Roadrunner Transportation Systems (RRTS) Cut to “Sell” at Zacks Investment Research

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Zacks Investment Research lowered shares of Roadrunner Transportation Systems (NYSE:RRTS) from a hold rating to a sell rating in a research note published on Wednesday, reports.

According to Zacks, “Roadrunner Transportation Systems, Inc. is a non-asset based transportation and logistics services provider offering a full suite of solutions, including customized and expedited less-than-truckload, truckload and intermodal brokerage, and domestic and international air. The Company utilizes a proprietary webenabled technology system and a third-party network of transportation providers to serve a diverse customer base in terms of end market focus and annual freight expenditures. Its third-party transportation providers consist of individuals or small teams that own or lease their own over-the-road transportation equipment and asset-based, over-the-road transportation companies. As a non-asset based transportation provider, the Company does not own any tractors or other power equipment used to transport its customers’ freight. Roadrunner Transportation Systems, Inc. is headquartered in Cudahy, Wisconsin. “

A number of other equities analysts also recently commented on the stock. ValuEngine raised shares of Roadrunner Transportation Systems from a sell rating to a hold rating in a report on Wednesday, January 16th. Stifel Nicolaus initiated coverage on shares of Roadrunner Transportation Systems in a report on Tuesday, January 15th. They set a hold rating on the stock.

NYSE:RRTS opened at $11.59 on Wednesday. The company has a market cap of $394.30 million, a price-to-earnings ratio of -2.90 and a beta of 1.56. The company has a debt-to-equity ratio of 25.38, a quick ratio of 1.18 and a current ratio of 1.18. Roadrunner Transportation Systems has a 52 week low of $9.65 and a 52 week high of $87.00.

Roadrunner Transportation Systems (NYSE:RRTS) last issued its quarterly earnings results on Tuesday, March 12th. The transportation company reported ($32.50) earnings per share for the quarter, missing the Zacks’ consensus estimate of ($1.25) by ($31.25). The firm had revenue of $551.55 million during the quarter, compared to the consensus estimate of $574.20 million. Roadrunner Transportation Systems had a negative net margin of 7.47% and a negative return on equity of 688.98%. On average, research analysts forecast that Roadrunner Transportation Systems will post 0.01 earnings per share for the current fiscal year.

In related news, major shareholder Associates L.P. Elliott purchased 231,143,609 shares of the business’s stock in a transaction that occurred on Tuesday, February 26th. The shares were acquired at an average price of $0.50 per share, with a total value of $115,571,804.50. The transaction was disclosed in a document filed with the SEC, which is available at this hyperlink. Also, major shareholder Equity Investors V. Lp Thayer sold 2,000,000 shares of the business’s stock in a transaction that occurred on Thursday, February 14th. The shares were sold at an average price of $0.48, for a total value of $960,000.00. The disclosure for this sale can be found here. 0.24% of the stock is owned by corporate insiders.

A hedge fund recently raised its stake in Roadrunner Transportation Systems stock. Elliott Management Corp raised its stake in Roadrunner Transportation Systems Inc (NYSE:RRTS) by 58.4% during the fourth quarter, according to its most recent disclosure with the SEC. The fund owned 5,242,855 shares of the transportation company’s stock after buying an additional 1,932,372 shares during the quarter. Elliott Management Corp owned approximately 13.61% of Roadrunner Transportation Systems worth $2,601,000 as of its most recent SEC filing. 1.19% of the stock is currently owned by institutional investors and hedge funds.

About Roadrunner Transportation Systems

Roadrunner Transportation Systems, Inc provides asset-right transportation and asset-light logistics services. The company operates through three segments: Truckload Logistics (TL), Less-than-Truckload (LTL), and Ascent Global Logistics. The TL segment arranges pickup and delivery of truckload, intermodal, and ground and air expedited freight through its 41 TL service centers, 40 company brokers, and approximately 90 independent brokerage agents in the United States, Mexico, and Canada.

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