Daseke (NASDAQ:DSKE) Upgraded to Buy by ValuEngine

ValuEngine upgraded shares of Daseke (NASDAQ:DSKE) from a hold rating to a buy rating in a research note released on Friday, ValuEngine reports.

Several other equities research analysts have also issued reports on the stock. Cowen reaffirmed a buy rating and set a $6.50 price target on shares of Daseke in a report on Monday, May 6th. BidaskClub downgraded shares of Daseke from a hold rating to a sell rating in a research report on Friday, June 21st. Northland Securities assumed coverage on shares of Daseke in a research report on Tuesday, May 21st. They set a buy rating and a $8.50 target price on the stock. Zacks Investment Research downgraded shares of Daseke from a hold rating to a strong sell rating in a research report on Monday, June 24th. Finally, Craig Hallum downgraded shares of Daseke from a buy rating to a hold rating in a research report on Monday, August 5th. Two investment analysts have rated the stock with a sell rating, one has issued a hold rating and four have assigned a buy rating to the company. Daseke currently has a consensus rating of Hold and a consensus target price of $7.50.

Shares of Daseke stock traded up $0.12 during midday trading on Friday, hitting $1.87. 699,500 shares of the company traded hands, compared to its average volume of 325,486. The stock has a market cap of $129.81 million, a price-to-earnings ratio of 2.92 and a beta of 1.10. The company has a debt-to-equity ratio of 1.74, a quick ratio of 1.41 and a current ratio of 1.41. The firm’s fifty day moving average price is $3.26 and its 200-day moving average price is $4.37. Daseke has a 12 month low of $1.56 and a 12 month high of $9.78.

Daseke (NASDAQ:DSKE) last announced its quarterly earnings results on Monday, August 5th. The company reported ($0.12) earnings per share (EPS) for the quarter, missing the consensus estimate of ($0.07) by ($0.05). The company had revenue of $450.60 million for the quarter, compared to the consensus estimate of $459.30 million. Daseke had a negative net margin of 1.87% and a positive return on equity of 0.39%. The company’s revenue for the quarter was up 19.6% compared to the same quarter last year. During the same period last year, the firm posted $0.20 earnings per share. Equities research analysts forecast that Daseke will post -0.51 earnings per share for the current year.

In other Daseke news, COO Christopher R. Easter bought 20,000 shares of the business’s stock in a transaction that occurred on Wednesday, August 7th. The shares were acquired at an average cost of $2.17 per share, for a total transaction of $43,400.00. The purchase was disclosed in a document filed with the SEC, which is available through the SEC website. Also, Director Mark Sinclair bought 15,000 shares of the business’s stock in a transaction that occurred on Wednesday, August 7th. The shares were acquired at an average price of $2.25 per share, for a total transaction of $33,750.00. The disclosure for this purchase can be found here. 29.71% of the stock is owned by company insiders.

A number of large investors have recently bought and sold shares of the stock. Public Employees Retirement System of Ohio lifted its position in shares of Daseke by 101.8% in the 2nd quarter. Public Employees Retirement System of Ohio now owns 11,579 shares of the company’s stock worth $42,000 after purchasing an additional 5,842 shares during the period. BNP Paribas Arbitrage SA lifted its position in shares of Daseke by 447.9% in the 1st quarter. BNP Paribas Arbitrage SA now owns 8,537 shares of the company’s stock worth $43,000 after purchasing an additional 6,979 shares during the period. Jane Street Group LLC acquired a new position in shares of Daseke in the 2nd quarter worth approximately $57,000. Zurcher Kantonalbank Zurich Cantonalbank lifted its position in shares of Daseke by 278.5% in the 1st quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 14,489 shares of the company’s stock worth $74,000 after purchasing an additional 10,661 shares during the period. Finally, SG Americas Securities LLC acquired a new position in shares of Daseke in the 1st quarter worth approximately $75,000. Institutional investors and hedge funds own 32.92% of the company’s stock.

About Daseke

Daseke, Inc provides transportation and logistics solutions with a focus on flatbed and specialized freight in North America. It operates through two segments, Flatbed Solutions and Specialized Solutions. The company transports aircraft parts, manufacturing equipment, structural steel, pressure vessels, wind turbine blades, heavy machinery, commercial glass, high security cargo, arms, ammunition and explosives, lumber, and building and construction materials.

Further Reading: Reverse Stock Split

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