Yellow (NASDAQ:YELL) Raised to “Hold” at Zacks Investment Research

Yellow (NASDAQ:YELL) was upgraded by Zacks Investment Research from a “strong sell” rating to a “hold” rating in a research note issued to investors on Tuesday, Zacks.com reports.

According to Zacks, “Yellow Corporation provides comprehensive logistics and less-than-truckload networks in North America with local, regional, national and international. The company offers industry expertise in flexible supply chain solutions, ensuring customers can ship industrial, commercial and retail goods. It is the holding company for a portfolio of LTL brands including Holland, New Penn, Reddaway and YRC Freight, as well as the logistics company HNRY Logistics. Yellow Corporation, formerly known as YRC Worldwide Inc., is headquarted in OVERLAND PARK, Kan. “

Other equities research analysts have also issued reports about the company. Stephens raised their price objective on Yellow from $6.00 to $12.00 and gave the company an “equal weight” rating in a research note on Wednesday, April 7th. Vertical Research began coverage on Yellow in a research note on Thursday, April 1st. They issued a “buy” rating and a $15.00 price objective for the company.

NASDAQ YELL traded up $0.16 during trading on Tuesday, hitting $9.70. 26,092 shares of the stock traded hands, compared to its average volume of 1,336,422. The company has a 50-day moving average of $8.86. Yellow has a 12-month low of $1.38 and a 12-month high of $10.20.

Yellow (NASDAQ:YELL) last posted its quarterly earnings data on Thursday, February 4th. The company reported ($0.37) earnings per share (EPS) for the quarter, missing the consensus estimate of ($0.14) by ($0.23). The firm had revenue of $1.16 billion during the quarter, compared to analyst estimates of $1.16 billion.

In other Yellow news, CEO Darren Hawkins sold 100,000 shares of the firm’s stock in a transaction on Friday, March 12th. The stock was sold at an average price of $10.00, for a total transaction of $1,000,000.00. Following the transaction, the chief executive officer now directly owns 401,601 shares in the company, valued at approximately $4,016,010. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. Also, COO Thomas Joseph O’connor III sold 20,129 shares of the firm’s stock in a transaction on Friday, March 12th. The stock was sold at an average price of $10.02, for a total value of $201,692.58. Following the transaction, the chief operating officer now owns 185,695 shares in the company, valued at $1,860,663.90. The disclosure for this sale can be found here.

A number of institutional investors and hedge funds have recently added to or reduced their stakes in the business. Hennessy Advisors Inc. purchased a new position in Yellow during the 1st quarter worth $4,879,000. Private Advisor Group LLC purchased a new position in Yellow during the 1st quarter worth $2,201,000. Assenagon Asset Management S.A. purchased a new position in Yellow during the 1st quarter worth $550,000. Finally, Garnet Equity Capital Holdings Inc. purchased a new position in Yellow during the 1st quarter worth $220,000.

About Yellow

Yellow Corporation, through its subsidiaries, provides a range of transportation services primarily in North America. It primarily offers less-than-truckload (LTL) shipments and supply chain solutions. The company provides various services to transport industrial, commercial, and retail goods; next-day ground services; customer-specific logistics solutions, including truckload, residential, and warehouse solutions.

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