Daseke (NASDAQ:DSKE) Cut to “Hold” at Craig Hallum

Daseke (NASDAQ:DSKE) was downgraded by Craig Hallum from a “buy” rating to a “hold” rating in a research note issued on Monday, The Fly reports.

DSKE has been the subject of a number of other reports. Cowen reiterated a “buy” rating and issued a $6.50 price target on shares of Daseke in a research note on Monday, May 6th. ValuEngine raised Daseke from a “sell” rating to a “hold” rating in a report on Wednesday, June 12th. Northland Securities assumed coverage on Daseke in a report on Tuesday, May 21st. They issued a “buy” rating and a $8.50 target price on the stock. Zacks Investment Research lowered Daseke from a “hold” rating to a “strong sell” rating in a report on Monday, June 24th. Finally, BidaskClub lowered Daseke from a “hold” rating to a “sell” rating in a report on Friday, June 21st. Two research analysts have rated the stock with a sell rating, two have given a hold rating and three have issued a buy rating to the stock. Daseke currently has a consensus rating of “Hold” and an average price target of $7.50.

DSKE traded down $1.01 during midday trading on Monday, reaching $2.52. The company had a trading volume of 59,996 shares, compared to its average volume of 173,717. The company has a current ratio of 1.34, a quick ratio of 1.34 and a debt-to-equity ratio of 1.69. The company has a market capitalization of $227.97 million, a PE ratio of 3.95 and a beta of 1.10. Daseke has a 12-month low of $3.13 and a 12-month high of $9.82. The business’s 50-day moving average price is $3.68.

Daseke (NASDAQ:DSKE) last released its earnings results on Monday, August 5th. The company reported ($0.12) earnings per share for the quarter, missing the Zacks’ consensus estimate of ($0.07) by ($0.05). Daseke had a negative net margin of 0.80% and a positive return on equity of 5.50%. The company had revenue of $450.60 million during the quarter, compared to analysts’ expectations of $459.30 million. During the same quarter in the previous year, the firm earned $0.20 earnings per share. The firm’s revenue was up 19.6% compared to the same quarter last year. Analysts anticipate that Daseke will post -0.36 EPS for the current year.

A number of institutional investors and hedge funds have recently made changes to their positions in DSKE. Freestone Capital Holdings LLC raised its position in shares of Daseke by 28.1% in the 2nd quarter. Freestone Capital Holdings LLC now owns 22,770 shares of the company’s stock valued at $82,000 after purchasing an additional 5,000 shares during the last quarter. Zazove Associates LLC lifted its stake in Daseke by 3,804.2% during the second quarter. Zazove Associates LLC now owns 4,428,325 shares of the company’s stock worth $408,000 after purchasing an additional 4,314,900 shares during the last quarter. Wittenberg Investment Management Inc. lifted its stake in Daseke by 0.7% during the second quarter. Wittenberg Investment Management Inc. now owns 688,470 shares of the company’s stock worth $2,478,000 after purchasing an additional 4,800 shares during the last quarter. Timucuan Asset Management Inc. FL purchased a new stake in Daseke during the first quarter worth approximately $153,000. Finally, Kennedy Capital Management Inc. lifted its stake in Daseke by 9.4% during the first quarter. Kennedy Capital Management Inc. now owns 475,496 shares of the company’s stock worth $2,420,000 after purchasing an additional 40,792 shares during the last quarter. 33.00% of the stock is owned by institutional investors and hedge funds.

About Daseke

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

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