Zacks Investment Research downgrades PAM Transportation Services (NASDAQ:PTSI) to hold

PAM Transportation Services (NASDAQ:PTSI – Get Assessment) was downgraded by Zacks Investment Research from a “buy” rating to a “hold” rating in a report released on Friday, Zacks.com reports.

According to Zacks, “PAM Transportation Services, Inc. is an irregular, common, contract motor carrier licensed to transport general cargo. 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 goods are transported in truckload quantities.”

Several other equity research analysts have also recently commented on PTSI. StockNews.com took over coverage of PAM Transportation Services stocks in a Thursday, March 31 research report. They issued a “Strong Buy” rating on the stock. Stephens lowered his target price on shares of PAM Transportation Services from $42.50 to $40.00 in a Friday, April 1 research note.

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NASDAQ:PTSI shares 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 ratio of 0.87. PAM Transportation Services has a 52-week minimum of $12.94 and a 52-week maximum 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 changed their holdings in the company. Dimensional Fund Advisors LP increased its position in PAM Transportation Services shares by 98.2% during the first quarter. Dimensional Fund Advisors LP now owns 1,446,756 shares of the transportation company valued at $50,276,000 after buying an additional 716,798 shares in the last quarter. Renaissance Technologies LLC increased its stake in the shares of PAM Transportation Services by 94.0% during the first quarter. Renaissance Technologies LLC now owns 1,245,808 shares of the transportation company valued at $43,292,000 after acquiring an additional 603,798 shares in the last quarter. BlackRock Inc. increased its stake in shares of PAM Transportation Services by 97.9% during the 1st quarter. BlackRock Inc. now owns 514,567 shares of the transportation company valued at $17,883,000 after buying an additional 254,574 shares last quarter. Vanguard Group Inc. increased its position in PAM Transportation Services by 96.0% in the 1st quarter. Vanguard Group Inc. now owns 296,876 shares of the transportation company valued at $10,316,000 after acquiring an additional 145,392 shares last quarter. Finally, Pacific Ridge Capital Partners LLC increased its position in PAM Transportation Services by 74.9% in the 1st quarter. Pacific Ridge Capital Partners LLC now owns 131,154 shares of the transportation company worth $4,558,000 after purchasing an additional 56,182 shares during the period. 11.38% of the shares are held by hedge funds and other institutional investors.

Company Profile PAM Transportation Services (Get an assessment)

PAM 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 dry van carrier that transports general cargo. Its cargo consists mainly of auto parts; goods shipped; consumer goods, such as general merchandise from retail stores; and manufactured goods, including heaters and air conditioners.

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