JPMorgan Chase & Co. cut shares of US Xpress Enterprises (NYSE:USX) from an overweight rating to a neutral rating in a research report released on Thursday morning, BenzingaRatingsTable reports. JPMorgan Chase & Co. currently has $7.00 target price on the stock.
A number of other research analysts have also weighed in on USX. Stifel Nicolaus lowered shares of US Xpress Enterprises from a buy rating to a hold rating and dropped their price objective for the company from $7.00 to $5.00 in a research note on Friday, May 1st. Zacks Investment Research upgraded shares of US Xpress Enterprises from a hold rating to a buy rating and set a $5.75 target price for the company in a report on Thursday, June 4th. Bank of America reiterated a hold rating and issued a $3.90 target price (up previously from $3.50) on shares of US Xpress Enterprises in a report on Tuesday, March 31st. Morgan Stanley decreased their price objective on shares of US Xpress Enterprises from $9.00 to $7.00 and set an overweight rating for the company in a report on Monday, March 23rd. Finally, ValuEngine downgraded shares of US Xpress Enterprises from a buy rating to a hold rating in a report on Thursday, July 2nd. Four research analysts have rated the stock with a hold rating and three have given a buy rating to the stock. The stock presently has a consensus rating of Hold and a consensus target price of $7.11.
US Xpress Enterprises stock opened at $6.41 on Thursday. US Xpress Enterprises has a 1-year low of $2.65 and a 1-year high of $6.61. The firm has a market capitalization of $306.45 million, a price-to-earnings ratio of -17.32 and a beta of 2.00. The firm’s fifty day moving average price is $5.57 and its two-hundred day moving average price is $4.81. The company has a current ratio of 0.84, a quick ratio of 0.84 and a debt-to-equity ratio of 2.58.
US Xpress Enterprises (NYSE:USX) last released its quarterly earnings data on Thursday, April 30th. The company reported ($0.15) earnings per share for the quarter, beating analysts’ consensus estimates of ($0.16) by $0.01. US Xpress Enterprises had a negative net margin of 1.02% and a negative return on equity of 3.68%. The firm had revenue of $432.57 million for the quarter, compared to analyst estimates of $415.49 million. On average, research analysts forecast that US Xpress Enterprises will post -0.14 EPS for the current year.
In other news, insider Lisa M. Pate sold 100,000 shares of the firm’s stock in a transaction that occurred on Wednesday, July 8th. The shares were sold at an average price of $6.11, for a total value of $611,000.00. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, Director Jon Beizer acquired 6,000 shares of the business’s stock in a transaction dated Friday, May 29th. The stock was purchased at an average price of $5.10 per share, with a total value of $30,600.00. Following the completion of the transaction, the director now directly owns 30,354 shares of the company’s stock, valued at approximately $154,805.40. The disclosure for this purchase can be found here. Insiders bought 96,331 shares of company stock valued at $427,468 in the last quarter. Corporate insiders own 29.79% of the company’s stock.
Several hedge funds have recently added to or reduced their stakes in USX. SG Americas Securities LLC bought a new position in shares of US Xpress Enterprises in the first quarter valued at approximately $36,000. Schneider Capital Management Corp bought a new stake in US Xpress Enterprises during the first quarter valued at approximately $42,000. Royal Bank of Canada lifted its position in US Xpress Enterprises by 542.3% during the first quarter. Royal Bank of Canada now owns 15,627 shares of the company’s stock valued at $52,000 after purchasing an additional 13,194 shares during the last quarter. Alliancebernstein L.P. lifted its position in US Xpress Enterprises by 42.3% during the first quarter. Alliancebernstein L.P. now owns 27,900 shares of the company’s stock valued at $93,000 after purchasing an additional 8,300 shares during the last quarter. Finally, Engineers Gate Manager LP bought a new stake in US Xpress Enterprises during the first quarter valued at approximately $97,000. Institutional investors own 35.74% of the company’s stock.
US Xpress Enterprises Company Profile
U.S. Xpress Enterprises, Inc operates as an asset-based truckload carrier providing services primarily in the United States. It operates through two segments, Truckload and Brokerage. The Truckload segment offers asset-based truckload services, including the over-the-road and contract services. The Brokerage segment provides non-asset-based freight brokerage services.
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