USA Truck’s (USAK) “Buy” Rating Reaffirmed at Cowen and Company
USA Truck, Inc. (NASDAQ:USAK)‘s stock had its “buy” rating restated by Cowen and Company in a report issued on Friday. They currently have a $10.00 price target on the transportation company’s stock. Cowen and Company’s price target suggests a potential downside of 13.57% from the company’s current price.
Several other research firms have also recently issued reports on USAK. ValuEngine raised shares of USA Truck from a “sell” rating to a “hold” rating in a research note on Sunday, September 3rd. Zacks Investment Research cut shares of USA Truck from a “hold” rating to a “sell” rating in a research note on Tuesday, August 8th. Two investment analysts have rated the stock with a sell rating, three have assigned a hold rating and one has given a buy rating to the company. USA Truck currently has a consensus rating of “Hold” and an average price target of $8.63.
Shares of USA Truck (USAK) traded down 0.60% during trading on Friday, reaching $11.57. 32,756 shares of the company’s stock were exchanged. The stock has a 50 day moving average price of $9.68 and a 200-day moving average price of $8.11. USA Truck has a 52 week low of $5.73 and a 52 week high of $11.89. The stock’s market capitalization is $92.87 million.
USA Truck (NASDAQ:USAK) last released its quarterly earnings results on Wednesday, August 2nd. The transportation company reported ($0.34) earnings per share (EPS) for the quarter, missing the Thomson Reuters’ consensus estimate of ($0.10) by $0.24. USA Truck had a negative return on equity of 20.68% and a negative net margin of 2.94%. The firm had revenue of $107.40 million for the quarter, compared to analyst estimates of $103.75 million. During the same period in the prior year, the business earned ($0.10) earnings per share. USA Truck’s revenue for the quarter was down 2.3% on a year-over-year basis. Analysts predict that USA Truck will post ($0.96) earnings per share for the current year.
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In related news, CFO Jason R. Bates acquired 8,500 shares of the business’s stock in a transaction dated Monday, August 14th. The shares were acquired at an average cost of $8.23 per share, for a total transaction of $69,955.00. Following the acquisition, the chief financial officer now directly owns 33,732 shares in the company, valued at approximately $277,614.36. The acquisition was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. Also, Director Gary Enzor acquired 7,500 shares of the business’s stock in a transaction dated Friday, August 11th. The shares were bought at an average price of $8.20 per share, for a total transaction of $61,500.00. The disclosure for this purchase can be found here. Over the last quarter, insiders have bought 17,050 shares of company stock worth $139,967. Insiders own 3.50% of the company’s stock.
Hedge funds have recently made changes to their positions in the company. Boston Partners purchased a new position in shares of USA Truck during the 1st quarter worth about $1,536,000. Essex Investment Management Co. LLC lifted its holdings in shares of USA Truck by 37.6% during the 2nd quarter. Essex Investment Management Co. LLC now owns 149,901 shares of the transportation company’s stock worth $1,298,000 after acquiring an additional 40,930 shares during the period. Grace & White Inc. NY lifted its holdings in shares of USA Truck by 7.7% during the 2nd quarter. Grace & White Inc. NY now owns 359,450 shares of the transportation company’s stock worth $3,113,000 after acquiring an additional 25,635 shares during the period. Callahan Advisors LLC purchased a new position in shares of USA Truck during the 2nd quarter worth about $132,000. Finally, Horrell Capital Management Inc. lifted its holdings in shares of USA Truck by 2.5% during the 2nd quarter. Horrell Capital Management Inc. now owns 27,941 shares of the transportation company’s stock worth $242,000 after acquiring an additional 681 shares during the period. Institutional investors and hedge funds own 53.39% of the company’s stock.
About USA Truck
USA Truck, Inc is a truckload carrier providing transportation of general commodities throughout the continental United States and into and out of portions of Mexico and Canada. The Company operates through two segments: Trucking and Strategic Capacity Solutions (SCS). The Trucking segment consists of truckload and dedicated freight services.
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