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

Roadrunner Transportation Systems (NYSE:RRTS) was downgraded by Zacks Investment Research from a “buy” rating to a “sell” rating in a research note issued to investors on Wednesday, 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 cut Roadrunner Transportation Systems from a “hold” rating to a “sell” rating in a report on Friday, October 25th.

RRTS stock traded up $0.11 during trading on Wednesday, hitting $9.12. The company had a trading volume of 26,326 shares, compared to its average volume of 19,861. The business has a 50-day moving average of $10.42 and a 200-day moving average of $10.03. Roadrunner Transportation Systems has a one year low of $7.30 and a one year high of $18.75. The stock has a market cap of $354.17 million, a PE ratio of -0.09 and a beta of 1.53. The company has a current ratio of 0.96, a quick ratio of 1.03 and a debt-to-equity ratio of 2.46.

Roadrunner Transportation Systems (NYSE:RRTS) last announced its earnings results on Wednesday, November 6th. The transportation company reported ($1.19) EPS for the quarter, missing the Thomson Reuters’ consensus estimate of ($0.13) by ($1.06). Roadrunner Transportation Systems had a negative net margin of 16.27% and a negative return on equity of 92.83%. The company had revenue of $459.15 million during the quarter, compared to the consensus estimate of $494.60 million. Research analysts forecast that Roadrunner Transportation Systems will post -4.26 EPS for the current year.

In other Roadrunner Transportation Systems news, Director Charles W. Shaver purchased 10,000 shares of the business’s stock in a transaction on Tuesday, November 5th. The shares were purchased at an average cost of $5.60 per share, for a total transaction of $56,000.00. Also, insider Mary Beth Denooyer purchased 6,000 shares of the business’s stock in a transaction on Tuesday, October 1st. The shares were acquired at an average price of $27.69 per share, for a total transaction of $166,140.00. Insiders have acquired a total of 81,456 shares of company stock worth $866,984 over the last 90 days. Company insiders own 0.72% of the company’s stock.

Several institutional investors have recently bought and sold shares of the business. Tower Research Capital LLC TRC bought a new position in shares of Roadrunner Transportation Systems during the 2nd quarter worth approximately $44,000. JPMorgan Chase & Co. bought a new position in shares of Roadrunner Transportation Systems during the 2nd quarter worth approximately $159,000. Finally, NJ State Employees Deferred Compensation Plan bought a new position in shares of Roadrunner Transportation Systems during the 2nd quarter worth approximately $611,000. Hedge funds and other institutional investors own 94.68% of the company’s stock.

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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