Student Transportation Inc (STB) Upgraded at BidaskClub
Student Transportation Inc (NASDAQ:STB) (TSE:STB) was upgraded by equities researchers at BidaskClub from a “hold” rating to a “buy” rating in a research report issued on Friday.
A number of other research firms have also weighed in on STB. Zacks Investment Research upgraded Student Transportation from a “sell” rating to a “hold” rating in a research report on Thursday, July 20th. National Bank Financial lowered Student Transportation from an “outperform” rating to a “sector perform” rating in a research report on Friday, June 2nd. Three equities research analysts have rated the stock with a hold rating and three have assigned a buy rating to the company’s stock. Student Transportation currently has an average rating of “Buy” and an average target price of $6.92.
Shares of Student Transportation (NASDAQ:STB) opened at 6.13 on Friday. Student Transportation has a 52-week low of $5.37 and a 52-week high of $6.21. The stock has a market capitalization of $579.48 million, a price-to-earnings ratio of 79.61 and a beta of 0.75. The company has a 50 day moving average of $5.92 and a 200 day moving average of $5.87.
Student Transportation declared that its board has authorized a share buyback plan on Friday, May 19th that authorizes the company to repurchase 9,230,000 shares. This repurchase authorization authorizes the transportation company to buy shares of its stock through open market purchases. Stock repurchase plans are often a sign that the company’s leadership believes its stock is undervalued.
Several large investors have recently added to or reduced their stakes in STB. Global X Management Co. LLC acquired a new position in shares of Student Transportation in the 1st quarter valued at $8,006,000. CIBC World Markets Inc. boosted its position in shares of Student Transportation by 21.7% in the 2nd quarter. CIBC World Markets Inc. now owns 2,739,930 shares of the transportation company’s stock valued at $16,618,000 after purchasing an additional 487,641 shares during the period. JPMorgan Chase & Co. acquired a new position in shares of Student Transportation in the 2nd quarter valued at $1,311,000. Renaissance Technologies LLC boosted its position in shares of Student Transportation by 10.1% in the 1st quarter. Renaissance Technologies LLC now owns 1,485,671 shares of the transportation company’s stock valued at $8,706,000 after purchasing an additional 136,427 shares during the period. Finally, Deroy & Devereaux Private Investment Counsel Inc. boosted its position in shares of Student Transportation by 101.2% in the 2nd quarter. Deroy & Devereaux Private Investment Counsel Inc. now owns 268,700 shares of the transportation company’s stock valued at $1,630,000 after purchasing an additional 135,183 shares during the period. Institutional investors and hedge funds own 25.70% of the company’s stock.
About Student Transportation
Student Transportation Inc is a Canada-based company engaged in providing school bus transportation services in North America. The Company provides school bus and management services to public and private schools in North America and offers services, such as contracted services, special needs transportation, charter services, direct to parent and used bus sales.
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