Zacks Investment Research Downgrades YRC Worldwide, Inc. (YRCW) to Hold
YRC Worldwide, Inc. (NASDAQ:YRCW) was downgraded by Zacks Investment Research from a “strong-buy” rating to a “hold” rating in a note issued to investors on Wednesday.
According to Zacks, “YRC Worldwide Inc., headquartered in Overland Park, Kan., is the holding company for a portfolio of less-than-truckload (LTL) companies including YRC Freight, YRC Reimer, Holland, Reddaway, and New Penn. Collectively, YRC Worldwide companies have one of the largest, most comprehensive LTL networks in North America with local, regional, national and international capabilities. “
A number of other equities analysts also recently commented on YRCW. BidaskClub downgraded shares of YRC Worldwide from a “buy” rating to a “hold” rating in a report on Saturday, August 5th. Stifel Nicolaus reaffirmed a “buy” rating and issued a $18.00 price objective (up previously from $16.00) on shares of YRC Worldwide in a report on Friday, August 4th. One investment analyst has rated the stock with a sell rating, three have assigned a hold rating and three have given a buy rating to the company. The stock presently has an average rating of “Hold” and an average price target of $15.75.
Shares of YRC Worldwide (NASDAQ:YRCW) traded down 3.43% during midday trading on Wednesday, hitting $12.95. 144,753 shares of the stock were exchanged. The firm’s 50-day moving average is $12.66 and its 200-day moving average is $11.18. YRC Worldwide has a 12 month low of $7.36 and a 12 month high of $16.97. The stock has a market cap of $434.24 million, a price-to-earnings ratio of 4316.67 and a beta of 3.77.
YRC Worldwide (NASDAQ:YRCW) last released its quarterly earnings results on Thursday, August 3rd. The transportation company reported $0.57 earnings per share for the quarter, topping analysts’ consensus estimates of $0.48 by $0.09. The company had revenue of $1.26 billion for the quarter, compared to analyst estimates of $1.25 billion. During the same period in the previous year, the business posted $0.83 EPS. The firm’s quarterly revenue was up 4.4% compared to the same quarter last year. Equities research analysts predict that YRC Worldwide will post $0.82 earnings per share for the current year.
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A number of institutional investors have recently added to or reduced their stakes in the business. The Manufacturers Life Insurance Company boosted its holdings in YRC Worldwide by 6.6% in the second quarter. The Manufacturers Life Insurance Company now owns 27,120 shares of the transportation company’s stock worth $302,000 after purchasing an additional 1,681 shares during the period. Arrowstreet Capital Limited Partnership acquired a new position in YRC Worldwide in the second quarter worth $673,000. Voya Investment Management LLC boosted its holdings in YRC Worldwide by 18.7% in the second quarter. Voya Investment Management LLC now owns 17,288 shares of the transportation company’s stock worth $192,000 after purchasing an additional 2,720 shares during the period. Dimensional Fund Advisors LP boosted its holdings in YRC Worldwide by 0.3% in the second quarter. Dimensional Fund Advisors LP now owns 1,583,122 shares of the transportation company’s stock worth $17,604,000 after purchasing an additional 4,265 shares during the period. Finally, Parametric Portfolio Associates LLC boosted its holdings in YRC Worldwide by 92.9% in the second quarter. Parametric Portfolio Associates LLC now owns 169,472 shares of the transportation company’s stock worth $1,885,000 after purchasing an additional 81,600 shares during the period. 83.33% of the stock is owned by hedge funds and other institutional investors.
YRC Worldwide Company Profile
YRC Worldwide Inc is a holding company. The Company, through its subsidiaries, offers its customers a range of transportation services. The Company operates through two segments: YRC Freight and Regional Transportation. The Company has less-than-truckload (LTL) networks in North America with local, regional, national and international capabilities.
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