In a report released yesterday, Mark Hughes from SunTrust Robinson reiterated a Buy rating on Amerisafe (NASDAQ: AMSF), with a price target of $69. The company’s shares opened today at $63.55, close to its 52-week high of $65.50.
According to TipRanks.com, Hughes is a 4-star analyst with an average return of 11.6% and a 70.5% success rate. Hughes covers the Financial sector, focusing on stocks such as Arthur J Gallagher & Co, Crawford & Company A, and Pro-Assurance Corp.
Currently, the analyst consensus on Amerisafe is a Moderate Buy with an average price target of $66.67.
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Based on Amerisafe’s latest earnings release for the quarter ending June 30, the company reported a quarterly net profit of $16.96 million. In comparison, last year the company had a net profit of $15.48 million.
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AMERISAFE, Inc. is a holding company, which engages the provision of workers’ compensation insurance focused on small to mid-sized employers. It focuses on the businesses in construction, trucking, logging and lumber, manufacturing and agriculture. The company was founded by Millard E. Morris in 1985 and is headquartered in DeRidder, LA.
