Trucking Shares Rise
Shares of several major trucking companies rose this week, boosted by a report suggesting continued demand for raw materials and the need to transport those goods, the Associated Press reported.
The Institute for Supply Management said Monday that its monthly factory index rose for a fifth straight month.
Robert W. Baird & Co. analyst Jon Langenfeld said that although he remains cautious about the trucking sector, demand trends should turn positive in the second half the year, AP said.
Among trucking companies’ closing share prices on Monday:
• YRC Worldwide, ranked No. 3 on the Transport Topics 100, rose 22 cents to $37.02.
• J.B. Hunt Transport Services, ranked No. 10 on the TT 100, rose $1.04 to $30.36 per share. Earlier, its stock hit a 52-week high of $30.46.
• Con-way Inc. (No. 6) rose 41 cents to $50.65.
• Werner Enterprises (No. 16) gained 12 cents to $20.27.
• Arkansas Best Corp. (No. 17) rose 43 cents to $39.40.
• U.S. Xpress Enterprises (No. 21) fell 22 cents to $18.36.
• Old Dominion Freight Line (No. 24) gained 61 cents to $30.76.
• Universal Truckload Services (No. 44) rose 98 cents to $20.85.
