USA Truck Inc. (USAK) Upgraded to Hold at Zacks Investment Research
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. “
Separately, Cowen and Company decreased their target price on USA Truck from $26.00 to $19.00 and set an outperform rating for the company in a report on Thursday, August 4th.
Shares of USA Truck (NASDAQ:USAK) traded down 1.88% during trading on Thursday, reaching $9.94. 28,608 shares of the company’s stock traded hands. USA Truck has a 1-year low of $9.92 and a 1-year high of $21.46. The stock has a market capitalization of $86.82 million, a PE ratio of 28.00 and a beta of 2.00. The company has a 50 day moving average price of $11.15 and a 200 day moving average price of $16.33.
USA Truck (NASDAQ:USAK) last issued its earnings results on Wednesday, August 3rd. The company reported ($0.10) earnings per share (EPS) for the quarter, missing the Zacks’ consensus estimate of $0.19 by $0.29. USA Truck had a return on equity of 10.25% and a net margin of 0.76%. The firm had revenue of $109.90 million for the quarter, compared to analysts’ expectations of $113.18 million. During the same quarter in the previous year, the firm posted $0.23 EPS. The firm’s revenue for the quarter was down 17.6% compared to the same quarter last year. On average, equities analysts forecast that USA Truck will post $0.43 EPS for the current fiscal year.
A number of institutional investors have recently added to or reduced their stakes in USAK. JPMorgan Chase & Co. raised its position in USA Truck by 33.1% in the second quarter. JPMorgan Chase & Co. now owns 753,930 shares of the company’s stock valued at $13,201,000 after buying an additional 187,451 shares during the period. Mckinley Capital Management LLC Delaware acquired a new position in shares of USA Truck during the second quarter worth about $1,043,000. Jacobs Levy Equity Management Inc. acquired a new position in shares of USA Truck during the first quarter worth about $629,000. Alliancebernstein L.P. raised its position in shares of USA Truck by 226.6% in the second quarter. Alliancebernstein L.P. now owns 35,010 shares of the company’s stock worth $613,000 after buying an additional 24,290 shares during the last quarter. Finally, Wedge Capital Management L L P NC raised its position in shares of USA Truck by 145.1% in the second quarter. Wedge Capital Management L L P NC now owns 39,700 shares of the company’s stock worth $695,000 after buying an additional 23,500 shares during the last quarter. 73.73% of the stock is currently owned by hedge funds and other institutional investors.
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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