YRC Rises Most in Month on Buy Rating After Near-Collapse

Leslie Picker
Bloomberg
June 26, 2013

YRC Worldwide Inc. (YRCW), the trucker that escaped bankruptcy twice in the last four years, jumped the most in a month after Standpoint Research initiated coverage of the stock with the only buy rating.

YRC rose 15 percent to $25.70 at the close in New York, the biggest gain since May 15, after Standpoint’s Director of Research, Ronnie Moas, wrote in a note that shares could double by next year.

The trucker is poised to benefit as an improving economy boosts shipping volumes and management works to cut costs, Moas said. Before today, there were four sell and four hold recommendations on the stock among analysts’ ratings compiled by Bloomberg.

“The company was left for dead,” Moas said in a phone interview from Miami Beach, Florida. “They were on the brink of extermination. The gains you’ve seen today may be a drop in the bucket compared to what you’ll see in the next few years.”

YRC has surged more than threefold this year compared to a 17 percent gain in the Standard & Poor’s Supercomposite Trucking Index, which doesn’t include the Overland Park, Kansas-based company.

Get Advice Join TDU Donate

Recent News

United Nurses of Iowa Hold Rally Calling on Their Employer to Recognize their Union

Teamsters nurses and their supporters marched from the Iowa capitol to Unity Point Health Iowa Methodist Medical Center to demand that their union election be certified.

Corruption Officer Brings Charges against Joe Smith of Delaware Local 326

The Teamster Independent Investigations Officer (IIO) has issued a report recommending charges against Joe Smith, the principal officer of Delaware Local 326, for illegally driving union-owned cars for more than a decade after getting convicted of a DUI and for lying under oath during the investigation. 

View More News Posts