US Xpress Enterprises (USX) Shares Gap Down on Analyst Downgrade

Share on StockTwits

Shares of US Xpress Enterprises Inc (NYSE:USX) gapped down prior to trading on Monday after JPMorgan Chase & Co. lowered their price target on the stock from $16.00 to $15.00. The stock had previously closed at $5.30, but opened at $7.10. JPMorgan Chase & Co. currently has an overweight rating on the stock. US Xpress Enterprises shares last traded at $6.95, with a volume of 23800 shares.

Several other research firms have also recently weighed in on USX. Wells Fargo & Co began coverage on US Xpress Enterprises in a research report on Monday, July 9th. They set an “outperform” rating and a $21.00 price objective for the company. Stifel Nicolaus began coverage on US Xpress Enterprises in a research report on Monday, July 9th. They set a “buy” rating and a $22.00 price objective for the company. Bank of America began coverage on US Xpress Enterprises in a research report on Monday, July 9th. They set a “buy” rating and a $20.00 price objective for the company. Morgan Stanley began coverage on US Xpress Enterprises in a research report on Monday, July 9th. They set an “overweight” rating and a $25.00 price objective for the company. Finally, Stephens began coverage on US Xpress Enterprises in a research report on Monday, July 9th. They set an “overweight” rating for the company. One research analyst has rated the stock with a hold rating and seven have assigned a buy rating to the stock. The stock currently has a consensus rating of “Buy” and an average price target of $18.67.

In other news, insider John William White purchased 23,000 shares of the stock in a transaction that occurred on Tuesday, August 7th. The shares were purchased at an average cost of $13.68 per share, for a total transaction of $314,640.00. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website.

A number of institutional investors and hedge funds have recently modified their holdings of the stock. Citadel Advisors LLC bought a new position in US Xpress Enterprises during the second quarter valued at about $25,995,000. Emerald Advisers Inc. PA increased its stake in US Xpress Enterprises by 5.2% during the third quarter. Emerald Advisers Inc. PA now owns 1,064,502 shares of the company’s stock valued at $14,690,000 after acquiring an additional 53,002 shares during the period. Emerald Mutual Fund Advisers Trust increased its stake in US Xpress Enterprises by 6.1% during the third quarter. Emerald Mutual Fund Advisers Trust now owns 1,005,409 shares of the company’s stock valued at $13,875,000 after acquiring an additional 57,766 shares during the period. Voya Investment Management LLC bought a new position in US Xpress Enterprises during the second quarter valued at about $13,931,000. Finally, Putnam Investments LLC bought a new position in US Xpress Enterprises during the second quarter valued at about $12,449,000.

The company has a debt-to-equity ratio of 1.31, a quick ratio of 1.06 and a current ratio of 1.06.

US Xpress Enterprises (NYSE:USX) last issued its quarterly earnings results on Thursday, November 1st. The company reported $0.33 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.38 by ($0.05). The company had revenue of $460.23 million during the quarter, compared to analysts’ expectations of $462.27 million. During the same quarter last year, the company earned ($0.11) EPS. The firm’s revenue for the quarter was up 18.0% on a year-over-year basis. As a group, analysts forecast that US Xpress Enterprises Inc will post 1.4 EPS for the current year.

TRADEMARK VIOLATION WARNING: This article was originally published by Macon Daily and is the sole property of of Macon Daily. If you are reading this article on another website, it was stolen and republished in violation of United States & international copyright law. The legal version of this article can be read at https://macondaily.com/2018/11/05/us-xpress-enterprises-usx-shares-gap-down-on-analyst-downgrade.html.

US Xpress Enterprises Company Profile (NYSE:USX)

U.S. Xpress Enterprises, Inc operates as an asset-based truckload carrier providing services primarily in the United States. It operates in 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.

Featured Story: How is Preferred Stock Different from Common Stock?

Receive News & Ratings for US Xpress Enterprises Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for US Xpress Enterprises and related companies with MarketBeat.com's FREE daily email newsletter.

Leave a Reply