Stifel Downgrades Schneider National (SNDR) to Hold

Stifel analyst J. Bruce Chan downgraded Schneider National (NYSE: SNDR) from Buy to Hold with a price target of $25.00.

The analyst comments: "There were some positive indicators for Schneider in 2Q24, including a return to seasonally-normal demand patterns and brief capacity tightening around the summer holidays. But weak rates across the portfolio continued hampering results. Reported EPS of $0.21 beat Consensus and our estimate at $0.18 and $0.20, respectively, with upside from better-than-modeled ORs in all three segments. But similar to peers, management underestimated the depth and duration of this rate trough, leading to yet another FY24 EPS guide down. Our outlook is still for gradual, sequential improvement through year-end, with some help from cost controls and productivity gains in 2H24. But with the stock still up ~10% YTD and an already tepid cycle turn that continues to move out to the right, we feel the need to narrow our focus within the group, where there are other opportunities that offer more relative upside potential. As such, we are moving to Hold."

For an analyst ratings summary and ratings history on Schneider National click here. For more ratings news on Schneider National click here.

Shares of Schneider National closed at $27.33 yesterday.

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