Zacks Investment Research Upgrades Student Transportation Inc (STB) to Buy
Student Transportation Inc (NASDAQ:STB) (TSE:STB) was upgraded by Zacks Investment Research from a “hold” rating to a “buy” rating in a report released on Friday. The firm presently has a $6.75 price objective on the transportation company’s stock. Zacks Investment Research‘s target price indicates a potential upside of 15.58% from the stock’s previous close.
According to Zacks, “Student Transportation Inc. provides school bus transportation services in the United States and Canada. Its services are delivered by drivers, dispatchers, maintenance technicians and terminal managers. Student Transportation Inc., formerly known as Student Transportation of America, Ltd., is based in Barrie, Canada. “
A number of other research firms also recently commented on STB. BidaskClub raised shares of Student Transportation from a “hold” rating to a “buy” rating in a research report on Friday, September 8th. National Bank Financial downgraded shares of Student Transportation from an “outperform” rating to a “sector perform” rating in a research report on Friday, June 2nd. Two investment analysts have rated the stock with a hold rating and four have issued a buy rating to the company. Student Transportation presently has a consensus rating of “Buy” and an average target price of $7.08.
Shares of Student Transportation (NASDAQ STB) opened at 5.84 on Friday. Student Transportation has a one year low of $5.39 and a one year high of $6.21. The stock has a market capitalization of $552.07 million, a price-to-earnings ratio of 75.84 and a beta of 0.75. The stock’s 50 day moving average is $5.92 and its 200-day moving average is $5.89.
Student Transportation declared that its Board of Directors has initiated a stock buyback program on Friday, May 19th that allows the company to buyback 9,230,000 outstanding shares. This buyback authorization allows the transportation company to repurchase shares of its stock through open market purchases. Shares buyback programs are generally a sign that the company’s board believes its stock is undervalued.
A number of institutional investors have recently modified their holdings of the business. UBS Group AG grew its position in Student Transportation by 2.7% during the 1st quarter. UBS Group AG now owns 51,403 shares of the transportation company’s stock worth $301,000 after purchasing an additional 1,355 shares during the last quarter. Credit Suisse AG grew its position in Student Transportation by 5.1% during the 1st quarter. Credit Suisse AG now owns 60,783 shares of the transportation company’s stock worth $356,000 after purchasing an additional 2,938 shares during the last quarter. Stifel Financial Corp grew its position in Student Transportation by 8.0% during the 2nd quarter. Stifel Financial Corp now owns 50,335 shares of the transportation company’s stock worth $302,000 after purchasing an additional 3,729 shares during the last quarter. Vanguard Group Inc. grew its position in Student Transportation by 20.1% during the 2nd quarter. Vanguard Group Inc. now owns 27,885 shares of the transportation company’s stock worth $186,000 after purchasing an additional 4,669 shares during the last quarter. Finally, UBS Asset Management Americas Inc. grew its position in Student Transportation by 12.7% during the 2nd quarter. UBS Asset Management Americas Inc. now owns 54,729 shares of the transportation company’s stock worth $331,000 after purchasing an additional 6,161 shares during the last quarter. 25.70% of the stock is currently owned by institutional investors.
Student Transportation Company Profile
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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