Atlas Financial Holdings, Inc. (AFH) Given Buy Rating at Boenning Scattergood
Atlas Financial Holdings, Inc. (NASDAQ:AFH)‘s stock had its “buy” rating reissued by investment analysts at Boenning Scattergood in a research note issued to investors on Tuesday.
The analysts wrote, “We are raising our estimates and target price, and maintaining our Outperform rating.””
A number of other research firms have also weighed in on AFH. ValuEngine lowered Atlas Financial Holdings from a “hold” rating to a “sell” rating in a report on Friday, June 16th. Sandler O’Neill raised Atlas Financial Holdings from a “hold” rating to a “buy” rating in a report on Wednesday, May 10th. Finally, JMP Securities began coverage on Atlas Financial Holdings in a report on Wednesday, May 24th. They set an “outperform” rating and a $18.00 target price on the stock. One investment analyst has rated the stock with a sell rating, one has given a hold rating and three have assigned a buy rating to the stock. The company has a consensus rating of “Hold” and an average target price of $18.50.
Atlas Financial Holdings (NASDAQ:AFH) opened at 16.60 on Tuesday. The company has a 50-day moving average price of $14.88 and a 200-day moving average price of $14.59. The firm has a market cap of $199.70 million, a P/E ratio of 83.84 and a beta of 0.88. 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 posted its quarterly earnings results on Monday, August 7th. The insurance provider reported $0.72 earnings per share for the quarter, topping the Thomson Reuters’ consensus estimate of $0.42 by $0.30. The firm had revenue of $55.70 million for the quarter, compared to analyst estimates of $58.50 million. Atlas Financial Holdings had a negative return on equity of 3.35% and a net margin of 1.67%. On average, 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 purchased 5,000 shares of Atlas Financial Holdings stock in a transaction that occurred on Tuesday, July 11th. The stock was acquired at an average cost of $14.08 per share, for a total transaction of $70,400.00. The transaction was disclosed in a legal filing with the SEC, which is available through the SEC website. Also, insider Kingsway America Inc sold 28,191 shares of the business’s stock in a transaction on Thursday, June 29th. The shares were sold at an average price of $15.10, for a total value of $425,684.10. The disclosure for this sale can be found here. 12.70% of the stock is currently owned by insiders.
A number of hedge funds have recently added to or reduced their stakes in AFH. Geode Capital Management LLC increased its stake in Atlas Financial Holdings by 3.6% in the first quarter. Geode Capital Management LLC now owns 75,786 shares of the insurance provider’s stock valued at $1,034,000 after buying an additional 2,608 shares during the period. Foresters Investment Management Company Inc. increased its stake in Atlas Financial Holdings by 0.6% in the first quarter. Foresters Investment Management Company Inc. now owns 246,000 shares of the insurance provider’s stock valued at $3,358,000 after buying an additional 1,500 shares during the period. Royce & Associates LP increased its stake 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 period. Ariel Investments LLC increased its stake in 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 valued at $15,298,000 after buying an additional 140,581 shares during the period. Finally, Tieton Capital Management LLC purchased a new stake in Atlas Financial Holdings during the first quarter valued at about $4,626,000. Institutional investors and hedge funds own 80.27% of the company’s stock.
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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