Zacks Investment Research upgraded shares of P.A.M. Transportation Services (NASDAQ:PTSI) from a hold rating to a strong-buy rating in a report published on Thursday, January 4th. Zacks Investment Research currently has $40.00 price target on the transportation company’s stock.
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. “
A number of other research firms have also recently issued reports on PTSI. ValuEngine cut shares of P.A.M. Transportation Services from a buy rating to a hold rating in a research note on Tuesday, December 5th. Stifel Nicolaus reiterated a hold rating on shares of P.A.M. Transportation Services in a research note on Sunday, October 1st.
P.A.M. Transportation Services (PTSI) traded down $1.20 during mid-day trading on Thursday, reaching $37.28. The company had a trading volume of 13,200 shares, compared to its average volume of 11,500. The firm has a market capitalization of $228.17, a P/E ratio of 29.59 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 has a fifty-two week low of $14.50 and a fifty-two week high of $43.20.
P.A.M. Transportation Services (NASDAQ:PTSI) last announced its quarterly earnings results on Monday, October 23rd. The transportation company reported $0.54 EPS for the quarter, topping analysts’ consensus estimates 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 during the quarter, compared to analysts’ expectations of $108.20 million. research analysts predict that P.A.M. Transportation Services will post 0.92 EPS for the current fiscal year.
P.A.M. Transportation Services declared that its Board of Directors has initiated a stock repurchase plan on Tuesday, October 10th that permits the company to repurchase 400,000 shares. This repurchase authorization permits the transportation company to buy shares of its stock through a dutch auction. Shares repurchase plans are often a sign that the company’s leadership believes its shares are undervalued.
Hedge funds have recently made changes to their positions in the company. Dimensional Fund Advisors LP boosted its stake in 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 purchasing an additional 15,014 shares during the period. Goldman Sachs Group Inc. acquired a new position in P.A.M. Transportation Services in the 2nd quarter worth $482,000. Finally, JPMorgan Chase & Co. boosted its stake in 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 purchasing an additional 4,877 shares during the period. 23.99% of the stock is owned by institutional investors.
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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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