Daseke (NASDAQ:DSKE) Rating Lowered to Hold at Zacks Investment Research

Zacks Investment Research lowered shares of Daseke (NASDAQ:DSKEGet Rating) from a buy rating to a hold rating in a research note issued to investors on Friday morning, Zacks.com reports.

According to Zacks, “Daseke, Inc. operates as a transportation company. It provides fleet management, logistics, trucking and open deck transportation services. Daseke, Inc., formerly known as Hennessy Capital Acquisition Corp. II, is based in Addison, United States. “

Shares of Daseke stock traded down $0.10 during trading hours on Friday, reaching $8.53. 178,948 shares of the company’s stock were exchanged, compared to its average volume of 446,095. The company has a 50 day moving average of $9.76 and a two-hundred day moving average of $10.01. Daseke has a fifty-two week low of $5.61 and a fifty-two week high of $13.17. The company has a current ratio of 1.64, a quick ratio of 1.65 and a debt-to-equity ratio of 3.88. The stock has a market cap of $541.23 million, a P/E ratio of 8.05 and a beta of 1.86.

Daseke (NASDAQ:DSKEGet Rating) last posted its earnings results on Tuesday, May 3rd. The company reported $0.18 earnings per share for the quarter, topping analysts’ consensus estimates of $0.12 by $0.06. Daseke had a return on equity of 68.94% and a net margin of 4.64%. During the same quarter last year, the firm posted $0.04 EPS. As a group, analysts expect that Daseke will post 1.02 earnings per share for the current fiscal year.

A number of institutional investors and hedge funds have recently modified their holdings of the business. BlackRock Inc. lifted its position in shares of Daseke by 0.8% during the 4th quarter. BlackRock Inc. now owns 2,943,062 shares of the company’s stock valued at $29,548,000 after acquiring an additional 23,111 shares during the period. State Street Corp boosted its position in Daseke by 37.1% during the fourth quarter. State Street Corp now owns 1,488,013 shares of the company’s stock valued at $14,940,000 after buying an additional 402,344 shares during the period. Assenagon Asset Management S.A. boosted its holdings in shares of Daseke by 78.8% during the first quarter. Assenagon Asset Management S.A. now owns 932,365 shares of the company’s stock worth $9,389,000 after purchasing an additional 410,880 shares during the period. Geode Capital Management LLC boosted its holdings in shares of Daseke by 0.4% during the fourth quarter. Geode Capital Management LLC now owns 886,644 shares of the company’s stock worth $8,901,000 after purchasing an additional 3,647 shares during the period. Finally, Royce & Associates LP raised its stake in Daseke by 5.2% in the first quarter. Royce & Associates LP now owns 826,345 shares of the company’s stock worth $8,321,000 after buying an additional 41,000 shares in the last quarter. 41.85% of the stock is owned by institutional investors and hedge funds.

About Daseke (Get Rating)

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

Further Reading

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