US Xpress Enterprises (NYSE:USX) was downgraded by Zacks Investment Research from a “hold” rating to a “sell” rating in a report released on Wednesday.
According to Zacks, “U.S. Xpress Enterprises, Inc. provides transportation services. The Company offers long and medium haul, contract carriage and rail services. U.S. Xpress Enterprises, Inc. is based in TN, United States. “
A number of other analysts also recently weighed in on USX. JPMorgan Chase & Co. cut their price target on shares of US Xpress Enterprises from $16.00 to $15.00 and set an “overweight” rating for the company in a report on Friday, November 2nd. Bank of America cut their price target on shares of US Xpress Enterprises from $20.00 to $15.00 and set a “buy” rating for the company in a report on Friday, November 2nd. Finally, Morgan Stanley upped their price target on shares of US Xpress Enterprises from $25.00 to $26.00 and gave the stock an “overweight” rating in a report on Monday, August 6th. One investment analyst has rated the stock with a sell rating and seven have assigned a buy rating to the company. US Xpress Enterprises presently has a consensus rating of “Buy” and an average price target of $18.67.
US Xpress Enterprises (NYSE:USX) last issued its quarterly earnings results on Thursday, November 1st. The company reported $0.33 earnings per share for the quarter, missing the Zacks’ consensus estimate of $0.38 by ($0.05). The firm had revenue of $460.23 million for the quarter, compared to the consensus estimate of $462.27 million. During the same period in the previous year, the business posted ($0.11) earnings per share. The company’s revenue for the quarter was up 18.0% compared to the same quarter last year. As a group, equities analysts forecast that US Xpress Enterprises will post 1.39 earnings per share for the current year.
Institutional investors have recently modified their holdings of the company. NJ State Employees Deferred Compensation Plan bought a new stake in shares of US Xpress Enterprises during the 3rd quarter worth approximately $580,000. Sei Investments Co. bought a new stake in shares of US Xpress Enterprises during the 2nd quarter worth approximately $1,341,000. Citadel Advisors LLC bought a new position in US Xpress Enterprises in the 2nd quarter valued at approximately $25,995,000. Emerald Advisers Inc. PA bought a new position in US Xpress Enterprises in the 2nd quarter valued at approximately $15,314,000. Finally, Bank of America Corp DE bought a new position in US Xpress Enterprises in the 2nd quarter valued at approximately $8,498,000.
About US Xpress Enterprises
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.
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