Zacks Investment Research upgraded shares of Atlas Financial Holdings, Inc. (NASDAQ:AFH) from a hold rating to a strong-buy rating in a research note published on Tuesday. The firm currently has $19.00 price target on the insurance provider’s stock.
According to Zacks, “Atlas Financial Holdings Inc. provides commercial automobile insurance policies primarily in the United States through its subsidiaries. The company provides insurance coverage to taxi cabs, non-emergency para-transit, limousine/livery and business auto. Atlas Financial Holdings Inc. is based in United States. “
Other analysts have also recently issued reports about the stock. Boenning Scattergood reissued a buy rating on shares of Atlas Financial Holdings in a research note on Tuesday, August 8th. ValuEngine cut shares of Atlas Financial Holdings from a hold rating to a sell rating in a research note on Friday, June 16th. JMP Securities initiated coverage on shares of Atlas Financial Holdings in a research note on Wednesday, May 24th. They set an outperform rating and a $18.00 price objective for the company. Finally, Sandler O’Neill raised shares of Atlas Financial Holdings from a hold rating to a buy rating in a research note on Wednesday, May 10th. One research analyst has rated the stock with a sell rating, three have given a buy rating and one has given a strong buy rating to the company’s stock. The company has an average rating of Buy and an average target price of $18.67.
Atlas Financial Holdings (NASDAQ AFH) opened at 16.00 on Tuesday. The stock has a market capitalization of $192.48 million, a price-to-earnings ratio of 64.78 and a beta of 0.88. The company has a 50-day moving average price of $15.21 and a 200 day moving average price of $14.55. Atlas Financial Holdings has a 12 month low of $12.15 and a 12 month high of $18.40.
Atlas Financial Holdings (NASDAQ:AFH) last released its earnings results on Monday, August 7th. The insurance provider reported $0.72 EPS for the quarter, topping the Thomson Reuters’ consensus estimate of $0.42 by $0.30. The firm had revenue of $55.70 million during the quarter, compared to analysts’ expectations of $58.50 million. Atlas Financial Holdings had a net margin of 1.67% and a negative return on equity of 3.32%. Equities analysts predict that Atlas Financial Holdings will post $1.66 earnings per share for the current year.
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In other news, Director Walter Frederick Walker acquired 5,000 shares of the business’s stock in a transaction on Tuesday, July 11th. The shares were purchased at an average price of $14.08 per share, for a total transaction of $70,400.00. The purchase was disclosed in a legal filing with the SEC, which is available through this link. Also, insider Kingsway America Inc sold 28,191 shares of the business’s stock in a transaction on Thursday, June 29th. The stock was sold at an average price of $15.10, for a total transaction of $425,684.10. The disclosure for this sale can be found here. Insiders own 12.70% of the company’s stock.
Large investors have recently modified their holdings of the stock. Tieton Capital Management LLC bought a new stake in shares of Atlas Financial Holdings during the first quarter worth about $4,626,000. Ariel Investments LLC raised its stake in shares of Atlas Financial Holdings by 14.3% in the first quarter. Ariel Investments LLC now owns 1,120,753 shares of the insurance provider’s stock worth $15,298,000 after buying an additional 140,581 shares during the period. Rice Hall James & Associates LLC bought a new stake in shares of Atlas Financial Holdings during the second quarter worth about $1,770,000. Pacific Ridge Capital Partners LLC bought a new stake in shares of Atlas Financial Holdings during the second quarter worth about $1,582,000. Finally, Essex Investment Management Co. LLC bought a new stake in shares of Atlas Financial Holdings during the second quarter worth about $1,538,000. Institutional investors and hedge funds own 78.35% of the company’s stock.
About Atlas Financial Holdings
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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