AMERISAFE (NASDAQ:AMSF) Stock Rating Lowered by Zacks Research

AMERISAFE (NASDAQ:AMSF) was downgraded by research analysts at Zacks Research from a “hold” rating to a “strong sell” rating in a note issued to investors on Wednesday, Zacks reports.

A number of other equities research analysts have also issued reports on the company. Weiss Ratings reissued a “sell (d+)” rating on shares of AMERISAFE in a research note on Monday, October 26th. Truist Financial cut their price objective on AMERISAFE from $27.00 to $25.00 and set a “hold” rating on the stock in a research report on Friday, October 30th. Citigroup reiterated a “market outperform” rating on shares of AMERISAFE in a research note on Monday, October 12th. Citizens Jmp lowered their price objective on shares of AMERISAFE from $40.00 to $35.00 and set a “market outperform” rating for the company in a research report on Thursday, October 29th. Finally, Wall Street Zen raised AMERISAFE from a “sell” rating to a “hold” rating in a research report on Saturday, October 31st. Two equities 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. According to data from MarketBeat.com, the stock currently has an average rating of “Hold” and an average target price of $33.33.

AMERISAFE Trading Down 0.0%

NASDAQ AMSF opened at $20.33 on Wednesday. AMERISAFE has a 12 month low of $19.99 and a 12 month high of $42.10. The stock’s 50 day moving average is $24.44 and its 200 day moving average is $30.63. The stock has a market cap of $376.71 million, a PE ratio of 9.46 and a beta of 0.23.

AMERISAFE (NASDAQ:AMSF) last posted its earnings results on Wednesday, October 28th. The insurance provider reported $0.40 EPS for the quarter, missing analysts’ consensus estimates of $0.48 by ($0.08). AMERISAFE had a return on equity of 14.15% and a net margin of 12.10%. The firm had revenue of $79.81 million during the quarter, compared to analysts’ expectations of $84.72 million. On average, analysts forecast that AMERISAFE will post 1.88 EPS for the current fiscal year.

Hedge Funds Weigh In On AMERISAFE

Institutional investors have recently made changes to their positions in the company. Parallel Advisors LLC raised its stake in shares of AMERISAFE by 1,405.0% in the third quarter. Parallel Advisors LLC now owns 2,709 shares of the insurance provider’s stock valued at $64,000 after acquiring an additional 2,529 shares in the last quarter. CenterBook Partners LP purchased a new position in shares of AMERISAFE in the 3rd quarter valued at about $477,000. Mirae Asset Global Investments Co. Ltd. acquired a new stake in shares of AMERISAFE during the 3rd quarter worth about $417,000. Isthmus Partners LLC raised its position in shares of AMERISAFE by 28.1% during the 3rd quarter. Isthmus Partners LLC now owns 136,969 shares of the insurance provider’s stock worth $3,237,000 after acquiring an additional 30,083 shares in the last quarter. Finally, Counterpoint Mutual Funds LLC acquired a new stake in shares of AMERISAFE during the 3rd quarter worth about $431,000. 97.41% of the stock is owned by hedge funds and other institutional investors.

AMERISAFE Company Profile

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.