Zacks Investment Research Lowers P.A.M. Transportation Services (NASDAQ:PTSI) to Hold

Posted by on Jun 10th, 2022

P.A.M. Transportation Services (NASDAQ:PTSI – Get Rating) was downgraded by Zacks Investment Research from a “buy” rating to a “hold” rating in a report issued on Friday, Zacks.com reports.

According to Zacks, “P.A.M. Transportation Services, Inc. is an irregular route, common and contract motor carrier authorized to transport general commodities. The freight consists primarily of automotive parts, consumer goods, such as general retail store merchandise, and products from the manufacturing sector, such as heating and air conditioning units. All freight is transported as truckload quantities. “

Several other equities research analysts have also recently commented on PTSI. StockNews.com assumed coverage on shares of P.A.M. Transportation Services in a research report on Thursday, March 31st. They issued a “strong-buy” rating on the stock. Stephens lowered their target price on shares of P.A.M. Transportation Services from $42.50 to $40.00 in a research note on Friday, April 1st.

Shares of NASDAQ:PTSI opened at $28.69 on Friday. The company has a market capitalization of $638.78 million, a P/E ratio of 7.36 and a beta of 1.52. The company has a quick ratio of 2.12, a current ratio of 2.13 and a debt-to-equity ratio of 0.87. P.A.M. Transportation Services has a 52-week low of $12.94 and a 52-week high of $40.88. The stock’s fifty day simple moving average is $28.42 and its 200-day simple moving average is $42.03.

A number of institutional investors and hedge funds have recently modified their holdings of the business. Dimensional Fund Advisors LP increased its position in shares of P.A.M. Transportation Services by 98.2% during the 1st quarter. Dimensional Fund Advisors LP now owns 1,446,756 shares of the transportation company’s stock valued at $50,276,000 after purchasing an additional 716,798 shares during the last quarter. Renaissance Technologies LLC raised its stake in shares of P.A.M. Transportation Services by 94.0% during the first quarter. Renaissance Technologies LLC now owns 1,245,808 shares of the transportation company’s stock valued at $43,292,000 after acquiring an additional 603,798 shares during the last quarter. BlackRock Inc. boosted its stake in shares of P.A.M. Transportation Services by 97.9% during the 1st quarter. BlackRock Inc. now owns 514,567 shares of the transportation company’s stock valued at $17,883,000 after purchasing an additional 254,574 shares in the last quarter. Vanguard Group Inc. lifted its position in P.A.M. Transportation Services by 96.0% in the 1st quarter. Vanguard Group Inc. now owns 296,876 shares of the transportation company’s stock valued at $10,316,000 after acquiring an additional 145,392 shares in the last quarter. Finally, Pacific Ridge Capital Partners LLC grew its position in P.A.M. Transportation Services by 74.9% in the 1st quarter. Pacific Ridge Capital Partners LLC now owns 131,154 shares of the transportation company’s stock worth $4,558,000 after purchasing an additional 56,182 shares during the period. 11.38% of the stock is owned by hedge funds and other institutional investors.

P.A.M. Transportation Services Company Profile (Get Rating)

P.A.M. Transportation Services, Inc, through its subsidiaries, operates as a truckload transportation and logistics company in the United States, Mexico, and Canada. The company operates a truckload dry van carrier that transports general commodities. Its freight primarily consists of automotive parts; expedited goods; consumer goods, such as general retail store merchandise; and manufactured goods, including heating and air conditioning units.

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