Roadrunner Transportation Systems (NYSE:RRTS) Downgraded by Zacks Investment Research

Zacks Investment Research lowered shares of Roadrunner Transportation Systems (NYSE:RRTS) from a hold rating to a sell rating in a report issued on Thursday, 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. “

A number of other research analysts have also recently issued reports on RRTS. Stifel Nicolaus set a $14.00 target price on Roadrunner Transportation Systems and gave the company a hold rating in a research report on Tuesday, May 28th. ValuEngine cut Zosano Pharma from a buy rating to a hold rating in a research report on Wednesday, May 1st.

Roadrunner Transportation Systems stock opened at $11.46 on Thursday. Roadrunner Transportation Systems has a 12-month low of $7.97 and a 12-month high of $70.50. The company has a debt-to-equity ratio of 0.83, a quick ratio of 1.07 and a current ratio of 1.07. The company has a 50-day simple moving average of $9.51. The company has a market capitalization of $403.86 million, a PE ratio of -0.11 and a beta of 1.51.

Roadrunner Transportation Systems (NYSE:RRTS) last released its earnings results on Tuesday, May 7th. The transportation company reported ($1.58) earnings per share (EPS) for the quarter. Roadrunner Transportation Systems had a negative net margin of 7.85% and a negative return on equity of 170.50%. The business had revenue of $507.15 million during the quarter, compared to the consensus estimate of $569.00 million. Research analysts forecast that Roadrunner Transportation Systems will post -0.5 earnings per share for the current year.

In other Roadrunner Transportation Systems news, major shareholder International L.P. Elliott bought 2,860 shares of the firm’s stock in a transaction on Monday, July 1st. The shares were purchased at an average price of $10.13 per share, for a total transaction of $28,971.80. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. In the last quarter, insiders acquired 37,264 shares of company stock worth $336,004. Company insiders own 0.72% of the company’s stock.

Large investors have recently added to or reduced their stakes in the company. SG3 Management LLC bought a new stake in shares of Roadrunner Transportation Systems during the first quarter worth about $11,235,000. Amica Retiree Medical Trust grew its holdings in shares of Roadrunner Transportation Systems by 2,313.8% during the first quarter. Amica Retiree Medical Trust now owns 1,923,384 shares of the transportation company’s stock worth $808,000 after purchasing an additional 1,843,701 shares during the last quarter. Finally, Elliott Management Corp grew its holdings in shares of Roadrunner Transportation Systems by 58.4% during the fourth quarter. Elliott Management Corp now owns 5,242,855 shares of the transportation company’s stock worth $2,601,000 after purchasing an additional 1,932,372 shares during the last quarter.

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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