YRC Worldwide, Inc. (YRCW) Upgraded to “Buy” at Zacks Investment Research
YRC Worldwide, Inc. (NASDAQ:YRCW) was upgraded by Zacks Investment Research from a “hold” rating to a “buy” rating in a research note issued to investors on Wednesday. The brokerage currently has a $15.00 price objective on the transportation company’s stock. Zacks Investment Research‘s price target would suggest a potential upside of 14.33% from the stock’s previous close.
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. “
Several other brokerages have also commented on YRCW. Stifel Nicolaus restated a “buy” rating and set a $18.00 target price (up previously from $16.00) on shares of YRC Worldwide in a research report on Friday, August 4th. BidaskClub lowered YRC Worldwide from a “buy” rating to a “hold” rating in a research report on Saturday, August 5th. Finally, Aegis restated a “buy” rating and set a $20.00 target price on shares of YRC Worldwide in a research report on Saturday, September 16th. One analyst has rated the stock with a sell rating, two have issued a hold rating and four have issued a buy rating to the company. The company presently has an average rating of “Hold” and an average price target of $16.00.
YRC Worldwide (NASDAQ:YRCW) opened at 13.12 on Wednesday. YRC Worldwide has a 12-month low of $7.36 and a 12-month high of $16.97. The company has a market cap of $439.94 million, a PE ratio of 4373.33 and a beta of 3.73. The stock’s 50 day moving average price is $13.21 and its 200 day moving average price is $11.54.
YRC Worldwide (NASDAQ:YRCW) last announced its earnings results on Thursday, August 3rd. The transportation company reported $0.57 EPS for the quarter, beating the consensus estimate of $0.48 by $0.09. The business had revenue of $1.26 billion for the quarter, compared to the consensus estimate of $1.25 billion. During the same quarter in the previous year, the company earned $0.83 EPS. The firm’s revenue for the quarter was up 4.4% on a year-over-year basis. Equities research analysts anticipate that YRC Worldwide will post $0.27 EPS for the current year.
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A number of large investors have recently made changes to their positions in the business. Northpointe Capital LLC boosted its holdings in YRC Worldwide by 6.5% in the third quarter. Northpointe Capital LLC now owns 1,263,554 shares of the transportation company’s stock worth $17,437,000 after acquiring an additional 77,521 shares in the last quarter. 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 acquiring an additional 1,681 shares in the last quarter. Arrowstreet Capital Limited Partnership bought a new position in YRC Worldwide in the second quarter worth approximately $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 acquiring an additional 2,720 shares in the last quarter. Finally, 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 acquiring an additional 4,265 shares in the last quarter. Institutional investors and hedge funds own 83.72% of the company’s stock.
About YRC Worldwide
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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