Roadrunner Transportation (RRTS) PT Lowered to $6 at Baird; Remains Sidelined

Baird lowered its price target on Roadrunner Transportation (NYSE: RRTS) to $6.00 (from $8.00) while maintaining a Neutral rating following the company's restatement of historical results through 2016. Work remains, but analyst Benjamin J. Hartford believes that the steps taken by the company are productive steps to stabilize the organization.

Management does not expect to provide 2018 EBITDA guidance once the entire restatement and result finalization process is complete. However, as a rough guide, RRTS’ high-water mark in EBITDA was $103.5 million in 2014.

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