Sterne Agee Reiterates Quality Distribution Buy
Sterne Agee reiterated its Quality Distribution (NASDAQ: QLTY) Buy rating in a research report published today. Sterne Agee has previously given Quality Distribution a $16 price target.
In the report, Sterne Agee states, "The company is the #1 bulk chemical carrier in the U.S., and over this past cycle, has transformed from an asset-based cyclical stock into an asset-light transactional model. This shift has resulted in more consistent EPS growth and higher ROIs, but this has not yet been reflected in the multiples paid for the shares, which average about 30-40% higher for non-asset based transport names."
Shares of Quality Distribution were trading $13.10, up 0.61% from Thursday's market close.
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Tags: Sterne Agee & Leach