USA Truck (NASDAQ:USAK) was downgraded by Zacks Investment Research from a “buy” rating to a “hold” rating in a research note issued to investors on Saturday.
According to Zacks, “USA Truck, Inc. is engaged in the transportation of general commodity freight in interstate and foreign commerce. They hold authority to transport and does transport freight between all points in the continental United States, other than intrastate, and between all points in the U.S., and the Canadian provinces of Ontario and Quebec. “
Other analysts have also issued reports about the company. Stifel Nicolaus raised USA Truck from a “hold” rating to a “buy” rating and raised their price objective for the company from $9.00 to $15.00 in a research note on Friday, September 29th. Cowen reaffirmed a “buy” rating and issued a $10.00 price objective on shares of USA Truck in a research note on Friday, September 8th. Three investment analysts have rated the stock with a hold rating and two have issued a buy rating to the company. USA Truck presently has a consensus rating of “Hold” and an average price target of $13.31.
USA Truck (NASDAQ:USAK) last released its quarterly earnings data on Thursday, November 2nd. The transportation company reported $0.05 earnings per share for the quarter, beating the consensus estimate of ($0.05) by $0.10. The business had revenue of $114.20 million for the quarter, compared to analyst estimates of $108.05 million. USA Truck had a negative return on equity of 19.57% and a negative net margin of 2.61%. USA Truck’s revenue was up 8.2% compared to the same quarter last year. During the same period last year, the firm posted ($0.09) earnings per share. sell-side analysts anticipate that USA Truck will post -0.45 EPS for the current fiscal year.
Several hedge funds have recently made changes to their positions in USAK. Citigroup Inc. boosted its stake in shares of USA Truck by 44.0% during the second quarter. Citigroup Inc. now owns 14,635 shares of the transportation company’s stock valued at $127,000 after purchasing an additional 4,470 shares in the last quarter. Vanguard Group Inc. boosted its stake in shares of USA Truck by 16.4% during the second quarter. Vanguard Group Inc. now owns 261,677 shares of the transportation company’s stock valued at $2,266,000 after purchasing an additional 36,911 shares in the last quarter. California Public Employees Retirement System boosted its stake in shares of USA Truck by 37.1% during the second quarter. California Public Employees Retirement System now owns 67,243 shares of the transportation company’s stock valued at $582,000 after purchasing an additional 18,200 shares in the last quarter. Goldman Sachs Group Inc. boosted its stake in shares of USA Truck by 67.5% during the second quarter. Goldman Sachs Group Inc. now owns 51,915 shares of the transportation company’s stock valued at $450,000 after purchasing an additional 20,915 shares in the last quarter. Finally, Intrinsic Edge Capital Management LLC boosted its stake in shares of USA Truck by 5.2% during the second quarter. Intrinsic Edge Capital Management LLC now owns 253,150 shares of the transportation company’s stock valued at $2,192,000 after purchasing an additional 12,576 shares in the last quarter. 64.28% of the stock is currently owned by hedge funds and other institutional investors.
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About USA Truck
USA Truck, Inc is a truckload carrier providing transportation of general commodities throughout the continental United States and into and out of portions of Mexico and Canada. The Company operates through two segments: Trucking and Strategic Capacity Solutions (SCS). The Trucking segment consists of truckload and dedicated freight services.
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