Zacks Investment Research Lowers P.A.M. Transportation Services (NASDAQ:PTSI) to Strong Sell

P.A.M. Transportation Services (NASDAQ:PTSI) was downgraded by Zacks Investment Research from a “hold” rating to a “strong sell” rating in a report released on Friday, Zacks.com reports.

According to Zacks, “P.A.M. Transportation Services, Inc. is an irregular route, common and contract motor carrier authorized to transport general commodities. The freight consists primarily of automotive parts, consumer goods, such as general retail store merchandise, and products from the manufacturing sector, such as heating and air conditioning units. All freight is transported as truckload quantities. “

PTSI has been the topic of several other reports. Stifel Nicolaus upgraded P.A.M. Transportation Services from a “hold” rating to a “buy” rating and set a $39.00 price target on the stock in a research report on Thursday, July 9th. TheStreet lowered P.A.M. Transportation Services from a “b-” rating to a “c” rating in a research note on Thursday, May 28th. Finally, BidaskClub raised P.A.M. Transportation Services from a “strong sell” rating to a “sell” rating in a research note on Thursday, April 9th. Two research analysts have rated the stock with a sell rating, one has given a hold rating and one has issued a buy rating to the company’s stock. P.A.M. Transportation Services currently has a consensus rating of “Hold” and a consensus price target of $39.00.

Shares of PTSI stock traded down $0.45 during mid-day trading on Friday, hitting $28.06. 2,137 shares of the stock traded hands, compared to its average volume of 11,457. P.A.M. Transportation Services has a twelve month low of $22.00 and a twelve month high of $71.56. The firm has a market cap of $161.13 million, a price-to-earnings ratio of 18.46 and a beta of 1.83. The company’s 50-day simple moving average is $31.22 and its 200-day simple moving average is $37.45. The company has a debt-to-equity ratio of 1.43, a quick ratio of 0.82 and a current ratio of 0.83.

P.A.M. Transportation Services (NASDAQ:PTSI) last issued its quarterly earnings results on Wednesday, July 29th. The transportation company reported ($0.43) earnings per share (EPS) for the quarter, missing the consensus estimate of $0.15 by ($0.58). P.A.M. Transportation Services had a negative net margin of 2.36% and a positive return on equity of 6.34%. The firm had revenue of $92.98 million for the quarter, compared to analyst estimates of $101.60 million. Analysts forecast that P.A.M. Transportation Services will post 1.55 earnings per share for the current year.

Institutional investors and hedge funds have recently added to or reduced their stakes in the company. JPMorgan Chase & Co. boosted its stake in shares of P.A.M. Transportation Services by 407.5% during the 1st quarter. JPMorgan Chase & Co. now owns 3,177 shares of the transportation company’s stock worth $98,000 after acquiring an additional 2,551 shares in the last quarter. State Street Corp boosted its stake in shares of P.A.M. Transportation Services by 3.4% during the 1st quarter. State Street Corp now owns 26,562 shares of the transportation company’s stock worth $817,000 after acquiring an additional 884 shares in the last quarter. UBS Group AG boosted its stake in shares of P.A.M. Transportation Services by 27.5% during the 4th quarter. UBS Group AG now owns 2,872 shares of the transportation company’s stock worth $166,000 after acquiring an additional 619 shares in the last quarter. Royal Bank of Canada boosted its stake in shares of P.A.M. Transportation Services by 44.6% during the 1st quarter. Royal Bank of Canada now owns 3,036 shares of the transportation company’s stock worth $94,000 after acquiring an additional 937 shares in the last quarter. Finally, Wells Fargo & Company MN boosted its position in shares of P.A.M. Transportation Services by 29.2% in the first quarter. Wells Fargo & Company MN now owns 3,814 shares of the transportation company’s stock worth $117,000 after buying an additional 861 shares during the period. 25.01% of the stock is owned by institutional investors and hedge funds.

About P.A.M. Transportation Services

P.A.M. Transportation Services, Inc, through its subsidiaries, operates as a truckload transportation and logistics company in the United States, Mexico, and Canada. The company is involved in the transportation of general commodities. Its freight primarily consists of automotive parts; expedited goods; consumer goods, including general retail store merchandise; and manufactured goods, such as heating and air conditioning units.

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