Shares of USA Truck Upgraded
by October 28, 2002 12:00 am 74 views
Little Rock securities firm Stephens Inc. on Oct. 22 upgraded shares of USA Truck. Inc.
Stephens upgraded shares of the Van Buren trucking firm to “equal-weight” from “underweight.”
Stephens said it upgraded shares based on the company’s current relative valuation. It also cited increased prospects of benefiting from a capacity-constrained industry in an improving freight environment.
The investment firm set a price target for USA shares at $9.
Last week, the trucking company reported that strong freight demand helped it more than double third-quarter 2001 earnings. For the third quarter of 2002, the company reported income of $1.27 million, or 14 cents per share, compared with $589,287, or 6 cents per share, during the third quarter of 2001.
The company beat analyst expectations by about two cents per share. n