Investors are almost always interested in companies that have managed to make a comeback from the brink and on that note, it may be a good time to perhaps take a look at Roadrunner Transportation Systems Inc (OTCMKTS:RRTS), the service first less than truckload (LTL) carrier. The company has seen its stock perform fairly strongly in recent days and it continued on Thursday as it ended up with gains of 3%. That took the gains made by the Roadrunner stock over the course of the past week to as much as 15%.
Trading Data
On Thursday, RRTS stock moved up 3.40% to $3.05 with 1.3K shares, compared to its average volume of 2K shares. The stock moved within a range of $2.9500 – 3.1000 after opening trade at $2.95.
About The Company
Roadrunner Transportation Systems had actually been in the doldrums not too long ago but after it brought in a new management team, new technologies, and a whole new network, its fortunes change dramatically. Roadrunner is now a company that is well known for providing LTL services of the highest quality and hence, it remains a turnaround story that may intrigue many investors.
The company is a specialist in metro long-haul shipping and operates more service routes than its competitors. Hence, it is well-known for providing a better quality of service and consequently better value to its customers.
Roadrunner Grows Metro-to-Metro LTL Service Network – Adds Five New Direct Lanes and Improves Transit Times in 66 Lanes
Yesterday, Roadrunner was in the news after it announced that it had added five more lanes to its service network. This step could prove to be a significant one for the company’s customers since it is all set to improve transit times by as much as one day on the major lanes operated by Roadrunner. It comes as a follow-up of other major improvements that had been made by the company earlier this year.
The company is nowadays known for being committed to making continuous improvements to its network through new technology, improvements to its service center, and rigorous training. These improvements have led to a direct and tangible effect since it has brought about faster delivery times to its customers. Additionally, the customers have now got access to a higher number of direct lanes than before. The turnaround story has been nothing short of dramatic and it is going to be interesting to see if the stock can add to its gains today.
Key Quote
“This improvement arrives just in time for summer to benefit our many customers,” said Roadrunner President Frank Hurst. “We are proud to announce these changes. Service is our #1 priority. We’ve spent the last two years overhauling our network to make sure we only operate in lanes where we can provide service and quality. As a result, we’ve seen our on-time service percentage increase dramatically across the network. This is the second time this year we’ve sped up our network and reduced transit times, and we’re not stopping here.”
Technical Data
RRTS stock is trading above the 20-Day and 50-Day Moving averages of $2.77 and $2.66 respectively. Moreover, the stock is trading above the 200-Day moving average of $2.60.
