Zacks Investment Research downgraded shares of YRC Worldwide (NASDAQ:YRCW) from a hold rating to a sell rating in a report issued on Saturday morning, Zacks.com reports.
According to Zacks, “YRC Worldwide Inc., headquartered in Overland Park, Kan., is the holding company for a portfolio of less-than-truckload (LTL) companies including YRC Freight, YRC Reimer, Holland, Reddaway, and New Penn. Collectively, YRC Worldwide companies have one of the largest, most comprehensive LTL networks in North America with local, regional, national and international capabilities. “
Separately, Stephens restated a hold rating and issued a $2.00 price objective on shares of YRC Worldwide in a research note on Thursday, April 9th.
Shares of YRC Worldwide stock opened at $1.85 on Friday. YRC Worldwide has a fifty-two week low of $1.29 and a fifty-two week high of $4.79. The firm has a fifty day moving average price of $1.67 and a two-hundred day moving average price of $1.98. The company has a market cap of $65.39 million, a PE ratio of -1.21 and a beta of 3.01.
YRC Worldwide (NASDAQ:YRCW) last issued its quarterly earnings results on Monday, May 11th. The transportation company reported $0.12 earnings per share for the quarter, beating analysts’ consensus estimates of ($0.80) by $0.92. The company had revenue of $1.15 billion during the quarter, compared to the consensus estimate of $1.13 billion. During the same period last year, the company earned ($1.48) earnings per share. As a group, analysts forecast that YRC Worldwide will post -3.1 earnings per share for the current year.
Several hedge funds have recently made changes to their positions in YRCW. Metropolitan Life Insurance Co NY acquired a new position in shares of YRC Worldwide in the 1st quarter valued at $77,000. Charles Schwab Investment Management Inc. increased its position in shares of YRC Worldwide by 14.1% during the 4th quarter. Charles Schwab Investment Management Inc. now owns 955,656 shares of the transportation company’s stock worth $2,437,000 after purchasing an additional 117,852 shares in the last quarter. Spark Investment Management LLC acquired a new stake in shares of YRC Worldwide during the 4th quarter worth about $78,000. Williams Jones Wealth Management LLC. acquired a new stake in shares of YRC Worldwide during the 4th quarter worth about $73,000. Finally, Bank of New York Mellon Corp increased its position in shares of YRC Worldwide by 5.3% during the 4th quarter. Bank of New York Mellon Corp now owns 275,731 shares of the transportation company’s stock worth $703,000 after purchasing an additional 13,906 shares in the last quarter. Institutional investors own 56.74% of the company’s stock.
About YRC Worldwide
YRC Worldwide Inc, through its subsidiaries, provides a range of transportation services primarily in North America. The company operates in two segments, YRC Freight and Regional Transportation. The YRC Freight segment offers various services to transport industrial, commercial, and retail goods; and provides specialized services, including guaranteed expedited services, time-specific deliveries, cross-border services, coast-to-coast air delivery, product returns, temperature-sensitive shipment protection, and government material shipments.
Further Reading: The Discount Rate – What You Need to Know
Get a free copy of the Zacks research report on YRC Worldwide (YRCW)
For more information about research offerings from Zacks Investment Research, visit Zacks.com
Receive News & Ratings for YRC Worldwide Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for YRC Worldwide and related companies with MarketBeat.com's FREE daily email newsletter.