U-Haul (NASDAQ:UHAL) Trading Down 11.4% – Here’s What Happened

Shares of U-Haul Holding (NASDAQ:UHAL) were down 11.4% during mid-day trading on Thursday . The stock traded as low as $52.28 and last traded at $52.3210. Approximately 71,065 shares were traded during trading, a decline of 59% from the average daily volume of 174,733 shares. The stock had previously closed at $59.04.

Analyst Upgrades and Downgrades

Separately, Vertical Research set a $80.00 target price on shares of U-Haul and gave the stock a “buy” rating in a research note on Monday, November 3rd. One investment analyst has rated the stock with a Buy rating and one has assigned a Hold rating to the stock. Based on data from MarketBeat, U-Haul has a consensus rating of “Moderate Buy” and an average target price of $80.00.

U-Haul Stock Down 13.8%

The stock has a market capitalization of $9.98 billion, a price-to-earnings ratio of 23.57 and a beta of 1.13. The firm has a 50-day moving average of $54.11 and a 200 day moving average of $55.50. The company has a debt-to-equity ratio of 0.89, a current ratio of 2.03 and a quick ratio of 1.83.

Institutional Investors Weigh In On U-Haul

A number of institutional investors and hedge funds have recently modified their holdings of UHAL. ArrowMark Colorado Holdings LLC grew its holdings in U-Haul by 108.2% during the third quarter. ArrowMark Colorado Holdings LLC now owns 157,800 shares of the transportation company’s stock worth $9,006,000 after purchasing an additional 82,000 shares during the period. Two Sigma Investments LP boosted its stake in shares of U-Haul by 64.3% during the 3rd quarter. Two Sigma Investments LP now owns 174,120 shares of the transportation company’s stock worth $9,937,000 after acquiring an additional 68,150 shares during the period. Tudor Investment Corp ET AL boosted its stake in shares of U-Haul by 167.3% during the 3rd quarter. Tudor Investment Corp ET AL now owns 95,393 shares of the transportation company’s stock worth $5,444,000 after acquiring an additional 59,699 shares during the period. Gotham Asset Management LLC bought a new position in shares of U-Haul during the 3rd quarter worth approximately $1,611,000. Finally, Parkwood LLC increased its holdings in shares of U-Haul by 12.4% during the 3rd quarter. Parkwood LLC now owns 135,872 shares of the transportation company’s stock worth $7,754,000 after acquiring an additional 14,964 shares during the last quarter. 3.63% of the stock is owned by institutional investors.

About U-Haul

U-Haul International, operating under its parent company AMERCO (NASDAQ: UHAL), is a leading provider of do-it-yourself moving and storage solutions in North America. Established in 1945 by Leonard Shoen, the company has grown from a regional rental business in Ridgefield, Washington, into a broad network of thousands of locations across the United States and Canada. U-Haul’s core offering centers on one-way and local truck and trailer rentals tailored to the needs of both individual and commercial customers.

In addition to its fleet of rental trucks and trailers, U-Haul offers a comprehensive range of moving and storage products.