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 report issued 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 reissued 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 $1.85 on Friday. The company has a 50 day moving average of $1.67 and a 200-day moving average of $1.98. The firm has a market cap of $65.39 million, a P/E ratio of -1.21 and a beta of 3.01. YRC Worldwide has a twelve month low of $1.29 and a twelve month 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 for the quarter, topping analysts’ consensus estimates of ($0.80) by $0.92. The company had revenue of $1.15 billion during the quarter, compared to analyst estimates of $1.13 billion. During the same period in the prior year, the company posted ($1.48) earnings per share. Equities analysts forecast that YRC Worldwide will post -3.1 earnings per share for the current fiscal year.

Hedge funds have recently added to or reduced their stakes in the stock. Bank of New York Mellon Corp lifted its stake in YRC Worldwide by 5.3% during the fourth quarter. Bank of New York Mellon Corp now owns 275,731 shares of the transportation company’s stock valued at $703,000 after purchasing an additional 13,906 shares during the last quarter. Jacobs Levy Equity Management Inc. acquired a new stake in YRC Worldwide during the fourth quarter valued at approximately $131,000. Charles Schwab Investment Management Inc. lifted its stake in YRC Worldwide by 14.1% during the fourth quarter. Charles Schwab Investment Management Inc. now owns 955,656 shares of the transportation company’s stock valued at $2,437,000 after purchasing an additional 117,852 shares during the last quarter. Spark Investment Management LLC acquired a new stake in shares of YRC Worldwide during the fourth quarter valued at approximately $78,000. Finally, Williams Jones Wealth Management LLC. acquired a new stake in shares of YRC Worldwide during the fourth quarter valued at approximately $73,000. 56.74% of the stock is owned by institutional investors and hedge funds.

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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