ValuEngine Upgrades Patriot Transportation (NASDAQ:PATI) to “Buy”

ValuEngine upgraded shares of Patriot Transportation (NASDAQ:PATI) from a hold rating to a buy rating in a research note released on Wednesday, ValuEngine reports.

PATI stock traded up $0.36 during midday trading on Wednesday, hitting $14.86. 5,920 shares of the stock traded hands, compared to its average volume of 29,772. The firm has a market cap of $51.44 million, a P/E ratio of 42.64 and a beta of -0.12. The stock’s fifty day simple moving average is $18.87 and its 200-day simple moving average is $17.99. Patriot Transportation has a 1-year low of $12.62 and a 1-year high of $21.26.

The company also recently declared a — dividend, which will be paid on Thursday, January 30th. Investors of record on Wednesday, January 15th will be given a dividend of $0.15 per share. The ex-dividend date of this dividend is Tuesday, January 14th.

An institutional investor recently raised its position in Patriot Transportation stock. Willis Investment Counsel boosted its position in shares of Patriot Transportation Holding Inc (NASDAQ:PATI) by 10.0% during the 3rd quarter, according to the company in its most recent disclosure with the SEC. The firm owned 147,653 shares of the transportation company’s stock after buying an additional 13,482 shares during the quarter. Willis Investment Counsel owned approximately 4.41% of Patriot Transportation worth $2,643,000 at the end of the most recent reporting period. 48.64% of the stock is owned by hedge funds and other institutional investors.

Patriot Transportation Company Profile

Patriot Transportation Holding, Inc, through its subsidiary, Florida Rock & Tank Lines, Inc, engages in the transportation business. The company is involved in hauling petroleum related products, including gas and diesel fuel; and dry bulk commodities, such as cement, lime, and various industrial powder products, and liquid chemicals.

See Also: Commodities

To view ValuEngine’s full report, visit ValuEngine’s official website.

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