Type
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Private |
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Industry | Trucking |
Founded | Tampa, FL (1998) |
Key people
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Website | www |
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.
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
In QLTY 1 funds of 2213 total. Show all
Fund name | Ticker shares |
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BAIRD ROBERT W & CO INC /WI/ | 0.11M |
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 / |