YRC Worldwide (NASDAQ:YRCW) Cut to Sell at Zacks Investment Research

Zacks Investment Research lowered shares of YRC Worldwide (NASDAQ:YRCW) from a hold rating to a sell rating in a research note released 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 set a $2.00 target price on shares of YRC Worldwide in a research note on Thursday, April 9th.

Shares of NASDAQ:YRCW opened at $1.74 on Friday. The firm has a market capitalization of $60.50 million, a PE ratio of -1.14 and a beta of 3.01. The firm’s 50-day moving average is $1.66 and its two-hundred day moving average is $1.99. YRC Worldwide has a 1 year low of $1.29 and a 1 year high of $4.79.

YRC Worldwide (NASDAQ:YRCW) last issued its quarterly earnings results on Monday, May 11th. The transportation company reported $0.12 earnings per share (EPS) for the quarter, topping the Zacks’ consensus estimate of ($0.80) by $0.92. The business had revenue of $1.15 billion for the quarter, compared to analysts’ expectations of $1.13 billion. During the same quarter last year, the company earned ($1.48) earnings per share. As a group, equities analysts forecast that YRC Worldwide will post -3.1 earnings per share for the current fiscal year.

Several hedge funds have recently added to or reduced their stakes in the stock. Royal Bank of Canada increased its stake in shares of YRC Worldwide by 1,136.9% during the first quarter. Royal Bank of Canada now owns 27,992 shares of the transportation company’s stock worth $47,000 after buying an additional 25,729 shares during the period. Invesco Ltd. boosted its holdings in YRC Worldwide by 434.6% in the first quarter. Invesco Ltd. now owns 948,010 shares of the transportation company’s stock valued at $1,593,000 after purchasing an additional 770,668 shares in the last quarter. Geode Capital Management LLC boosted its holdings in YRC Worldwide by 9.8% in the first quarter. Geode Capital Management LLC now owns 498,982 shares of the transportation company’s stock valued at $838,000 after purchasing an additional 44,647 shares in the last quarter. Alliancebernstein L.P. boosted its holdings in YRC Worldwide by 176.3% in the first quarter. Alliancebernstein L.P. now owns 64,100 shares of the transportation company’s stock valued at $108,000 after purchasing an additional 40,900 shares in the last quarter. Finally, Nuveen Asset Management LLC boosted its holdings in YRC Worldwide by 63.6% in the first quarter. Nuveen Asset Management LLC now owns 187,281 shares of the transportation company’s stock valued at $315,000 after purchasing an additional 72,801 shares in the last quarter. Hedge funds and other institutional investors own 56.74% of the company’s stock.

YRC Worldwide Company Profile

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.

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