YRC Worldwide, Inc. (YRCWD) was slapped with an emphatically bearish analyst note this morning. Morgan Keegan started coverage of the stock with a skeptical "underperform" rating, and then doled out a downright nihilistic price target of $0 on the trucking company. Most analysts are slightly less pessimistic toward YRCWD; Thomson Reuters pegs the stock's average 12-month price target at $5.50, compared to Monday's close at $4.58.
YRCWD has tumbled 2.4% ahead of the open, deepening its year-to-date decline of 78.2%. The stock has slipped consistently lower during the past couple of months, and its 10-week and 20-week moving averages are now on the verge of completing a bearish cross.
HIER WIRDs INTERESSANT
The equity is trading just south of the October 5 strike, which is home to peak call open interest of 3,820 contracts. With options expiration looming at the end of the week, the unwinding of hedges related to this open interest could create a headwind for YRCWD during the next several sessions.
Go YRCW!
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