Zacks Investment Research Lowers YRC Worldwide, Inc. (YRCW) to Hold
YRC Worldwide, Inc. (NASDAQ:YRCW) was downgraded by Zacks Investment Research from a “buy” rating to a “hold” rating in a research note issued on Saturday.
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 equities analysts have also issued reports on YRCW. ValuEngine lowered shares of YRC Worldwide from a “hold” rating to a “sell” rating in a report on Thursday. Stifel Nicolaus reissued a “buy” rating and set a $18.00 price objective (up from $16.00) on shares of YRC Worldwide in a report on Friday, August 4th. BidaskClub lowered shares of YRC Worldwide from a “buy” rating to a “hold” rating in a report on Saturday, August 5th. Finally, Aegis reissued a “buy” rating and set a $20.00 price objective on shares of YRC Worldwide in a report on Saturday, September 16th. Two investment analysts have rated the stock with a sell rating, three have assigned a hold rating and three have issued a buy rating to the company’s stock. The company currently has an average rating of “Hold” and an average price target of $16.00.
Shares of YRC Worldwide (YRCW) traded up 1.04% during mid-day trading on Friday, hitting $13.64. The stock had a trading volume of 605,308 shares. The company’s 50 day moving average is $13.20 and its 200-day moving average is $11.55. The stock has a market cap of $457.38 million, a P/E ratio of 4546.67 and a beta of 3.73. YRC Worldwide has a 52-week low of $7.36 and a 52-week high of $16.97.
YRC Worldwide (NASDAQ:YRCW) last issued its quarterly earnings data on Thursday, August 3rd. The transportation company reported $0.57 earnings per share (EPS) for the quarter, beating the Thomson Reuters’ consensus estimate of $0.48 by $0.09. The business had revenue of $1.26 billion for the quarter, compared to analysts’ expectations of $1.25 billion. The business’s quarterly revenue was up 4.4% compared to the same quarter last year. During the same period in the previous year, the business earned $0.83 earnings per share. On average, equities research analysts anticipate that YRC Worldwide will post $0.27 earnings per share for the current fiscal year.
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A number of institutional investors and hedge funds have recently made changes to their positions in YRCW. First Quadrant L P CA acquired a new stake in YRC Worldwide in the third quarter valued at approximately $132,000. Marshall Wace North America L.P. acquired a new stake in YRC Worldwide in the second quarter valued at approximately $168,000. Prudential Financial Inc. acquired a new stake in YRC Worldwide in the first quarter valued at approximately $177,000. Voya Investment Management LLC boosted its stake 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 valued at $192,000 after acquiring an additional 2,720 shares in the last quarter. Finally, Aperio Group LLC acquired a new stake in YRC Worldwide in the second quarter valued at approximately $193,000. Institutional investors 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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