Amerco (UHAL) Sees Strong Trading Volume
Amerco (NASDAQ:UHAL) shares saw an uptick in trading volume on Thursday . 82,421 shares were traded during trading, an increase of 46% from the previous session’s volume of 56,390 shares.The stock last traded at $350.80 and had previously closed at $349.04.
Separately, CL King downgraded Amerco from a “strong-buy” rating to a “buy” rating and lowered their price target for the company from $449.00 to $405.00 in a research report on Friday, August 5th.
The firm has a market cap of $6.88 billion and a P/E ratio of 14.78. The stock’s 50 day moving average is $378.32 and its 200 day moving average is $359.27.
Amerco (NASDAQ:UHAL) last announced its quarterly earnings results on Wednesday, August 3rd. The company reported $7.51 earnings per share for the quarter, missing analysts’ consensus estimates of $8.72 by $1.21. The firm had revenue of $923.40 million for the quarter, compared to the consensus estimate of $941.32 million. The firm’s quarterly revenue was up 4.4% on a year-over-year basis. During the same quarter last year, the company posted $8.74 earnings per share. On average, analysts predict that Amerco will post $23.64 EPS for the current year.
In related news, Director Daniel Robert Mullen sold 2,000 shares of the business’s stock in a transaction on Wednesday, June 15th. The shares were sold at an average price of $367.00, for a total value of $734,000.00. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this link. Also, major shareholder James P. Shoen sold 30,000 shares of the business’s stock in a transaction on Thursday, June 30th. The shares were sold at an average price of $375.28, for a total transaction of $11,258,400.00. The disclosure for this sale can be found here.
A number of large investors recently bought and sold shares of UHAL. New York State Common Retirement Fund boosted its stake in Amerco by 17.1% in the fourth quarter. New York State Common Retirement Fund now owns 29,500 shares of the company’s stock valued at $11,490,000 after buying an additional 4,313 shares in the last quarter. Mizuho Trust & Banking Co. Ltd. bought a new stake in Amerco during the fourth quarter valued at approximately $3,624,000. Gulf International Bank UK Ltd bought a new stake in Amerco during the fourth quarter valued at approximately $1,005,000. Morgan Stanley boosted its stake in Amerco by 51.2% in the fourth quarter. Morgan Stanley now owns 44,856 shares of the company’s stock valued at $17,471,000 after buying an additional 15,180 shares in the last quarter. Finally, Wells Fargo & Company MN boosted its stake in Amerco by 4.2% in the fourth quarter. Wells Fargo & Company MN now owns 65,743 shares of the company’s stock valued at $25,606,000 after buying an additional 2,679 shares in the last quarter.
AMERCO is a do-it-yourself moving and storage operator through its subsidiary U-Haul International, Inc (U-Haul). The Company supplies products and services to help people move and store their household and commercial goods. It operates through three segments: Moving and Storage, Property and Casualty Insurance, and Life Insurance.
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