US Xpress Enterprises Inc (NYSE:USX) fell 7.7% on Friday . The company traded as low as $7.48 and last traded at $7.67. 557,780 shares changed hands during trading, an increase of 25% from the average session volume of 447,763 shares. The stock had previously closed at $8.31.
A number of brokerages recently weighed in on USX. Zacks Investment Research downgraded US Xpress Enterprises from a “hold” rating to a “sell” rating in a research report on Thursday, October 4th. Morgan Stanley raised their price objective on US Xpress Enterprises from $25.00 to $26.00 and gave the company an “overweight” rating in a research report on Monday, August 6th. Bank of America dropped their price objective on US Xpress Enterprises from $20.00 to $15.00 and set a “buy” rating on the stock in a research report on Friday, November 2nd. Finally, JPMorgan Chase & Co. dropped their price objective on US Xpress Enterprises from $16.00 to $15.00 and set an “overweight” rating on the stock in a research report on Friday, November 2nd. One investment analyst has rated the stock with a sell rating and seven have assigned a buy rating to the company’s stock. The stock has a consensus rating of “Buy” and an average target price of $18.67.
The company has a debt-to-equity ratio of 1.31, a quick ratio of 1.06 and a current ratio of 1.06.
In related news, Director John C. Rickel acquired 5,000 shares of the company’s stock in a transaction that occurred on Tuesday, November 6th. The shares were bought at an average price of $7.49 per share, with a total value of $37,450.00. The acquisition was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link.
Hedge funds and other institutional investors have recently modified their holdings of the business. Legal & General Group Plc acquired a new stake in US Xpress Enterprises in the second quarter worth about $152,000. Northern Trust Corp acquired a new stake in US Xpress Enterprises in the second quarter worth about $188,000. American International Group Inc. acquired a new stake in US Xpress Enterprises in the third quarter worth about $192,000. Rhumbline Advisers acquired a new stake in US Xpress Enterprises in the third quarter worth about $222,000. Finally, Engineers Gate Manager LP acquired a new stake in US Xpress Enterprises in the third quarter worth about $346,000.
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About US Xpress Enterprises (NYSE:USX)
U.S. Xpress Enterprises, Inc operates as an asset-based truckload carrier providing services primarily in the United States. It operates in two segments, Truckload and Brokerage. The Truckload segment offers asset-based truckload services, including the over-the-road and contract services. The Brokerage segment provides non-asset-based freight brokerage services.
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