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Zacks Industry Outlook Highlights: ArcBest Corp, Covenant Logistics, Old Dominion Freight Line, Saia and J.B. Hunt Transport Services

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15.10.2021

Chicago, IL – October 15, 2021 – Today, Zacks Equity Research discusses Trucking, including ArcBest Corporation ARCB, Covenant Logistics Group Inc. CVLG, Old Dominion Freight Line Inc. ODFL, Saia Inc. SAIA and J.B. Hunt Transport Services Inc. JBHT.

Link: https://www.zacks.com/stock/news/1810531/will-the-bull-run-continue-for-us-trucking-industry

A solidly recovering U.S. economy, a substantial surge in manufactured and retail goods, and a sharp rebound in a number of end markets are likely to fuel growth of the transportation sector. Of the various means of U.S. transport, trucking is the largest, servicing more than 70% of freight tonnage.

The Zacks defined Truck Industry —part of the broader Transportation sector — is currently ranked in the top 11% industries. Specifically, it is ranked number 28 of 252 industries. Year to date, this industry has provided a robust return of more than 34%. The truck industry is expected to outperform the broader market in the next 3-6 months.

The truck industry consists of truck operators transporting freight to a diverse group of customers, primarily across North America. These companies provide full-truckload or less-than-truckload (“LTL”) services over the short, medium or long haul.

Additionally, most of these entities offer logistics and intermodal services (provided by moving freight over the rail), and value-added services like container drayage, truckload brokerage, supply chain consulting and warehousing. A few also offer asset-light services to other third-party logistics companies in the transportation sector.

The American Trucking Associations, reported that truck tonnage increased 0.5% in August after falling 1.1% in July.........

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