Amerisafe (NASDAQ:AMSF) was upgraded by Zacks Investment Research from a “hold” rating to a “buy” rating in a note issued to investors on Tuesday. The firm presently has a $69.00 price target on the insurance provider’s stock. Zacks Investment Research‘s price target indicates a potential upside of 9.09% from the stock’s current price.
According to Zacks, “Amerisafe's shares have outperformed its industry in a year's time. Its revenue growth catching up along with a rebound in net investment income should aid its top-line growth. Its strong balance sheet is another positive. The company's consistently increasing return on equity highlights its efficiency in using shareholder’s funds. Amerisafe’s efficient claims management, good underwriting results, favorable loss and frequency trends, prudent reserve analytics, and improved operating leverage also bode well. However, a rise in expenses remains a headwind for the company. Its exposure to product concentration is another concern. A Zacks Rank #2 and Earnings ESP of 0.00% leaves us inconclusive of an earnings surprise as it reports fourth quarter results on Feb 27.”
Several other equities research analysts also recently issued reports on the company. BidaskClub upgraded Amerisafe from a “hold” rating to a “buy” rating in a report on Tuesday. ValuEngine downgraded Amerisafe from a “buy” rating to a “hold” rating in a report on Wednesday, January 9th. Finally, Boenning Scattergood reiterated a “hold” rating on shares of Amerisafe in a report on Thursday, October 25th. Two research analysts have rated the stock with a hold rating and four have given a buy rating to the stock. The company presently has a consensus rating of “Buy” and an average price target of $65.67.
A number of institutional investors and hedge funds have recently added to or reduced their stakes in AMSF. Quantamental Technologies LLC acquired a new position in Amerisafe during the 4th quarter worth $51,000. Oppenheimer Asset Management Inc. acquired a new position in Amerisafe during the 4th quarter worth $57,000. Zurcher Kantonalbank Zurich Cantonalbank grew its stake in Amerisafe by 36.1% during the 4th quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 1,213 shares of the insurance provider’s stock worth $69,000 after purchasing an additional 322 shares in the last quarter. Advisor Group Inc. grew its stake in Amerisafe by 38.1% during the 4th quarter. Advisor Group Inc. now owns 1,370 shares of the insurance provider’s stock worth $78,000 after purchasing an additional 378 shares in the last quarter. Finally, Neuburgh Advisers LLC grew its stake in Amerisafe by 10.4% during the 4th quarter. Neuburgh Advisers LLC now owns 3,036 shares of the insurance provider’s stock worth $172,000 after purchasing an additional 286 shares in the last quarter.
Amerisafe Company Profile
AMERISAFE, Inc, an insurance holding company, provides workers' compensation insurance in the United States. Its workers' compensation insurance policies provide benefits to injured employees for temporary or permanent disability, death, and medical and hospital expenses. The company serves small to mid-sized employers involved in construction, trucking, logging and lumber, manufacturing, agriculture, maritime, oil and gas, and other industries through agencies.
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