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QLTY $15.98

QLTY target price
15.98
0
0
Quality Distribution
Type
Private
Industry Trucking
Founded Tampa, FL (1998)
Key people
  • Gary Enzor (Chairman and CEO)
  • Joe Troy (Executive Vice President and CFO)
  • Randy Strutz (President QCI & QCER)
  • Tony Morsovillo (President Boasso)
Website www.qualitydistribution.com

Quality Distribution, Inc. (Quality) is a Tampa, Florida-based trucking and chemical transportation business. On August 18, 2015, Quality completed its previously announced merger agreement with funds advised by Apax Partners LLP on May 6, 2015.

Quality operates three segments - Chemical Logistics, Intermodal, and Energy Logistics - through a number of wholly owned subsidiary companies. Chemical Logistics is operated by Quality Carriers, Inc. (“QCI”) and includes liquid and dry bulk chemicals, and bulk dry and liquid food-grade products. Intermodal is operated by Boasso America Corporation (“Boasso”) which includes ISO tank container transportation, depot services, tank cleaning, heating, testing, maintenance, and storage services. Energy Logistics is operated by QC Energy Resources, Inc. and QC Environmental Services, Inc. (collectively “QCER”) provide logistics and transportation services of crude oil, fresh water and production fluids to unconventional oil and gas (“UCO&G”) markets.

Formerly known as MTL, Inc. the company was founded in 1984 and had its name changed to Quality Distribution, Inc. in 1999. By 2012 the company was managing a fleet of approximately 2,800 independently owned and operated tractors and 5,300 trailers, as well as affiliate and company owned terminals; it had about 850 employees and a market capitalization of about $250 million. It expanded through acquisition into a number of areas in 2012, including transporting oil and wastewater for energy companies. These acquisitions initially underperformed expectations, but a December 2013 article in Barron's noted that QD's core business of chemical transportation remained a market-share leader. Earlier in 2013, Apollo Global Management planned to divest its 17% stake in the company with a public offering.

As of December 31, 2014, Quality operated through a network of 95 terminals servicing the chemical and other bulk liquid markets, 9 ISO tank depot services terminals (intermodal) also servicing the chemical and other bulk liquid markets and 19 terminals servicing the energy market. Quality utilized approximately 3,500 drivers and managed a fleet of approximately 3,200 tractors, 5,700 trailers and 1,200 pieces of other energy logistics equipment. Quality’s asset-light business model operates via business networks.

As of August 28, 2015, Quality no longer trades on the NASDAQ under the symbol QLTY.

Q reports

Period Date Adjusted Actuals EPS GAAP EPS

Ratings

2015-05-11 Downgrade BB&T Corp. Buy to Hold $18.00 to $18.00
2015-05-08 Downgrade Avondale Partners Market Perform to Underperform
2015-05-08 Downgrade Stifel Nicolaus Buy to Hold $13.00 to $16.00
2015-05-07 Downgrade KeyBanc Overweight
2015-05-07 Downgrade KeyCorp Overweight
2014-11-12 Upgrade Stifel Nicolaus Hold to Buy $15.00
2014-11-06 Reiterated Rating Bank of America Buy $19.00 to $17.00
2014-11-06 Reiterated Rating Bank of America Corp. Buy $19.00 to $17.00
2014-02-27 Lower Price Target Credit Suisse $15.00 to $14.00
2014-01-17 Boost Price Target KeyBanc $15.00 to $16.00
2013-12-20 Reiterated Rating Bank of America Buy $13.00 to $16.00
2013-12-05 Downgrade Stifel Nicolaus Buy to Hold $13.00
2013-11-07 Boost Price Target Credit Suisse Neutral $10.00 to $11.00
2011-12-06 Initiated KeyBanc Capital Mkts Hold
2011-08-25 Upgrade Stifel Nicolaus Hold to Buy $14
2011-07-08 Initiated Avondale Mkt Outperform $16
2011-03-18 Initiated RBC Capital Mkts Outperform $14
2010-04-16 Initiated Ladenburg Thalmann Buy $10
2010-04-01 Initiated Sterne Agee Buy $15
2015-05-11 Downgrade BB&T Corp. Buy to Hold $18.00 to $18.00
2015-05-08 Downgrade Avondale Partners Market Perform to Underperform
2015-05-08 Downgrade Stifel Nicolaus Buy to Hold $13.00 to $16.00
2015-05-07 Downgrade KeyBanc Overweight
2015-05-07 Downgrade KeyCorp Overweight

There is presents forecasts of rating agencies and recommendations for investors about this ticker

Funds

In QLTY 1 funds of 2201 total. Show all

Fund name Ticker shares
BAIRD ROBERT W & CO INC /WI/ 0.11M

Major Shareholders

Name Relationship Total Shares Holding stocks
ATTWOOD STEPHEN R. C.O.O. and President 0.54%  (150742) QLTY /
Rashid Ali 0.45%  (125233) QLTY /
CROWE KEVIN E 0.10%  (26931) QLTY /
WHITE THOMAS M 0.07%  (18365) EVTC / FTD / LDR / QLTY /
Gold Jonathan C Sr.V.P. General Counsel & Sec 0.06%  (15988) QLTY /