Daseke (NASDAQ:DSKE) Stock Rating Lowered by Zacks Investment Research

Daseke (NASDAQ:DSKE) was downgraded by Zacks Investment Research from a “hold” rating to a “strong sell” rating in a report issued on Tuesday, Zacks.com reports.

According to Zacks, “Daseke, Inc. operates as a transportation company. It provides fleet management, logistics, trucking and open deck transportation services. Daseke, Inc., formerly known as Hennessy Capital Acquisition Corp. II, is based in Addison, United States. “

Separately, ValuEngine downgraded Daseke from a “buy” rating to a “hold” rating in a research note on Thursday, November 14th. Two analysts have rated the stock with a sell rating, two have given a hold rating and three have assigned a buy rating to the company’s stock. The company currently has a consensus rating of “Hold” and an average target price of $7.50.

Shares of DSKE stock opened at $3.62 on Tuesday. The business’s 50 day moving average is $3.15 and its two-hundred day moving average is $2.91. Daseke has a twelve month low of $1.46 and a twelve month high of $5.65. The company has a market capitalization of $218.31 million, a P/E ratio of 5.66 and a beta of 1.52. The company has a current ratio of 1.39, a quick ratio of 1.39 and a debt-to-equity ratio of 6.92.

Daseke (NASDAQ:DSKE) last announced its earnings results on Tuesday, November 12th. The company reported ($4.14) earnings per share for the quarter, missing the consensus estimate of ($0.17) by ($3.97). Daseke had a negative net margin of 17.35% and a positive return on equity of 10.65%. The company had revenue of $450.40 million during the quarter, compared to analysts’ expectations of $433.86 million. During the same quarter last year, the business posted $0.01 earnings per share. The company’s revenue for the quarter was down 2.4% compared to the same quarter last year. As a group, equities analysts predict that Daseke will post 0.32 earnings per share for the current fiscal year.

Several institutional investors have recently bought and sold shares of DSKE. Virtu Financial LLC acquired a new position in Daseke during the third quarter worth $89,000. Rhumbline Advisers lifted its stake in Daseke by 11.0% in the 3rd quarter. Rhumbline Advisers now owns 71,191 shares of the company’s stock valued at $178,000 after purchasing an additional 7,071 shares during the last quarter. Nuveen Asset Management LLC bought a new position in Daseke in the 2nd quarter valued at approximately $2,078,000. Sunbelt Securities Inc. bought a new position in Daseke in the 3rd quarter valued at approximately $49,000. Finally, BlackRock Inc. lifted its stake in Daseke by 7.7% in the 2nd quarter. BlackRock Inc. now owns 3,528,275 shares of the company’s stock valued at $12,701,000 after purchasing an additional 253,165 shares during the last quarter. Hedge funds and other institutional investors own 27.99% of the company’s stock.

About Daseke

Daseke, Inc provides transportation and logistics solutions with a focus on flatbed and specialized freight in North America. It operates through two segments, Flatbed Solutions and Specialized Solutions. The company transports aircraft parts, manufacturing equipment, structural steel, pressure vessels, wind turbine blades, heavy machinery, commercial glass, high security cargo, arms, ammunition and explosives, lumber, and building and construction materials.

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