Atlas Financial (NASDAQ:AFH) was upgraded by Zacks Investment Research from a “hold” rating to a “buy” rating in a report released on Monday. The firm presently has a $11.00 target price on the insurance provider’s stock. Zacks Investment Research‘s price target suggests a potential upside of 19.70% from the company’s previous close.
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. “
Other equities research analysts have also recently issued reports about the stock. ValuEngine cut shares of Atlas Financial from a “sell” rating to a “strong sell” rating in a report on Wednesday, January 2nd. Boenning Scattergood reaffirmed a “buy” rating on shares of Atlas Financial in a report on Tuesday, November 6th. One investment analyst has rated the stock with a sell rating, one has given a hold rating and two have issued a buy rating to the company’s stock. The stock has a consensus rating of “Hold” and an average target price of $10.50.
NASDAQ AFH traded down $0.21 during trading hours on Monday, hitting $9.19. The company had a trading volume of 1,146 shares, compared to its average volume of 20,635. The company has a debt-to-equity ratio of 0.24, a current ratio of 0.59 and a quick ratio of 0.59. Atlas Financial has a 1-year low of $7.84 and a 1-year high of $19.85. The company has a market capitalization of $112.21 million, a PE ratio of -2.54 and a beta of 0.99.
Large investors have recently made changes to their positions in the company. Tieton Capital Management LLC raised its holdings in Atlas Financial by 0.9% during the fourth quarter. Tieton Capital Management LLC now owns 764,720 shares of the insurance provider’s stock worth $6,187,000 after purchasing an additional 6,720 shares in the last quarter. Seacliff Capital LLC purchased a new position in Atlas Financial during the fourth quarter worth about $809,000. Pacific Ridge Capital Partners LLC raised its holdings in Atlas Financial by 32.1% during the third quarter. Pacific Ridge Capital Partners LLC now owns 247,791 shares of the insurance provider’s stock worth $2,490,000 after purchasing an additional 60,234 shares in the last quarter. Renaissance Technologies LLC raised its holdings in Atlas Financial by 8.9% during the third quarter. Renaissance Technologies LLC now owns 225,663 shares of the insurance provider’s stock worth $2,268,000 after purchasing an additional 18,451 shares in the last quarter. Finally, New Vernon Investment Management LLC purchased a new position in Atlas Financial during the third quarter worth about $1,155,000. 75.11% of the stock is owned by institutional investors and hedge funds.
About Atlas Financial
Atlas Financial Holdings, Inc, through its subsidiaries, engages in underwriting commercial automobile insurance policies in the United States. Its automobile insurance products provide insurance coverage in three primary areas, including liability, accident benefits, and physical damage. The company focuses on the light commercial automobile sector, including taxi cabs, non-emergency para-transit, limousine, livery, and business autos.
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