U-Haul (NYSE:UHAL) Shares Gap Down – Here’s What Happened

U-Haul Holding Company (NYSE:UHAL) shares gapped down before the market opened on Wednesday . The stock had previously closed at $67.19, but opened at $63.52. U-Haul shares last traded at $63.4840, with a volume of 864 shares trading hands.

Wall Street Analyst Weigh In

Several brokerages have recently commented on UHAL. Citigroup initiated coverage on shares of U-Haul in a report on Wednesday, July 15th. They issued an “outperform” rating on the stock. Citizens Jmp assumed coverage on shares of U-Haul in a report on Wednesday, July 15th. They issued a “mkt outperform” rating and a $90.00 target price for the company. Wall Street Zen raised U-Haul from a “sell” rating to a “hold” rating in a research report on Saturday, August 8th. Finally, Weiss Ratings upgraded U-Haul from a “sell (d)” rating to a “sell (d+)” rating in a research note on Friday, July 24th. One analyst has rated the stock with a Strong Buy rating, one has issued a Buy rating and one has given a Sell rating to the company’s stock. According to data from MarketBeat, the stock has an average rating of “Moderate Buy” and a consensus target price of $85.00.

U-Haul Price Performance

The firm has a market cap of $12.32 billion, a price-to-earnings ratio of 452.80 and a beta of 1.08. The company has a quick ratio of 1.57, a current ratio of 1.77 and a debt-to-equity ratio of 1.04. The company’s 50-day moving average price is $70.21 and its 200-day moving average price is $59.06.

U-Haul (NYSE:UHAL) last posted its quarterly earnings data on Wednesday, August 5th. The company reported $0.58 EPS for the quarter, missing the consensus estimate of $0.85 by ($0.27). U-Haul had a net margin of 1.05% and a return on equity of 0.81%. The business had revenue of $1.68 billion during the quarter. On average, equities research analysts forecast that U-Haul Holding Company will post 1.09 EPS for the current year.

Institutional Trading of U-Haul

Several hedge funds have recently modified their holdings of UHAL. CX Institutional purchased a new position in U-Haul in the second quarter valued at $56,000. Brevan Howard Capital Management LP purchased a new stake in U-Haul during the 3rd quarter worth about $218,000. Shay Capital LLC acquired a new stake in U-Haul in the 3rd quarter valued at about $257,000. Occudo Quantitative Strategies LP acquired a new stake in U-Haul in the 3rd quarter valued at about $349,000. Finally, Clearbridge Investments LLC boosted its stake in shares of U-Haul by 28.8% in the 4th quarter. Clearbridge Investments LLC now owns 6,700 shares of the company’s stock valued at $338,000 after buying an additional 1,500 shares during the period. 3.63% of the stock is currently owned by institutional investors and hedge funds.

About U-Haul

U-Haul is a moving and storage services brand operated by AMERCO (NYSE: UHAL). The company provides do-it-yourself moving solutions, including rental trucks, trailers and towing equipment for household and commercial relocations. Its offerings are supported by moving supplies such as boxes, packing materials and related equipment.

U-Haul also operates self-storage facilities and offers portable moving and storage through its U-Box service. Customers can arrange for U-Box containers to be delivered, stored and transported, providing an alternative to traditional truck-based moves.