As an indicator of US economic trends, the trucking industry has been a consistent leading indicator of the direction the economy is heading. No economic downturn has ever been recorded without trucking first turning negative.
And right now, US trucking companies have turned in a 29th consecutive month of growth according to April tonnage data. Trucking companies like J.B. Hunt Transport Services Inc. (NASDAQ: JBHT), Landstar System Inc. (NASDAQ: LSTR), Swift Transportation Co. (NYSE: SWFT), Celadon Group Inc. (NYSE: CGI), Old Dominion Freight Line Inc. (NASDAQ: ODFL), and Con-Way Inc. (NYSE: CNW) are either posting share price gains or poised to.
Bloomberg News cites transportation forecaster FTR Associates’ April’s truck loadings index of 115.9 — the highest reading since 2008 — as further evidence that the US economy continues to expand, even if slowly. Landstar affirmed its earnings estimate of $0.71-$0.76 in late May, further enforcing the slow, if wobbly growth of the US economy.
Weaker retail sales and forecasts have dampened the enthusiasm for trucking stocks somewhat, but the retail outlook reflects more careful inventory management among retailers and shippers.
Over the past two months, Con-Way, Celadon, and J.B. Hunt have all seen share prices rise by 10% or better, with most of the growth coming in the last month. Con-way is up another 4% today, at $37.62 in a 52-week range of $20.56-$42.38. Celadon is up nearly 2% today, at $16.41 in a 52-week range of $8.18-$16.50, and J.B. Hunt is up about 0.5% at $60.94 after posting a new 52-week high this morning of $61.12.
Paul Ausick
Travel Cards Are Getting Too Good To Ignore
Credit card companies are pulling out all the stops, with the issuers are offering insane travel rewards and perks.
We’re talking huge sign-up bonuses, points on every purchase, and benefits like lounge access, travel credits, and free hotel nights. For travelers, these rewards can add up to thousands of dollars in flights, upgrades, and luxury experiences every year.
It’s like getting paid to travel — and it’s available to qualified borrowers who know where to look.
We’ve rounded up some of the best travel credit cards on the market. Click here to see the list. Don’t miss these offers — they won’t be this good forever.
The post Trucking Companies Point to Stable US Economy (JBHT, LSTR, SWFT, CGI, ODFL, CNW) appeared first on 24/7 Wall St..