P.A.M. Transportation Services (PTSI) Initiates Stock Repurchase Plan
P.A.M. Transportation Services (NASDAQ:PTSI) announced that its board has authorized a share buyback program, which permits the company to repurchase 400,000 outstanding shares on Tuesday, October 10th, EventVestor reports. This repurchase authorization permits the transportation company to buy shares of its stock through a dutch auction. Shares repurchase programs are generally an indication that the company’s leadership believes its shares are undervalued.
A number of analysts recently weighed in on the stock. Zacks Investment Research raised shares of P.A.M. Transportation Services from a “strong sell” rating to a “hold” rating and set a $27.00 price objective on the stock in a report on Tuesday, October 3rd. Stifel Nicolaus reaffirmed a “hold” rating on shares of P.A.M. Transportation Services in a report on Sunday, October 1st. Finally, ValuEngine cut shares of P.A.M. Transportation Services from a “buy” rating to a “hold” rating in a report on Tuesday, August 1st.
P.A.M. Transportation Services (NASDAQ:PTSI) traded down 1.35% during mid-day trading on Wednesday, hitting $27.68. 15,960 shares of the company were exchanged. P.A.M. Transportation Services has a 12-month low of $14.50 and a 12-month high of $28.63. The company has a market cap of $175.57 million, a price-to-earnings ratio of 21.62 and a beta of 1.02. The stock’s 50 day moving average is $21.24 and its 200-day moving average is $18.44.
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P.A.M. Transportation Services Company Profile
P.A.M. Transportation Services, Inc is a holding company. The Company, through its subsidiaries, operates as a truckload transportation and logistics company. It operates in the motor carrier segment. It operates as a truckload dry van carrier transporting general commodities throughout the continental United States, as well as in certain Canadian provinces.
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