Zacks Investment Research cut shares of Student Transportation Inc (NASDAQ:STB) (TSE:STB) from a buy rating to a hold rating in a research note published on Tuesday.

According to Zacks, “Student Transportation Inc. provides school bus transportation services in the United States and Canada. Its services are delivered by drivers, dispatchers, maintenance technicians and terminal managers. Student Transportation Inc., formerly known as Student Transportation of America, Ltd., is based in Barrie, Canada. “

A number of other equities research analysts have also issued reports on the company. National Bank Financial raised Student Transportation from a sector perform rating to an outperform rating in a research report on Thursday, September 21st. BidaskClub lowered Student Transportation from a buy rating to a hold rating in a research report on Monday, July 24th. Stifel Nicolaus reaffirmed a buy rating and set a $6.50 target price on shares of Student Transportation in a research report on Friday, September 22nd. Finally, BMO Capital Markets cut their target price on Student Transportation from $8.25 to $7.60 and set a market perform rating on the stock in a research report on Friday, September 22nd. Two investment analysts have rated the stock with a hold rating and four have given a buy rating to the company. The stock presently has an average rating of Buy and an average target price of $6.84.

Shares of Student Transportation (NASDAQ STB) opened at 5.96 on Tuesday. The company’s 50-day moving average price is $5.97 and its 200-day moving average price is $5.94. Student Transportation has a 52-week low of $5.39 and a 52-week high of $6.21. The stock has a market cap of $564.00 million, a PE ratio of 85.14 and a beta of 0.74.

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The business also recently announced a monthly dividend, which will be paid on Wednesday, November 15th. Stockholders of record on Tuesday, October 31st will be given a dividend of $0.0367 per share. This represents a $0.44 dividend on an annualized basis and a dividend yield of 7.38%. The ex-dividend date is Monday, October 30th. Student Transportation’s dividend payout ratio (DPR) is presently 628.66%.

A number of large investors have recently bought and sold shares of the stock. CIBC World Markets Inc. raised its position in Student Transportation by 21.7% during the second quarter. CIBC World Markets Inc. now owns 2,739,930 shares of the transportation company’s stock valued at $16,618,000 after buying an additional 487,641 shares during the period. Renaissance Technologies LLC raised its position in Student Transportation by 10.1% during the first quarter. Renaissance Technologies LLC now owns 1,485,671 shares of the transportation company’s stock valued at $8,706,000 after buying an additional 136,427 shares during the period. Global X Management Co. LLC raised its position in Student Transportation by 5.6% during the second quarter. Global X Management Co. LLC now owns 1,442,275 shares of the transportation company’s stock valued at $8,755,000 after buying an additional 76,052 shares during the period. Morgan Stanley raised its position in Student Transportation by 0.8% during the first quarter. Morgan Stanley now owns 1,032,678 shares of the transportation company’s stock valued at $6,052,000 after buying an additional 7,912 shares during the period. Finally, Scotia Capital Inc. raised its position in Student Transportation by 19.9% during the second quarter. Scotia Capital Inc. now owns 747,096 shares of the transportation company’s stock valued at $4,523,000 after buying an additional 124,087 shares during the period. 25.68% of the stock is currently owned by hedge funds and other institutional investors.

About Student Transportation

Student Transportation Inc is a Canada-based company engaged in providing school bus transportation services in North America. The Company provides school bus and management services to public and private schools in North America and offers services, such as contracted services, special needs transportation, charter services, direct to parent and used bus sales.

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