Zacks Investment Research upgraded shares of Atlas Financial Holdings, Inc. (NASDAQ:AFH) from a hold rating to a strong-buy rating in a research report report published on Tuesday. They currently have $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. “

A number of other equities research analysts also recently issued reports on the stock. Sandler O’Neill upgraded shares of Atlas Financial Holdings from a hold rating to a buy rating in a report on Wednesday, May 10th. JMP Securities began coverage on shares of Atlas Financial Holdings in a report on Wednesday, May 24th. They issued an outperform rating and a $18.00 target price for the company. Boenning Scattergood began coverage on shares of Atlas Financial Holdings in a report on Tuesday, June 13th. They issued an outperform rating and a $19.00 target price for the company. Finally, ValuEngine downgraded shares of Atlas Financial Holdings from a hold rating to a sell rating in a report on Friday, June 16th. One analyst has rated the stock with a sell rating, three have assigned a buy rating and one has assigned a strong buy rating to the company’s stock. The stock has an average rating of Buy and an average price target of $18.67.

Atlas Financial Holdings (NASDAQ AFH) opened at 16.55 on Tuesday. The firm has a 50-day moving average of $15.12 and a 200 day moving average of $14.53. Atlas Financial Holdings has a 12-month low of $12.15 and a 12-month high of $18.40. The firm has a market capitalization of $199.10 million, a price-to-earnings ratio of 67.00 and a beta of 0.88.

Atlas Financial Holdings (NASDAQ:AFH) last issued its quarterly earnings results on Monday, August 7th. The insurance provider reported $0.72 EPS for the quarter, topping analysts’ consensus estimates of $0.42 by $0.30. The business had revenue of $55.70 million during the quarter, compared to the consensus estimate of $58.50 million. Atlas Financial Holdings had a net margin of 1.67% and a negative return on equity of 3.32%. On average, equities analysts predict that Atlas Financial Holdings will post $1.66 EPS for the current year.

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In other Atlas Financial Holdings news, insider Kingsway America Inc sold 28,191 shares of Atlas Financial Holdings stock in a transaction that occurred on Thursday, June 29th. The shares were sold at an average price of $15.10, for a total transaction of $425,684.10. The sale was disclosed in a legal filing with the SEC, which can be accessed through the SEC website. Also, Director Walter Frederick Walker purchased 5,000 shares of Atlas Financial Holdings stock in a transaction on Tuesday, July 11th. The shares were acquired at an average cost of $14.08 per share, for a total transaction of $70,400.00. The disclosure for this purchase can be found here. Insiders own 12.70% of the company’s stock.

A number of hedge funds and other institutional investors have recently made changes to their positions in the stock. Buckhead Capital Management LLC boosted its position in shares of Atlas Financial Holdings by 113.7% in the first quarter. Buckhead Capital Management LLC now owns 57,130 shares of the insurance provider’s stock worth $780,000 after buying an additional 30,400 shares during the period. Diamond Hill Capital Management Inc. purchased a new position in Atlas Financial Holdings during the first quarter worth approximately $667,000. Bank of New York Mellon Corp boosted its position in Atlas Financial Holdings by 2.0% in the first quarter. Bank of New York Mellon Corp now owns 35,864 shares of the insurance provider’s stock worth $490,000 after buying an additional 710 shares during the last quarter. Wedbush Securities Inc. boosted its position in Atlas Financial Holdings by 5.3% in the first quarter. Wedbush Securities Inc. now owns 15,815 shares of the insurance provider’s stock worth $216,000 after buying an additional 800 shares during the last quarter. Finally, Oxford Asset Management boosted its position in Atlas Financial Holdings by 24.3% in the first quarter. Oxford Asset Management now owns 26,383 shares of the insurance provider’s stock worth $360,000 after buying an additional 5,153 shares during the last quarter. 78.35% of the stock is currently owned by hedge funds and other institutional investors.

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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