CL King Downgrades AMERCO to Buy

Brokerage firm CL King Downgrades its rating on AMERCO(NASDAQ:UHAL). The shares have been rated Buy. Previously, the analysts had a Strong Buy rating on the shares. The rating by CL King was issued on Aug 5, 2016.

AMERCO (UHAL) made into the market gainers list on Wednesdays trading session with the shares advancing 1.06% or 3.66 points. Due to strong positive momentum, the stock ended at $348.87, which is also near the day’s high of $349. The stock began the session at $343.25 and the volume stood at 66,257 shares. The 52-week high of the shares is $436.89 and the 52 week low is $305.6601. The company has a current market capitalization of $6,841 M and it has 1,96,07,788 shares in outstanding.

AMERCO(UHAL) last announced its earnings results on Aug 3, 2016 for Fiscal Year 2017 and Q1.Company reported revenue of $923.41M. Analysts had an estimated revenue of $941.32M. Earnings per share were $7.51. Analysts had estimated an EPS of $8.72.

Several Insider Transactions has been reported to the SEC. On Jul 5, 2016, James P Shoen (10% owner) sold 30,000 shares at $375.27 per share price.Also, On Jun 16, 2016, Daniel Robert Mullen (director) sold 2,000 shares at $367.00 per share price.On Feb 3, 2016, Mark V Shoen (10% owner) sold 3,786,765 shares at $431.83 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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