Yellow (NASDAQ:YELL) Downgraded by Zacks Investment Research

Yellow (NASDAQ:YELL) was downgraded by Zacks Investment Research from a “hold” rating to a “sell” rating in a report issued on Thursday, Zacks.com reports.

According to Zacks, “Yellow Corporation provides comprehensive logistics and less-than-truckload networks in North America with local, regional, national and international. The company offers industry expertise in flexible supply chain solutions, ensuring customers can ship industrial, commercial and retail goods. It is the holding company for a portfolio of LTL brands including Holland, New Penn, Reddaway and YRC Freight, as well as the logistics company HNRY Logistics. Yellow Corporation, formerly known as YRC Worldwide Inc., is headquarted in OVERLAND PARK, Kan. “

A number of other research firms have also issued reports on YELL. TheStreet lowered Yellow from a “c-” rating to a “d+” rating in a research note on Friday, January 7th. Stephens boosted their price target on Yellow from $12.00 to $15.00 in a report on Tuesday, January 4th. Finally, Stifel Nicolaus boosted their price target on Yellow from $7.00 to $13.00 and gave the company a “hold” rating in a report on Tuesday, November 9th. One analyst has rated the stock with a sell rating, two have given a hold rating and one has given a buy rating to the company’s stock. According to MarketBeat, Yellow has an average rating of “Hold” and a consensus target price of $14.50.

Shares of NASDAQ:YELL opened at $11.16 on Thursday. The business’s 50 day simple moving average is $12.58 and its 200-day simple moving average is $8.57. The firm has a market capitalization of $572.35 million, a price-to-earnings ratio of -6.76 and a beta of 3.04. Yellow has a 12 month low of $4.49 and a 12 month high of $15.24.

Yellow (NASDAQ:YELL) last announced its quarterly earnings results on Wednesday, November 3rd. The company reported $0.16 EPS for the quarter, topping the Thomson Reuters’ consensus estimate of $0.01 by $0.15. The firm had revenue of $1.30 billion for the quarter, compared to analysts’ expectations of $1.36 billion. During the same period last year, the firm earned ($0.04) EPS. On average, sell-side analysts expect that Yellow will post -1.46 EPS for the current year.

In other news, Director Matthew A. Doheny acquired 25,000 shares of the company’s stock in a transaction dated Monday, November 8th. The stock was acquired at an average cost of $11.10 per share, for a total transaction of $277,500.00. The purchase was disclosed in a filing with the SEC, which can be accessed through this hyperlink. Also, Director Douglas A. Carty acquired 10,000 shares of the company’s stock in a transaction dated Wednesday, December 1st. The shares were purchased at an average price of $13.51 per share, with a total value of $135,100.00. The disclosure for this purchase can be found here. Insiders acquired a total of 66,000 shares of company stock valued at $820,250 over the last quarter. 3.70% of the stock is currently owned by insiders.

A number of hedge funds and other institutional investors have recently made changes to their positions in the stock. BlackRock Inc. increased its holdings in Yellow by 0.6% in the 3rd quarter. BlackRock Inc. now owns 3,316,689 shares of the company’s stock valued at $18,740,000 after purchasing an additional 19,778 shares in the last quarter. Vanguard Group Inc. boosted its position in Yellow by 6.5% in the 2nd quarter. Vanguard Group Inc. now owns 2,372,991 shares of the company’s stock valued at $15,448,000 after buying an additional 145,460 shares during the last quarter. Weiss Multi Strategy Advisers LLC boosted its position in Yellow by 56.0% in the 2nd quarter. Weiss Multi Strategy Advisers LLC now owns 1,130,627 shares of the company’s stock valued at $7,360,000 after buying an additional 406,050 shares during the last quarter. Macquarie Group Ltd. purchased a new position in Yellow in the 2nd quarter valued at about $5,765,000. Finally, Geode Capital Management LLC boosted its position in Yellow by 94.4% in the 2nd quarter. Geode Capital Management LLC now owns 829,094 shares of the company’s stock valued at $5,397,000 after buying an additional 402,518 shares during the last quarter. Hedge funds and other institutional investors own 45.71% of the company’s stock.

About Yellow

Yellow Corp. operates as a holding company, which through its subsidiaries engages in the provision of transportation services. It operates through the portfolio of LTL brands including Holland, New Penn, Reddaway, and YRC Freight, as well as the logistics company. The company was founded by A. J. Harrell in 1924 and is headquartered in Overland Park, KS.

Recommended Story: Price Target

Get a free copy of the Zacks research report on Yellow (YELL)

For more information about research offerings from Zacks Investment Research, visit Zacks.com

Receive News & Ratings for Yellow Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Yellow and related companies with MarketBeat.com's FREE daily email newsletter.