Atlas Financial Holdings, Inc. (AFH) Receives “Buy” Rating from Boenning Scattergood
Atlas Financial Holdings, Inc. (NASDAQ:AFH)‘s stock had its “buy” rating reiterated by investment analysts at Boenning Scattergood in a report released on Tuesday.
The analysts wrote, “We are raising our estimates and target price, and maintaining our Outperform rating.””
A number of other brokerages also recently issued reports on AFH. Sandler O’Neill upgraded Atlas Financial Holdings from a “hold” rating to a “buy” rating in a research report on Wednesday, May 10th. JMP Securities initiated coverage on Atlas Financial Holdings in a research report on Wednesday, May 24th. They set an “outperform” rating and a $18.00 price objective on the stock. Finally, ValuEngine downgraded Atlas Financial Holdings from a “hold” rating to a “sell” rating in a research report on Friday, June 16th. One research analyst has rated the stock with a sell rating, one has assigned a hold rating and three have assigned a buy rating to the company’s stock. Atlas Financial Holdings currently has a consensus rating of “Hold” and an average price target of $18.50.
Atlas Financial Holdings (NASDAQ:AFH) opened at 15.45 on Tuesday. The stock’s 50 day moving average price is $14.88 and its 200-day moving average price is $14.59. Atlas Financial Holdings has a 52-week low of $12.15 and a 52-week high of $18.40. The stock has a market capitalization of $185.86 million, a PE ratio of 78.03 and a beta of 0.88.
Atlas Financial Holdings (NASDAQ:AFH) last posted its earnings results on Monday, May 8th. The insurance provider reported $0.61 EPS for the quarter, topping the consensus estimate of $0.32 by $0.29. The firm had revenue of $49.82 million for the quarter. Atlas Financial Holdings had a negative return on equity of 4.19% and a net margin of 1.46%. On average, equities analysts expect that Atlas Financial Holdings will post $1.59 EPS for the current fiscal year.
In other news, insider Kingsway America Inc sold 28,191 shares of the business’s stock in a transaction dated Thursday, June 29th. The stock was sold at an average price of $15.10, for a total value of $425,684.10. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, Director Walter Frederick Walker bought 5,000 shares of Atlas Financial Holdings stock in a transaction dated Tuesday, July 11th. The stock was purchased at an average cost of $14.08 per share, with a total value of $70,400.00. The disclosure for this purchase can be found here. Insiders own 12.70% of the company’s stock.
Hedge funds have recently bought and sold shares of the stock. Prudential Financial Inc. boosted its position in shares of Atlas Financial Holdings by 48.4% in the first quarter. Prudential Financial Inc. now owns 35,835 shares of the insurance provider’s stock valued at $489,000 after buying an additional 11,683 shares during the period. Great Lakes Advisors LLC boosted its position in Atlas Financial Holdings by 54.0% in the first quarter. Great Lakes Advisors LLC now owns 218,057 shares of the insurance provider’s stock valued at $2,976,000 after buying an additional 76,428 shares during the last quarter. Oxford Asset Management boosted its position in Atlas Financial Holdings by 24.3% in the first quarter. Oxford Asset Management now owns 26,383 shares of the insurance provider’s stock valued at $360,000 after buying an additional 5,153 shares during the last quarter. Wedbush Securities Inc. boosted its position in Atlas Financial Holdings by 5.3% in the first quarter. Wedbush Securities Inc. now owns 15,815 shares of the insurance provider’s stock valued at $216,000 after buying an additional 800 shares during the last quarter. Finally, Royce & Associates LP boosted its position in Atlas Financial Holdings by 39.8% in the first quarter. Royce & Associates LP now owns 304,800 shares of the insurance provider’s stock valued at $4,161,000 after buying an additional 86,800 shares during the last quarter. 80.27% of the stock is owned by institutional investors and hedge funds.
Atlas Financial Holdings Company Profile
Atlas Financial Holdings Inc formerly JJR VI Acquisition Corp is a Canada-based company. It is engaged in the business of providing commercial automobile insurance in the United States with a niche market orientation. The Company’s automobile insurance products provide coverage in three areas: liability, accident benefits and physical damage.
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