AMERCO (UHAL) is Downgraded by CL King to Buy

AMERCO (UHAL) was Downgraded by CL King to ” Buy”. Earlier the firm had a rating of “Strong Buy ” on the company shares. CL King advised their investors in a research report released on Aug 5, 2016.

On the company’s financial health, AMERCO reported $7.51 EPS for the quarter, missing the analyst consensus estimate by $ -1.21 based on the information available during the earnings call on Aug 3, 2016. Analyst had a consensus of $8.72. The company had revenue of $923.40 million for the quarter, compared to analysts expectations of $941.32 million. The company’s revenue was up 4.4% compared to the same quarter last year. During the same quarter in the previous year, the company posted $8.74 EPS.

AMERCO closed down -36.02 points or -9.11% at $359.5 with 1,75,428 shares getting traded on Thursday. Post opening the session at $376.63, the shares hit an intraday low of $357.03 and an intraday high of $386.62 and the price fluctuated in this range throughout the day.Shares ended Thursday session in Red.

In a different news, on Jun 16, 2016, Daniel Robert Mullen (director) sold 2,000 shares at $367.00 per share price. According to the SEC, on Feb 3, 2016, Edward J Shoen (Chairman, President) sold 3,433,772 shares at $431.83 per share price. On Sep 4, 2015, Charles J Bayer (director) sold 1,200 shares at $368.00 per share price, according to the Form-4 filing with the securities and exchange commission.

AMERCO is a do-it-yourself moving and storage operator through its subsidiary U-Haul International Inc. (U-Haul). The Company supplies products and services to help people move and store their household and commercial goods. It operates through three segments: Moving and Storage Property and Casualty Insurance and Life Insurance. The Moving and Storage segment consists of AMERCO U-Haul and Real Estate and the subsidiaries of U-Haul and Real Estate. It consists of the rental of trucks trailers portable moving and storage unit specialty rental items and self-storage spaces primarily to the household mover and sales of moving supplies towing accessories and propane. The Property and Casualty Insurance segment consists of Repwest and its subsidiaries and ARCOA. It provides loss adjusting and claims handling for U-Haul through regional offices across North America. The Life Insurance segment consists of Oxford and its subsidiaries and provides life and health insurance products.


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