US Xpress Enterprises (NYSE:USX) Upgraded at BofA Securities

BofA Securities upgraded shares of US Xpress Enterprises (NYSE:USX) from a neutral rating to a buy rating in a research note issued to investors on Wednesday morning, Briefing.com Automated Import reports. BofA Securities currently has $9.00 target price on the stock, up from their prior target price of $7.00.

A number of other brokerages have also recently weighed in on USX. JPMorgan Chase & Co. cut shares of US Xpress Enterprises from an overweight rating to a neutral rating and set a $7.00 price target for the company. in a research note on Thursday, July 9th. Zacks Investment Research upgraded shares of US Xpress Enterprises from a hold rating to a buy rating and set a $5.75 target price for the company in a research note on Thursday, June 4th. Stifel Nicolaus cut shares of US Xpress Enterprises from a buy rating to a hold rating and reduced their target price for the stock from $7.00 to $5.00 in a research note on Friday, May 1st. ValuEngine cut shares of US Xpress Enterprises from a buy rating to a hold rating in a research note on Thursday, July 2nd. Finally, Bank of America upgraded shares of US Xpress Enterprises from a neutral rating to a buy rating and raised their target price for the stock from $7.00 to $9.00 in a research note on Wednesday. Three equities research analysts have rated the stock with a hold rating and five have assigned a buy rating to the stock. The stock currently has a consensus rating of Buy and a consensus target price of $8.25.

NYSE USX opened at $9.16 on Wednesday. The company has a debt-to-equity ratio of 2.58, a current ratio of 0.84 and a quick ratio of 0.84. The firm’s fifty day moving average price is $6.32 and its 200 day moving average price is $5.01. The company has a market capitalization of $452.78 million, a price-to-earnings ratio of -38.17 and a beta of 2.00. US Xpress Enterprises has a 12 month low of $2.65 and a 12 month high of $10.34.

US Xpress Enterprises (NYSE:USX) last issued its quarterly earnings results on Tuesday, July 28th. The company reported $0.18 earnings per share for the quarter, topping the Zacks’ consensus estimate of ($0.15) by $0.33. The firm had revenue of $422.48 million during the quarter, compared to analysts’ expectations of $420.27 million. US Xpress Enterprises had a negative net margin of 0.62% and a negative return on equity of 0.87%. As a group, sell-side analysts forecast that US Xpress Enterprises will post 0.29 earnings per share for the current year.

In related news, Director Jon Beizer acquired 6,000 shares of US Xpress Enterprises stock in a transaction that occurred on Friday, May 29th. The stock was purchased at an average price of $5.10 per share, for a total transaction of $30,600.00. Following the completion of the purchase, the director now directly owns 30,354 shares of the company’s stock, valued at $154,805.40. The purchase was disclosed in a document filed with the SEC, which is available through the SEC website. Also, insider Max L. Fuller acquired 82,315 shares of US Xpress Enterprises stock in a transaction that occurred on Wednesday, May 20th. The stock was bought at an average price of $4.35 per share, with a total value of $358,070.25. The disclosure for this purchase can be found here. Insiders purchased 96,331 shares of company stock valued at $427,468 in the last quarter. Company insiders own 29.79% of the company’s stock.

A number of large investors have recently bought and sold shares of the business. SG Americas Securities LLC increased its holdings in US Xpress Enterprises by 30.4% during the 2nd quarter. SG Americas Securities LLC now owns 13,887 shares of the company’s stock valued at $83,000 after acquiring an additional 3,237 shares in the last quarter. Wells Fargo & Company MN increased its holdings in US Xpress Enterprises by 6.7% during the 1st quarter. Wells Fargo & Company MN now owns 53,372 shares of the company’s stock valued at $177,000 after acquiring an additional 3,365 shares in the last quarter. Strs Ohio increased its holdings in US Xpress Enterprises by 9.1% during the 2nd quarter. Strs Ohio now owns 73,400 shares of the company’s stock valued at $440,000 after acquiring an additional 6,100 shares in the last quarter. UBS Group AG grew its holdings in shares of US Xpress Enterprises by 46.5% during the fourth quarter. UBS Group AG now owns 24,770 shares of the company’s stock worth $124,000 after buying an additional 7,864 shares in the last quarter. Finally, Alliancebernstein L.P. grew its holdings in shares of US Xpress Enterprises by 42.3% during the first quarter. Alliancebernstein L.P. now owns 27,900 shares of the company’s stock worth $93,000 after buying an additional 8,300 shares in the last quarter. Hedge funds and other institutional investors own 35.74% of the company’s stock.

US Xpress Enterprises Company Profile

U.S. Xpress Enterprises, Inc operates as an asset-based truckload carrier providing services primarily in the United States. It operates through 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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Analyst Recommendations for US Xpress Enterprises (NYSE:USX)

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