AMERISAFE’s (AMSF) “Market Outperform” Rating Reaffirmed at JMP Securities

AMERISAFE (NASDAQ:AMSF)‘s stock had its “market outperform” rating reaffirmed by stock analysts at JMP Securities in a report released on Tuesday, Benzinga reports. They presently have a $65.00 price target on the insurance provider’s stock. JMP Securities’ target price indicates a potential upside of 27.50% from the stock’s previous close.

Separately, StockNews.com upgraded shares of AMERISAFE from a “sell” rating to a “hold” rating in a report on Thursday, August 8th.

AMERISAFE Price Performance

AMSF stock opened at $50.98 on Tuesday. AMERISAFE has a 52-week low of $41.97 and a 52-week high of $54.80. The company’s 50 day simple moving average is $48.54 and its 200-day simple moving average is $46.89. The firm has a market capitalization of $975.50 million, a P/E ratio of 15.88 and a beta of 0.34.

AMERISAFE (NASDAQ:AMSF) last released its quarterly earnings results on Monday, July 29th. The insurance provider reported $0.58 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.61 by ($0.03). AMERISAFE had a net margin of 18.46% and a return on equity of 16.38%. The firm had revenue of $75.83 million for the quarter, compared to analyst estimates of $74.20 million. During the same quarter in the prior year, the firm earned $0.73 EPS. Sell-side analysts predict that AMERISAFE will post 2.4 EPS for the current fiscal year.

Institutional Inflows and Outflows

Large investors have recently added to or reduced their stakes in the stock. Kathleen S. Wright Associates Inc. acquired a new position in AMERISAFE in the 3rd quarter valued at approximately $28,000. Quarry LP increased its stake in AMERISAFE by 1,028.4% in the 2nd quarter. Quarry LP now owns 756 shares of the insurance provider’s stock valued at $33,000 after buying an additional 689 shares during the period. Isthmus Partners LLC increased its stake in AMERISAFE by 14.4% in the 2nd quarter. Isthmus Partners LLC now owns 76,870 shares of the insurance provider’s stock valued at $34,000 after buying an additional 9,672 shares during the period. GAMMA Investing LLC increased its stake in AMERISAFE by 97.1% in the 3rd quarter. GAMMA Investing LLC now owns 822 shares of the insurance provider’s stock valued at $40,000 after buying an additional 405 shares during the period. Finally, Point72 DIFC Ltd acquired a new position in AMERISAFE in the 2nd quarter valued at approximately $100,000. Institutional investors and hedge funds own 97.41% of the company’s stock.

AMERISAFE Company Profile

AMERISAFE, Inc, an insurance holding company, underwrites workers’ compensation insurance in the United States. The company provides benefits to injured employees for temporary or permanent disability, death, and medical and hospital expenses. It sells its products through retail and wholesale brokers and agents; and small and mid-sized employers engaged in hazardous industries, including construction, trucking, logging and lumber, agriculture, manufacturing, telecommunications, and maritime.