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Downgrade Alert for Quality Distribution (QLTY)

By Shiri Gupta

Quality Distribution (NASDAQ:QLTY) was downgraded from Buy to Hold at BB&T Capital today. The stock closed yesterday at $15.73 on volume of 1.2 million shares, above average daily volume of 466,000.

In the past 52 weeks, shares of Quality Distribution have traded between a low of $4.91 and a high of $15.86 and closed yesterday at $15.73, which is 220% above that low price. In the last five trading sessions, the 50-day moving average (MA) has climbed 2.7% while the 200-day MA has remained constant.

Quality Distribution (NASDAQ:QLTY) is currently priced 4.0% above its average consensus analyst price target of $15.10. The stock should discover initial support at its 200-day moving average (MA) of $11.49 and subsequent support at its 50-day MA of $10.65.

Quality Distribution Inc. operates a dedicated bulk tank network across North America. The Company transports a broad range of chemical products and also provides transportation management, transloading, tank cleaning, dry-bulk handling, and other logistical services.

SmarTrend is monitoring the recent change of momentum in Quality Distribution. Please refer to our Company Overview for the results of our proprietary technical indicators that have been scanning shares of Quality Distribution in search of a potential trend change.

Keywords: analyst upgrades/downgrades quality distribution

Ticker(s): QLTY