Atlas Financial Holdings, Inc. (NASDAQ:AFH) was upgraded by research analysts at TheStreet from a “c” rating to a “b-” rating in a report issued on Friday.
Other equities analysts also recently issued reports about the company. JMP Securities assumed coverage on Atlas Financial Holdings in a research report on Wednesday, May 24th. They set an “outperform” rating and a $18.00 target price on the stock. Boenning Scattergood assumed coverage on Atlas Financial Holdings in a research report on Tuesday, June 13th. They set an “outperform” rating and a $19.00 target price on the stock. ValuEngine downgraded Atlas Financial Holdings from a “hold” rating to a “sell” rating in a research report on Friday, June 16th. Zacks Investment Research upgraded Atlas Financial Holdings from a “hold” rating to a “strong-buy” rating and set a $19.00 target price on the stock in a research report on Tuesday, August 15th. Finally, Sandler O’Neill upgraded Atlas Financial Holdings from a “hold” rating to a “buy” rating in a research report on Wednesday, May 10th. One investment 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 stock presently has a consensus rating of “Buy” and a consensus target price of $18.67.
Atlas Financial Holdings (NASDAQ AFH) opened at 16.00 on Friday. The stock has a market cap of $192.48 million, a PE ratio of 64.78 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. The stock’s 50 day moving average price is $15.25 and its 200-day moving average price is $14.51.
Atlas Financial Holdings (NASDAQ:AFH) last released its earnings results on Monday, August 7th. The insurance provider reported $0.72 earnings per share for the quarter, beating the Thomson Reuters’ consensus estimate of $0.42 by $0.30. The company had revenue of $55.70 million for the quarter, compared to the consensus estimate of $58.50 million. Atlas Financial Holdings had a negative return on equity of 3.32% and a net margin of 1.67%. Analysts anticipate that Atlas Financial Holdings will post $1.66 EPS for the current fiscal year.
In other Atlas Financial Holdings news, Director Walter Frederick Walker acquired 5,000 shares of the stock in a transaction dated 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 purchase was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this link. Also, insider Kingsway America Inc sold 28,191 shares of the business’s stock in a transaction dated 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.
Institutional investors have recently made changes to their positions in the stock. Goldman Sachs Group Inc. acquired a new position in shares of Atlas Financial Holdings during the second quarter valued at approximately $151,000. Citadel Advisors LLC acquired a new position in shares of Atlas Financial Holdings during the second quarter valued at approximately $161,000. Parametric Portfolio Associates LLC acquired a new position in shares of Atlas Financial Holdings during the second quarter valued at approximately $165,000. Rhumbline Advisers increased its position in shares of Atlas Financial Holdings by 2.5% in the second quarter. Rhumbline Advisers now owns 11,737 shares of the insurance provider’s stock valued at $175,000 after buying an additional 290 shares during the last quarter. Finally, Wedbush Securities Inc. increased its position in shares of Atlas Financial Holdings by 5.3% in the first quarter. Wedbush Securities Inc. now owns 15,815 shares of the insurance provider’s stock valued at $216,000 after buying an additional 800 shares during the last quarter. Institutional investors and hedge funds own 78.35% 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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