Wall Street Zen Downgrades AMERISAFE (NASDAQ:AMSF) to Sell

AMERISAFE (NASDAQ:AMSF) was downgraded by equities researchers 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.

Other analysts have also issued research reports about the company. Weiss Ratings lowered AMERISAFE from a “hold (c-)” rating to a “sell (d+)” rating in a report on Tuesday, July 28th. Zacks Research upgraded AMERISAFE from a “strong sell” rating to a “hold” rating in a research note on Monday, September 28th. Finally, Truist Financial reduced their target price on AMERISAFE from $34.00 to $32.00 and set a “hold” rating for the company in a research report on Thursday, July 23rd. Two equities research analysts have rated the stock with a Buy rating, two have assigned a Hold rating and one has issued a Sell rating to the company’s stock. According to MarketBeat, the stock currently has a consensus rating of “Hold” and an average target price of $44.00.

AMERISAFE Stock Performance

NASDAQ AMSF opened at $23.28 on Friday. AMERISAFE has a twelve month low of $23.20 and a twelve month high of $43.45. The stock has a market cap of $431.61 million, a PE ratio of 9.39 and a beta of 0.24. The firm has a 50-day simple moving average of $26.21 and a 200 day simple moving average of $30.10.

AMERISAFE (NASDAQ:AMSF) last issued its quarterly 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). The firm had revenue of $91.97 million for 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%. Research analysts forecast that AMERISAFE will post 1.97 earnings per share for the current fiscal year.

Institutional Investors Weigh In On AMERISAFE

Several large investors have recently modified their holdings of the stock. BlackRock Inc. acquired a new position in shares of AMERISAFE in the 2nd quarter worth approximately $122,167,000. Auto Owners Insurance Co grew its position in AMERISAFE by 3,741.0% in the fourth quarter. Auto Owners Insurance Co now owns 16,397,229 shares of the insurance provider’s stock valued at $62,982,000 after acquiring an additional 15,970,329 shares during the period. Bank of America Corp DE grew its position in AMERISAFE by 6.7% in the first quarter. Bank of America Corp DE now owns 623,697 shares of the insurance provider’s stock valued at $20,788,000 after acquiring an additional 39,168 shares during the period. Renaissance Technologies LLC raised its stake in AMERISAFE by 19.3% during the first quarter. Renaissance Technologies LLC now owns 261,375 shares of the insurance provider’s stock worth $8,712,000 after acquiring an additional 42,375 shares in the last quarter. Finally, Sei Investments Co. raised its stake in AMERISAFE by 125.0% during the first quarter. Sei Investments Co. now owns 138,584 shares of the insurance provider’s stock worth $4,619,000 after acquiring an additional 76,989 shares in the last quarter. 97.41% of the stock is currently owned by institutional investors.

AMERISAFE Company Profile

AMERISAFE, Inc (NASDAQ: AMSF) is a specialty workers’ compensation insurance company serving small and midsize employers in industries with elevated workplace risks. The company provides coverage designed to help businesses manage the costs associated with work-related injuries and occupational illnesses.

Its primary markets include construction, trucking, logging, agriculture, maritime operations, oil and gas, and other hazardous industries. In addition to insurance coverage, AMERISAFE emphasizes workplace safety, risk management, claims handling and return-to-work support to help policyholders reduce accidents and manage employee injuries.

Headquartered in DeRidder, Louisiana, AMERISAFE has historically focused on selected U.S.