79 million, a P/E ratio of 12.76 and a beta of 0.24.

AMERISAFE (NASDAQ:AMSF) last issued its 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). The firm had revenue of $91.97 million during the quarter, compared to the consensus estimate of $85.09 million. AMERISAFE had a net margin of 14.00% and a return on equity of 14.87%. As a group, equities research analysts expect that AMERISAFE will post 1.95 earnings per share for the current year.

Institutional Inflows and Outflows

Several large investors have recently added to or reduced their stakes in AMSF. Global Retirement Partners LLC acquired a new position in shares of AMERISAFE in the second quarter valued at about $26,000. Parallel Advisors LLC raised its stake in AMERISAFE by 5,714.3% in the 1st quarter. Parallel Advisors LLC now owns 814 shares of the insurance provider’s stock worth $27,000 after purchasing an additional 800 shares in the last quarter. Allworth Financial LP acquired a new stake in AMERISAFE in the 2nd quarter worth about $38,000. Quantbot Technologies LP bought a new stake in AMERISAFE in the 2nd quarter valued at about $49,000. Finally, Integrated Wealth Concepts LLC bought a new stake in AMERISAFE in the 2nd quarter valued at about $50,000. Institutional investors own 97.41% of the company’s stock.

About AMERISAFE

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.