Zacks Investment Research upgraded shares of Student Transportation Inc (NASDAQ:STB) (TSE:STB) from a hold rating to a buy rating in a research note released on Friday morning. Zacks Investment Research currently has $6.75 price objective on the transportation company’s stock.
According to Zacks, “Student Transportation Inc. provides school bus transportation services in the United States and Canada. Its services are delivered by drivers, dispatchers, maintenance technicians and terminal managers. Student Transportation Inc., formerly known as Student Transportation of America, Ltd., is based in Barrie, Canada. “
Several other analysts also recently commented on STB. BidaskClub raised shares of Student Transportation from a hold rating to a buy rating in a report on Friday, September 8th. National Bank Financial downgraded shares of Student Transportation from an outperform rating to a sector perform rating in a report on Friday, June 2nd. Two analysts have rated the stock with a hold rating and three have given a buy rating to the company. The stock presently has an average rating of Buy and an average price target of $6.63.
Student Transportation (NASDAQ:STB) traded up 0.86% on Friday, reaching $5.86. 270,548 shares of the company’s stock traded hands. The stock has a 50 day moving average price of $5.91 and a 200 day moving average price of $5.89. The stock has a market cap of $553.96 million, a price-to-earnings ratio of 76.10 and a beta of 0.75. Student Transportation has a 12-month low of $5.39 and a 12-month high of $6.21.
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The firm also recently disclosed a monthly dividend, which will be paid on Wednesday, November 15th. Stockholders of record on Tuesday, October 31st will be issued a $0.0367 dividend. This represents a $0.44 annualized dividend and a dividend yield of 7.51%. The ex-dividend date of this dividend is Monday, October 30th. Student Transportation’s dividend payout ratio (DPR) is currently 488.89%.
Student Transportation announced that its board has approved a stock repurchase plan on Friday, May 19th that allows the company to repurchase 9,230,000 outstanding shares. This repurchase authorization allows the transportation company to purchase shares of its stock through open market purchases. Shares repurchase plans are often a sign that the company’s board of directors believes its shares are undervalued.
Hedge funds have recently added to or reduced their stakes in the company. CIBC World Markets Inc. boosted its holdings in shares of Student Transportation by 21.7% in the 2nd quarter. CIBC World Markets Inc. now owns 2,739,930 shares of the transportation company’s stock valued at $16,618,000 after acquiring an additional 487,641 shares during the last quarter. EJF Capital LLC acquired a new position in shares of Student Transportation in the 1st quarter valued at $292,000. Global X Management Co. LLC acquired a new position in shares of Student Transportation in the 1st quarter valued at $8,006,000. Trexquant Investment LP lifted its stake in shares of Student Transportation by 85.3% in the 1st quarter. Trexquant Investment LP now owns 39,600 shares of the transportation company’s stock valued at $232,000 after purchasing an additional 18,226 shares during the period. Finally, Renaissance Technologies LLC lifted its stake in shares of Student Transportation by 10.1% in the 1st quarter. Renaissance Technologies LLC now owns 1,485,671 shares of the transportation company’s stock valued at $8,706,000 after purchasing an additional 136,427 shares during the period. 25.70% of the stock is currently owned by institutional investors and hedge funds.
Student Transportation Company Profile
Student Transportation Inc is a Canada-based company engaged in providing school bus transportation services in North America. The Company provides school bus and management services to public and private schools in North America and offers services, such as contracted services, special needs transportation, charter services, direct to parent and used bus sales.
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