P.A.M. Transportation Services (PTSI) Cut to “Hold” at Zacks Investment Research

Zacks Investment Research cut shares of P.A.M. Transportation Services (NASDAQ:PTSI) from a strong-buy rating to a hold rating in a research report released on Saturday morning.

According to Zacks, “P.A.M. Transportation Services, Inc. is an irregular route, common and contract motor carrier authorized to transport general commodities. The freight consists primarily of automotive parts, consumer goods, such as general retail store merchandise, and products from the manufacturing sector, such as heating and air conditioning units. All freight is transported as truckload quantities. “

Several other brokerages have also weighed in on PTSI. ValuEngine lowered shares of P.A.M. Transportation Services from a buy rating to a hold rating in a report on Tuesday, December 5th. Stifel Nicolaus upped their price objective on shares of P.A.M. Transportation Services from $24.00 to $30.00 and gave the company a hold rating in a report on Monday, November 6th.

P.A.M. Transportation Services (PTSI) opened at $38.48 on Friday. P.A.M. Transportation Services has a fifty-two week low of $14.50 and a fifty-two week high of $43.20. The firm has a market cap of $228.17, a PE ratio of 30.54 and a beta of 1.15. The company has a current ratio of 0.96, a quick ratio of 0.95 and a debt-to-equity ratio of 0.90.

P.A.M. Transportation Services (NASDAQ:PTSI) last announced its quarterly earnings data on Monday, October 23rd. The transportation company reported $0.54 earnings per share for the quarter, beating the consensus estimate of $0.26 by $0.28. P.A.M. Transportation Services had a net margin of 1.85% and a return on equity of 8.38%. The firm had revenue of $108.90 million for the quarter, compared to analyst estimates of $108.20 million. sell-side analysts forecast that P.A.M. Transportation Services will post 0.92 EPS for the current fiscal year.

P.A.M. Transportation Services announced that its board has authorized a share buyback program on Tuesday, October 10th that allows the company to repurchase 400,000 outstanding shares. This repurchase authorization allows the transportation company to buy shares of its stock through a dutch auction. Stock repurchase programs are generally a sign that the company’s board of directors believes its stock is undervalued.

Institutional investors and hedge funds have recently bought and sold shares of the stock. JPMorgan Chase & Co. raised its holdings in shares of P.A.M. Transportation Services by 476.7% in the 3rd quarter. JPMorgan Chase & Co. now owns 5,900 shares of the transportation company’s stock worth $137,000 after acquiring an additional 4,877 shares during the last quarter. Goldman Sachs Group Inc. acquired a new stake in shares of P.A.M. Transportation Services in the 2nd quarter worth about $482,000. Finally, Dimensional Fund Advisors LP raised its holdings in shares of P.A.M. Transportation Services by 4.3% in the 2nd quarter. Dimensional Fund Advisors LP now owns 360,772 shares of the transportation company’s stock worth $6,837,000 after acquiring an additional 15,014 shares during the last quarter. Institutional investors own 23.99% of the company’s stock.

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About P.A.M. Transportation Services

P.A.M. Transportation Services, Inc is a holding company. The Company, through its subsidiaries, operates as a truckload transportation and logistics company. It operates in the motor carrier segment. It operates as a truckload dry van carrier transporting general commodities throughout the continental United States, as well as in certain Canadian provinces.

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