USA Truck, Inc. (NASDAQ:USAK)‘s stock had its “buy” rating reaffirmed by equities research analysts at Cowen and Company in a research report issued on Friday, September 8th. They currently have a $10.00 target price on the transportation company’s stock. Cowen and Company’s target price would indicate a potential downside of 19.94% from the company’s current price.
A number of other equities analysts have also recently issued reports on the stock. ValuEngine raised shares of USA Truck from a “sell” rating to a “hold” rating in a report on Sunday, September 3rd. Zacks Investment Research cut shares of USA Truck from a “hold” rating to a “sell” rating in a report on Tuesday, August 8th. Two investment analysts have rated the stock with a sell rating, three have given a hold rating and one has issued a buy rating to the stock. USA Truck presently has an average rating of “Hold” and a consensus price target of $8.63.
USA Truck (NASDAQ:USAK) last issued its earnings results on Wednesday, August 2nd. The transportation company reported ($0.34) earnings per share (EPS) for the quarter, missing the Zacks’ consensus estimate of ($0.10) by ($0.24). USA Truck had a negative return on equity of 20.68% and a negative net margin of 2.94%. The business had revenue of $107.40 million during the quarter, compared to the consensus estimate of $103.75 million. During the same period in the prior year, the business earned ($0.10) EPS. The business’s revenue was down 2.3% on a year-over-year basis.
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In other USA Truck news, CFO Jason R. Bates purchased 8,500 shares of the business’s stock in a transaction dated Monday, August 14th. The shares were bought at an average price of $8.23 per share, with a total value of $69,955.00. Following the completion of the acquisition, the chief financial officer now owns 33,732 shares in the company, valued at approximately $277,614.36. The acquisition was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Also, Director Gary Enzor purchased 7,500 shares of the business’s stock in a transaction dated Friday, August 11th. The shares were acquired at an average cost of $8.20 per share, for a total transaction of $61,500.00. The disclosure for this purchase can be found here. In the last ninety days, insiders have bought 17,050 shares of company stock worth $139,967. Corporate insiders own 3.50% of the company’s stock.
A number of large investors have recently made changes to their positions in USAK. Russell Investments Group Ltd. raised its holdings in USA Truck by 406.1% during the first quarter. Russell Investments Group Ltd. now owns 104,262 shares of the transportation company’s stock worth $767,000 after purchasing an additional 83,662 shares in the last quarter. Boston Partners bought a new stake in USA Truck during the first quarter worth approximately $1,536,000. California Public Employees Retirement System raised its holdings in USA Truck by 35.7% during the first quarter. California Public Employees Retirement System now owns 49,043 shares of the transportation company’s stock worth $360,000 after purchasing an additional 12,900 shares in the last quarter. Bank of America Corp DE raised its holdings in USA Truck by 436.0% during the first quarter. Bank of America Corp DE now owns 32,540 shares of the transportation company’s stock worth $240,000 after purchasing an additional 26,469 shares in the last quarter. Finally, Horrell Capital Management Inc. raised its holdings in USA Truck by 2.5% during the second quarter. Horrell Capital Management Inc. now owns 27,941 shares of the transportation company’s stock worth $242,000 after purchasing an additional 681 shares in the last quarter. 52.86% 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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