YRC Worldwide (YRCW) Downgraded by Zacks Investment Research
YRC Worldwide (NASDAQ:YRCW) was downgraded by Zacks Investment Research from a “hold” rating to a “sell” rating in a research report issued to clients and investors 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. “
A number of other equities analysts also recently issued reports on the company. BidaskClub upgraded YRC Worldwide from a “buy” rating to a “strong-buy” rating in a report on Saturday. Stephens reiterated a “buy” rating and issued a $19.00 price objective on shares of YRC Worldwide in a report on Tuesday, January 2nd. ValuEngine downgraded YRC Worldwide from a “hold” rating to a “sell” rating in a report on Friday, December 1st. Stifel Nicolaus reiterated a “buy” rating and issued a $18.00 price objective (down previously from $19.00) on shares of YRC Worldwide in a report on Thursday, October 19th. Finally, Aegis reiterated a “buy” rating and issued 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, one has given a hold rating, three have issued a buy rating and one has issued a strong buy rating to the company. The company has a consensus rating of “Hold” and an average target price of $16.60.
In other news, CEO James L. Welch sold 100,000 shares of the firm’s stock in a transaction on Monday, November 13th. The stock was sold at an average price of $12.24, for a total transaction of $1,224,000.00. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, insider Justin M. Hall purchased 5,000 shares of YRC Worldwide stock in a transaction dated Thursday, November 16th. The shares were bought at an average price of $11.09 per share, with a total value of $55,450.00. The disclosure for this purchase can be found here. 3.70% of the stock is currently owned by corporate insiders.
Several large investors have recently modified their holdings of YRCW. Schwab Charles Investment Management Inc. increased its holdings in shares of YRC Worldwide by 27.3% during the second quarter. Schwab Charles Investment Management Inc. now owns 228,829 shares of the transportation company’s stock valued at $2,545,000 after acquiring an additional 49,092 shares in the last quarter. Rhumbline Advisers increased its holdings in shares of YRC Worldwide by 2.2% during the second quarter. Rhumbline Advisers now owns 39,456 shares of the transportation company’s stock valued at $439,000 after acquiring an additional 850 shares in the last quarter. Bank of New York Mellon Corp increased its holdings in shares of YRC Worldwide by 1.6% during the second quarter. Bank of New York Mellon Corp now owns 204,280 shares of the transportation company’s stock valued at $2,272,000 after acquiring an additional 3,222 shares in the last quarter. Marshall Wace North America L.P. bought a new position in shares of YRC Worldwide during the second quarter valued at $168,000. Finally, Engineers Gate Manager LP bought a new position in shares of YRC Worldwide during the second quarter valued at $301,000. Hedge funds and other institutional investors own 85.39% of the company’s stock.
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YRC Worldwide Company Profile
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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