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Trucking Sector Sinks On Valuation, Growth Outlook

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Sky-high stock prices in the trucking sector and prospects for slower 2015 growth sent the sector skidding lower Wednesday.

With a cyclical demand uptick likely to diminish next year, along with growing price competition and increasingly difficult quarterly comparisons, Credit Suisse's Allison M. Landry downgraded C.H. Robinson Worldwide, Inc. (NASDAQ: CHRW) Thursday to Underperform, from Neutral.

Earlier this week, Robinson beat third-quarter expectations; on Thursday, both Old Dominion Freight Line (NASDAQ: ODFL) and Con-way Inc (NYSE: CNW) offered similar upside surprises.

J.B. Hunt Transport Services, Inc.(NASDAQ: JBHT) Landstar System, Inc. (NASDAQ: LSTR) have also posted for the recent quarter and both beat Street views.

Roadrunner Transportation Systems Inc (NYSE: RRTS) missed third-quarter expectations by a penny Wednesday.

Much of the sector retreated Thursday from near 52-week highs.

Roadrunner fell nearly 8 percent to $20.28 a share. Similarly Con-way and Old Dominion were each off nearly 4 percent in morning trading Thursday.

Robinson fell more than 3 percent to 69.74 a share, while J.B.Hunt was off nearly 1 percent to $79.11.

Latest Ratings for CHRW

DateFirmActionFromTo
Apr 2021Morgan StanleyMaintainsUnderweight
Apr 2021Credit SuisseMaintainsUnderperform
Apr 2021Wells FargoMaintainsUnderweight

View More Analyst Ratings for CHRW
View the Latest Analyst Ratings

 

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Posted-In: Allison M. LandryAnalyst Color Earnings News Guidance Downgrades Intraday Update Analyst Ratings

Latest Ratings

StockFirmActionPT
FIBKStephens & Co.Downgrades
LEAFCanaccord GenuityDowngrades8.5
AGMSidoti & Co.Downgrades115.0
KEXGabelli & Co.Downgrades
OCGNCantor FitzgeraldDowngrades11.0
View the Latest Analytics Ratings
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