Zacks Investment Research Lowers Roadrunner Transportation Systems (NYSE:RRTS) to Sell

Zacks Investment Research lowered shares of Roadrunner Transportation Systems (NYSE:RRTS) from a hold rating to a sell rating in a report released on Wednesday morning, Zacks.com reports.

According to Zacks, “Roadrunner Transportation Systems, Inc. is a non-asset based transportation and logistics services provider offering a full suite of solutions, including customized and expedited less-than-truckload, truckload and intermodal brokerage, and domestic and international air. The Company utilizes a proprietary webenabled technology system and a third-party network of transportation providers to serve a diverse customer base in terms of end market focus and annual freight expenditures. Its third-party transportation providers consist of individuals or small teams that own or lease their own over-the-road transportation equipment and asset-based, over-the-road transportation companies. As a non-asset based transportation provider, the Company does not own any tractors or other power equipment used to transport its customers’ freight. Roadrunner Transportation Systems, Inc. is headquartered in Cudahy, Wisconsin. “

Separately, ValuEngine downgraded Roadrunner Transportation Systems from a buy rating to a hold rating in a research report on Tuesday.

RRTS traded up $0.07 during trading on Wednesday, hitting $10.44. The company’s stock had a trading volume of 13,624 shares, compared to its average volume of 36,087. The firm’s 50 day moving average price is $9.92 and its two-hundred day moving average price is $9.62. The company has a quick ratio of 1.03, a current ratio of 1.03 and a debt-to-equity ratio of 1.46. Roadrunner Transportation Systems has a 12 month low of $7.30 and a 12 month high of $23.75. The stock has a market capitalization of $377.88 million, a price-to-earnings ratio of -0.10 and a beta of 1.49.

Roadrunner Transportation Systems (NYSE:RRTS) last issued its quarterly earnings data on Wednesday, August 7th. The transportation company reported ($0.89) earnings per share (EPS) for the quarter. Roadrunner Transportation Systems had a negative net margin of 12.95% and a negative return on equity of 111.48%. The business had revenue of $480.69 million during the quarter, compared to the consensus estimate of $531.50 million. On average, sell-side analysts forecast that Roadrunner Transportation Systems will post -2.49 earnings per share for the current year.

In other news, major shareholder International L.P. Elliott bought 4,987 shares of the stock in a transaction dated Thursday, August 1st. The stock was bought at an average cost of $9.42 per share, with a total value of $46,977.54. The purchase was disclosed in a document filed with the SEC, which is accessible through the SEC website. Also, insider Mary Beth Denooyer bought 6,000 shares of the stock in a transaction dated Tuesday, October 1st. The stock was purchased at an average cost of $27.69 per share, with a total value of $166,140.00. Insiders bought a total of 111,010 shares of company stock valued at $3,086,397 over the last three months. Insiders own 0.72% of the company’s stock.

Hedge funds and other institutional investors have recently added to or reduced their stakes in the company. NJ State Employees Deferred Compensation Plan bought a new position in shares of Roadrunner Transportation Systems in the second quarter worth $611,000. JPMorgan Chase & Co. bought a new position in shares of Roadrunner Transportation Systems in the second quarter worth $159,000. Finally, Tower Research Capital LLC TRC bought a new position in shares of Roadrunner Transportation Systems in the second quarter worth $44,000. 94.69% of the stock is owned by institutional investors.

About Roadrunner Transportation Systems

Roadrunner Transportation Systems, Inc provides asset-right transportation and asset-light logistics services. The company operates through three segments: Truckload & Express Services (TES), Less-than-Truckload (LTL), and Ascent Global Logistics. The TES segment provides air and ground expedite, scheduled truckload, intermodal, temperature-controlled truckload, and other truckload and logistics services; and arranges the pickup and delivery of TES freight through its 35 TES service centers in the United States.

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