Zacks Investment Research upgraded shares of USA Truck (NASDAQ:USAK) from a hold rating to a buy rating in a report published on Thursday, November 9th. The brokerage currently has $17.00 price target on the transportation company’s stock.
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. “
Several other brokerages also recently weighed in on USAK. Stifel Nicolaus upgraded USA Truck from a hold rating to a buy rating and raised their target price for the company from $9.00 to $15.00 in a research note on Friday, September 29th. Cowen reiterated a buy rating and issued a $10.00 price target on shares of USA Truck in a research note on Friday, September 8th. Finally, ValuEngine upgraded USA Truck from a sell rating to a hold rating in a research note on Sunday, September 3rd. Three investment analysts have rated the stock with a hold rating and two have given a buy rating to the company. The stock has a consensus rating of Hold and an average price target of $12.31.
USA Truck (NASDAQ:USAK) last issued its earnings results on Thursday, November 2nd. The transportation company reported $0.05 earnings per share for the quarter, topping 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%. The business’s quarterly revenue was up 8.2% on a year-over-year basis. During the same period last year, the company posted ($0.09) EPS. analysts expect that USA Truck will post -0.47 earnings per share for the current fiscal year.
Several institutional investors and hedge funds have recently added to or reduced their stakes in the company. California Public Employees Retirement System raised its holdings in shares of USA Truck by 32.1% during the third quarter. California Public Employees Retirement System now owns 88,816 shares of the transportation company’s stock valued at $1,248,000 after buying an additional 21,573 shares during the last quarter. Citadel Advisors LLC bought a new stake in USA Truck during the third quarter worth approximately $203,000. JPMorgan Chase & Co. bought a new stake in USA Truck during the third quarter worth approximately $306,000. Macquarie Group Ltd. bought a new stake in USA Truck during the third quarter worth approximately $259,000. Finally, Russell Investments Group Ltd. raised its holdings in USA Truck by 98.8% during the third quarter. Russell Investments Group Ltd. now owns 386,528 shares of the transportation company’s stock worth $5,430,000 after purchasing an additional 192,128 shares in the last quarter. 64.28% of the stock is currently owned by 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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