Atlas Financial Holdings, Inc. (AFH) Receives Average Recommendation of “Hold” from Analysts

Shares of Atlas Financial Holdings, Inc. (NASDAQ:AFH) have earned a consensus recommendation of “Hold” from the six research firms that are covering the firm, MarketBeat Ratings reports. One analyst has rated the stock with a sell rating, one has given a hold rating and three have assigned a buy rating to the company. The average 12-month price target among brokerages that have issued ratings on the stock in the last year is $18.50.

Several equities analysts have recently issued reports on the company. ValuEngine downgraded Atlas Financial Holdings from a “hold” rating to a “sell” rating in a research report on Friday. Boenning Scattergood assumed coverage on Atlas Financial Holdings in a research report on Tuesday. They issued an “outperform” rating and a $19.00 target price for the company. JMP Securities assumed coverage on Atlas Financial Holdings in a research report on Wednesday, May 24th. They issued an “outperform” rating and a $18.00 target price for the company. TheStreet downgraded Atlas Financial Holdings from a “b-” rating to a “c” rating in a research report on Monday, March 13th. Finally, Sandler O’Neill downgraded Atlas Financial Holdings from a “buy” rating to a “hold” rating in a research report on Friday, February 24th.

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Atlas Financial Holdings (AFH) traded up 1.29% during mid-day trading on Friday, reaching $15.65. The company’s stock had a trading volume of 50,155 shares. Atlas Financial Holdings has a 52 week low of $12.15 and a 52 week high of $18.40. The stock has a market capitalization of $188.27 million, a price-to-earnings ratio of 79.04 and a beta of 0.88. The firm has a 50-day moving average of $14.40 and a 200-day moving average of $15.19.

Atlas Financial Holdings (NASDAQ:AFH) last issued its quarterly earnings data on Monday, May 8th. The insurance provider reported $0.61 earnings per share (EPS) for the quarter, topping the Thomson Reuters’ consensus estimate of $0.32 by $0.29. The business had revenue of $49.82 million during the quarter. Atlas Financial Holdings had a negative return on equity of 4.19% and a net margin of 1.46%. On average, equities research analysts expect that Atlas Financial Holdings will post $1.60 earnings per share for the current year.

Several hedge funds and other institutional investors have recently bought and sold shares of AFH. WCM Investment Management CA boosted its position in Atlas Financial Holdings by 23.0% in the first quarter. WCM Investment Management CA now owns 445,378 shares of the insurance provider’s stock valued at $6,079,000 after buying an additional 83,175 shares in the last quarter. Buckhead Capital Management LLC boosted its position in 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 valued at $780,000 after buying an additional 30,400 shares in the last quarter. Diamond Hill Capital Management Inc. bought a new position in Atlas Financial Holdings during the first quarter valued at about $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 valued at $490,000 after buying an additional 710 shares in the last quarter. Finally, 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 valued at $216,000 after buying an additional 800 shares in the last quarter. 79.92% of the stock is currently 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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