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

U-Haul Holding (NASDAQ:UHAL)’s share price was 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 traded hands during trading, a decline of 59% from the average daily volume of 174,733 shares. The stock had previously closed at $59.04.

Analysts Set New Price Targets

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

U-Haul Stock Performance

The company has a debt-to-equity ratio of 0.89, a current ratio of 2.03 and a quick ratio of 1.83. The stock’s 50-day moving average price is $54.11 and its 200-day moving average price is $55.50. The company has a market cap of $9.98 billion, a P/E ratio of 23.57 and a beta of 1.13.

Institutional Investors Weigh In On U-Haul

Institutional investors have recently made changes to their positions in the stock. Legacy Capital Group California Inc. increased its stake in U-Haul by 4.4% during the 4th quarter. Legacy Capital Group California Inc. now owns 4,801 shares of the transportation company’s stock worth $242,000 after acquiring an additional 204 shares during the period. Ameritas Advisory Services LLC bought a new position in shares of U-Haul in the second quarter worth $33,000. Belpointe Asset Management LLC raised its stake in U-Haul by 11.6% in the third quarter. Belpointe Asset Management LLC now owns 6,910 shares of the transportation company’s stock valued at $394,000 after purchasing an additional 721 shares in the last quarter. Parkwood LLC lifted its position in U-Haul by 2.0% during the second quarter. Parkwood LLC now owns 120,908 shares of the transportation company’s stock worth $7,322,000 after purchasing an additional 2,362 shares during the period. Finally, State of Wyoming bought a new stake in U-Haul during the third quarter worth about $173,000. 3.63% of the stock is currently owned by institutional investors.

U-Haul Company Profile

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.