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Amerisafe, Inc. (AMSF)
by Zacks Equity ResearchJuly 10, 2012 | Comments : 0 Recommended this article: (0)
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Prudent capital management, expanded share repurchase plan and affirmation of a strong financial strength rating point to decent long-term growth. Employers engaged in hazardous industries pay substantially higher than average rates for workers compensation insurance due to the inherent workplace danger. Amerisafe has a history of profitable underwriting in these industries.
Our six-month target price of $33.00 per share equates to about 19.1x our earnings estimate for 2012. With no dividend supplement, this target price implies a total expected of 18.3% over that period, which is consistent with our Outperform recommendation.
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