The stock of YRC Worldwide Inc. (NASDAQ:YRCW) is now priced at $4.22 and the shares are 0.05 points up or 1.2% higher compared to its previous closing price of $4.17. The stock had 1.136 million contracts set over the past session. YRCW shares’ daily volume is compared to its average trading volume at 0.004 billion shares. However, it has a float of 49.28 million and although its performance was -0.94% over the week, it’s one to watch. Analysts have given the YRCW stock a yearly average price target of $7 per share. It means the stock’s upside potential is 65.88% with the YRCW share price recently placing at $4.02 to $4.31. However, some brokerage firms have priced the stock below the average, including one that has called $4.
The shorts are running away from the YRC Worldwide Inc. stock, with the latest data on short interest released on August 14, 2020, showing that short interest numbers in the YRCW shares have declined. Short interest in the stock represents just 3.87% of its float, but the volume has dropped by -487736. The volume of shorted shares dropped to 1.91 million from 2.397 million shares over the last two weeks. The average intraday trading volume has been 2.833 million shares, which means that days to cover moved to roughly 1.
In the last trading session, YRC Worldwide Inc. (NASDAQ:YRCW) dropped by -$0.04 over the week and gained $1.15 on its 20-day. The stock’s high in the recent session is lower when compared to its 52-week high of $5.65. The stock recorded its established 52-week high on 08/21/20.
Since 04/08/20, the stock has traded to a low of $1.29 at 227.13%, an encouraging piece of data likely to interest most investors out to exploit the stock’s recent surge. The stock has a beta allocation of 3.43. Being above 1 means that the stock’s volatility is higher than the market and traders are keenly watching it.
Looking at current readings, YRC Worldwide Inc.’s two-week RSI is 55.01. This suggests that the stock is neutral at the moment and that YRCW shares’ price movement remains stable. The stochastic readings are equally revealing at 22.37% meaning the YRCW share price is currently in overbought territory.
The technical chart shows that the YRCW stock will likely settle at between $4.35 and $4.47 per share. However, if the stock dips below $4.06, then its market would become much weaker. Any downside could see the stock price sliding to levels as low as $3.89.
Currently, the stock is trading in the red of MACD, with a reading of -0.28. Investors always pay attention to any move above or below the zero-line, mainly because the indicator points to the position of the stock’s short-term average relative to its long-term measure. A MACD -a reading above the zero line means that the short-term is above the long-term average. This scenario implies that there is an upward momentum. The opposite is true when the MACD falls below the zero-line.
Analysts at Maxim Group assigned YRCW a rating of Hold in their resuming review released on August 25. Stifel analysts downgraded their recommendation of the stock from Buy to Hold in a flash note released to investors on November 09. Deutsche Bank seeing the improvements upgraded the stock from Hold to Buy on August 22, placing it at $13.
The average rating for the YRCW equity is 2.67 and is currently gathering a bullish momentum. Of 4 analysts tracking YRC Worldwide Inc. polled by Reuters, 3 rated YRCW as a hold. The remaining 1 analysts were split evenly. However, the split wasn’t equal as a majority (1) rated it as a buy or strong buy. 0 analyst advised investors against buying the stock or to sell if they own any of the stock.
The stocks P/S ratio currently stands below the group’s average of 47.2. YRC Worldwide Inc. has its P/E ratio at 0, which means that the stock is currently trading at a discount relative to the 3.2 industry average.
Zacks Consensus Estimate forecasts that the current-quarter revenues for YRC Worldwide Inc. (NASDAQ:YRCW) will increase by about 17.24%, which will see them reach $1190 million. The company’s full-year revenues are, however, expected to diminish by about -8.01%, down from $4870 million to $4480 million. YRCW’s expected adjusted earnings should drop almost -33.33% to end up at -$0.32 per share, while for the fiscal year, analysts project the company’s earnings to drop by about -49.2% to record -$1.59/share.