Compass Point Downgrades AmTrust Financial (AFSI) to Neutral

Compass Point downgraded AmTrust Financial (NASDAQ: AFSI) from Buy to Neutral with a price target of $52.00.

Analyst Ken Billingsley comments, "Our lowered rating is based on the recent meteoric rise of AFSI shares in the past month. The company reports earning next week (November 4Th before the market opens) and we expect the company to report solid results stemming from recent acquisitions and improving premium levels and higher fee income offset by a rising combined ratio. While the current pricing environment for AFSI’s core Workers’ Comp line remains a bright spot within the P&C industry, we believe the pricing metrics surrounding the current share price belay the overall trends in the P&C space. AFSI currently trades at 4.8x its 2Q14 diluted TBVPS of $11.14 with an ROATE of 47.1%."

For an analyst ratings summary and ratings history on AmTrust Financial click here. For more ratings news on AmTrust Financial click here.

Shares of AmTrust Financial closed at $53.03 yesterday.

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