Quality Distribution Downgraded to Underperform at Zacks (QLTY)
Quality Distribution (NASDAQ:QLTY) was downgraded by Zacks from a “neutral” rating to an “underperform” rating in a note issued to investors on Monday, American Banking News.com reports. They currently have a $13.40 target price on the stock. Zacks‘ target price points to a potential downside of 8.34% from the stock’s previous close.
In other Quality Distribution news, CEO Gary Enzor sold 125,000 shares of the stock in a transaction dated Thursday, January 2nd. The shares were sold at an average price of $13.46, for a total value of $1,682,500.00. Following the transaction, the chief executive officer now directly owns 124,987 shares in the company, valued at approximately $1,682,325. The sale was disclosed in a document filed with the SEC, which can be accessed through this link.
Quality Distribution (NASDAQ:QLTY) traded down 1.03% on Monday, hitting $14.47. 481,031 shares of the company’s stock traded hands. Quality Distribution has a one year low of $6.25 and a one year high of $14.85. The stock has a 50-day moving average of $12.57 and a 200-day moving average of $10.46. The company’s market cap is $382.9 million.
Quality Distribution (NASDAQ:QLTY) last released its earnings data on Tuesday, November 5th. The company reported $0.20 earnings per share for the quarter, missing the analysts’ consensus estimate of $0.22 by $0.02. The company had revenue of $235.70 million for the quarter, compared to the consensus estimate of $244.18 million. During the same quarter last year, the company posted $0.17 earnings per share. Quality Distribution’s revenue was up 6.1% compared to the same quarter last year. On average, analysts predict that Quality Distribution will post $0.70 earnings per share for the current fiscal year.
A number of other analysts have also recently weighed in on QLTY. Analysts at Bank of America Corp. reiterated a “buy” rating on shares of Quality Distribution in a research note to investors on Friday, December 20th. They now have a $16.00 price target on the stock, up previously from $13.00. Separately, analysts at Stifel Nicolaus downgraded shares of Quality Distribution from a “buy” rating to a “hold” rating in a research note to investors on Thursday, December 5th. They now have a $13.00 price target on the stock. They noted that the move was a valuation call. Finally, analysts at Credit Suisse raised their price target on shares of Quality Distribution from $10.00 to $11.00 in a research note to investors on Thursday, November 7th. They now have a “neutral” rating on the stock. One research analyst has rated the stock with a sell rating, two have given a hold rating and four have issued a buy rating to the company. The stock currently has a consensus rating of “Hold” and a consensus price target of $12.49.
Quality Distribution, Inc operates a chemical bulk tank truck network in North America through its wholly owned subsidiary, Quality Carriers, Inc (NASDAQ:QLTY) is a provider of International Organization for Standardization (intermodal ISO) tank container and depot services in North America through its wholly owned subsidiary, Boasso America Corporation (Boasso), which also includes Greensville Transport Company (Greensville).
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