USA Truck (NASDAQ:USAK) 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 presently has a $21.00 price objective on the transportation company’s stock. Zacks Investment Research‘s target price would suggest a potential upside of 13.88% from the stock’s current price.
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 analysts also recently weighed in on the stock. Cowen restated a “buy” rating and set a $10.00 price objective on shares of USA Truck in a research report on Friday, September 8th. Stifel Nicolaus raised shares of USA Truck from a “hold” rating to a “buy” rating and lifted their target price for the company from $9.00 to $15.00 in a report on Friday, September 29th. Finally, ValuEngine raised shares of USA Truck from a “sell” rating to a “hold” rating in a report on Sunday, September 3rd. Two research analysts have rated the stock with a hold rating and three have assigned a buy rating to the company’s stock. The company has a consensus rating of “Buy” and an average price target of $13.31.
USA Truck (NASDAQ:USAK) last issued its quarterly earnings data 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 during the quarter, compared to the consensus estimate of $108.05 million. USA Truck had a negative net margin of 2.61% and a negative return on equity of 19.57%. The company’s revenue was up 8.2% compared to the same quarter last year. During the same quarter in the previous year, the firm earned ($0.09) EPS. research analysts expect that USA Truck will post -0.47 earnings per share for the current fiscal year.
Several institutional investors have recently made changes to their positions in the company. California Public Employees Retirement System increased its stake in USA Truck by 32.1% in the 3rd 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 period. Citadel Advisors LLC acquired a new position in USA Truck in the 3rd quarter valued at $203,000. JPMorgan Chase & Co. acquired a new position in USA Truck in the 3rd quarter valued at $306,000. Macquarie Group Ltd. acquired a new position in USA Truck in the 3rd quarter valued at $259,000. Finally, Russell Investments Group Ltd. boosted its position in shares of USA Truck by 98.8% during the 3rd 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 and hedge funds.
USA Truck Company Profile
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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