Atlas Financial Holdings, Inc. (NASDAQ:AFH) was upgraded by Zacks Investment Research from a “hold” rating to a “strong-buy” rating in a report released on Tuesday. The brokerage presently has a $19.00 price objective on the insurance provider’s stock. Zacks Investment Research‘s price objective suggests a potential upside of 14.80% from the stock’s current price.
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. “
Several other equities research analysts have also recently weighed in on the company. Sandler O’Neill upgraded Atlas Financial Holdings from a “hold” rating to a “buy” rating in a report on Wednesday, May 10th. Boenning Scattergood restated a “buy” rating on shares of Atlas Financial Holdings in a report on Tuesday, August 8th. JMP Securities initiated coverage on Atlas Financial Holdings in a report on Wednesday, May 24th. They set an “outperform” rating and a $18.00 target price for the company. Finally, ValuEngine cut Atlas Financial Holdings from a “hold” rating to a “sell” rating in a report on Friday, June 16th. One research 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 company presently has an average rating of “Buy” and an average price target of $18.67.
Atlas Financial Holdings (NASDAQ AFH) traded up 0.61% during mid-day trading on Tuesday, reaching $16.55. The company had a trading volume of 56,784 shares. The stock has a 50 day moving average price of $15.08 and a 200-day moving average price of $14.54. Atlas Financial Holdings has a 12-month low of $12.15 and a 12-month high of $18.40. The stock has a market capitalization of $199.10 million, a P/E ratio of 67.00 and a beta of 0.88.
Atlas Financial Holdings (NASDAQ:AFH) last announced its earnings results on Monday, August 7th. The insurance provider reported $0.72 earnings per share for the quarter, topping analysts’ consensus estimates of $0.42 by $0.30. The business 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 3.32% and a net margin of 1.67%. Equities analysts anticipate that Atlas Financial Holdings will post $1.66 EPS for the current fiscal year.
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In related news, Director Walter Frederick Walker acquired 5,000 shares of Atlas Financial Holdings stock in a transaction that occurred on Tuesday, July 11th. The stock was bought at an average price of $14.08 per share, with a total value of $70,400.00. The acquisition was disclosed in a document filed with the SEC, which can be accessed through this link. Also, insider Kingsway America Inc sold 28,191 shares of the firm’s stock in a transaction that occurred 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 corporate insiders.
A number of hedge funds and other institutional investors have recently bought and sold shares of AFH. Ariel Investments LLC raised its position 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 worth $15,298,000 after buying an additional 140,581 shares during the period. Vanguard Group Inc. raised its position in Atlas Financial Holdings by 11.0% in the second quarter. Vanguard Group Inc. now owns 457,267 shares of the insurance provider’s stock worth $6,813,000 after buying an additional 45,156 shares during the period. WCM Investment Management CA raised its position in Atlas Financial Holdings by 0.8% in the second quarter. WCM Investment Management CA now owns 448,883 shares of the insurance provider’s stock worth $6,688,000 after buying an additional 3,505 shares during the period. Tieton Capital Management LLC raised its position in Atlas Financial Holdings by 8.1% in the second quarter. Tieton Capital Management LLC now owns 366,520 shares of the insurance provider’s stock worth $5,461,000 after buying an additional 27,590 shares during the period. Finally, Royce & Associates LP raised its position 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 worth $4,161,000 after buying an additional 86,800 shares during the period. 78.35% of the stock is owned by 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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