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ARCB

ArcBest

$26.57

-1.25 (-4.49%)

, SWFT

Swift Transportation

$0.00

(0.00%)

06:46
05/24/19
05/24
06:46
05/24/19
06:46

Moderating demand, prices ratchet up worries for U.S freight, WSJ says

According to the Wall Street Journal's Jennifer Smith, dicey economic measures are "casting a cloud over the U.S. freight market as bad weather and trade concerns bog down the spring shipping season." Transportation experts and some freight metrics are indicating a slowdown in the need to move consumer products, industrial parts, added the WSJ story. Publicly traded companies in the space include ArcBest (ARCB), J.B. Hunt (JBHT), Knight-Swift (KNX), Old Dominion (ODFL), Swift Transportation (SWFT) and Werner (WERN). Reference Link

ARCB

ArcBest

$26.57

-1.25 (-4.49%)

SWFT

Swift Transportation

$0.00

(0.00%)

JBHT

J.B. Hunt

$91.09

-1.86 (-2.00%)

KNX

Knight-Swift

$30.40

-0.44 (-1.43%)

ODFL

Old Dominion

$139.63

-4.01 (-2.79%)

WERN

Werner

$29.55

-4.55 (-13.34%)

  • 30

    May

  • 13

    Nov

ARCB ArcBest
$26.57

-1.25 (-4.49%)

04/01/19
WOLF
04/01/19
UPGRADE
WOLF
Peer Perform
ArcBest upgraded to Peer Perform from Underperform at Wolfe Research
05/06/19
LOOP
05/06/19
NO CHANGE
Target $34
LOOP
Hold
ArcBest price target lowered to $34 from $40 at Loop Capital
Loop Capital analyst Jeffrey Kauffman lowered his price target on ArcBest to $34 and kept his Hold rating after its "disappointing" Q1 results that were driven by slower freight volume as well as the company's increased investment spending. The analyst adds that while the "less than truckload shipping", or LTL, environment remains "healthy", ArcBest management has also discussed its expected retreat in pricing toward the "normalized" levels during 2019, even though it did not see any "undue pressure on rates."
05/22/19
COWN
05/22/19
UPGRADE
COWN
Outperform
ArcBest upgraded to Outperform from Market Perform at Cowen
05/22/19
COWN
05/22/19
UPGRADE
COWN
Outperform
Hub Group, ArcBest, Covenant upgraded to Outperform at Cowen
Cowen analyst Jason Seidl upgraded Hub Group (HUBG) to Outperform from Market Perform, noting that while some major freight demand indexes have been down for four straight months, looking at the first half of 2019 in a vacuum "would be a mistake" given weather, tariff impacts, and historically tough comps. The analyst, who contends that the issue isn't necessarily that 2019 has been so bad but that 2018 "was just really, really good," does not see a freight recession occurring. He also upgraded ArcBest (ARCB) and Covenant Transportation (CVTI) to Outperform, as previously reported, citing the same rationale and noting that all three stocks are trading below their historical multiples. The analyst has a $40 price target on ArcBest, a $23 target on Covenant and a $53 price target on Hub Group.
SWFT Swift Transportation
$0.00

(0.00%)

JBHT J.B. Hunt
$91.09

-1.86 (-2.00%)

04/17/19
ARGS
04/17/19
DOWNGRADE
ARGS
Hold
J.B. Hunt downgraded to Hold from Buy at Argus
04/17/19
DBAB
04/17/19
DOWNGRADE
DBAB
Sell
J.B. Hunt downgraded to Sell from Buy at Deutsche Bank
04/18/19
DBAB
04/18/19
DOWNGRADE
Target $83
DBAB
Sell
Deutsche Bank double downgrades J.B. Hunt to Sell from Buy with $83 target
Deutsche Bank analyst Amit Mehrotra last night double downgraded J.B. Hunt to Sell from Buy and cut his price target for the shares to $83 from $125. The analyst says his work makes it clear that the trajectory of J.B. Hunt's returns is negative. This will continue, increasingly, as U.S. import volumes shift east, Intermodal length of haul shrinks and the company's highest return business increasingly competes with trucking, Mehrotra tells investors in a research note. The analyst sees a "significant shift" in U.S. imports eastward and away from West Coast ports. He downgraded J.B. Hunt after researching the implications for intermodal and trucking as length of haul moves lower.
04/30/19
BARD
04/30/19
NO CHANGE
BARD
Amazon freight launch an overhang on domestic U.S. brokers, says Baird
Baird analyst Benjamin Hartford noted that incumbent U.S. truck brokers such as C.H. Robinson (CHRW) and Landstar System (LSTR) underperformed U.S. asset-based transports yesterday after it came to light that Amazon (AMZN) launched its website, freight.amazon.com, related to its truck brokerage service. He views this reaction to be the correct read by the market, as he sees asset-based carriers with emerging logistics capabilities - like Knight-Swift (KNX), Schneider National (SNDR), J.B. Hunt (JBHT) and Werner (WERN) - being strategically better positioned to weather the risk of gross margin compression from full truckload services being offered by Amazon, Hartford tells investors. Hartford has Neutral ratings on both C.H. Robinson and Landstar.
KNX Knight-Swift
$30.40

-0.44 (-1.43%)

01/22/19
WOLF
01/22/19
DOWNGRADE
WOLF
Peer Perform
Knight-Swift downgraded to Peer Perform from Outperform at Wolfe Research
02/01/19
LOOP
02/01/19
NO CHANGE
LOOP
Loop Capital says take advantage of pullback in Knight-Swift
Loop Capital analyst Jeffrey Kauffman reaffirmed a Buy rating and $47 price target on Knight-Swift shares after the company reported better-than-expected Q4 results driven by strong margin improvement, which the analyst believes demonstrates that management "seems to be getting their hands around the former Swift business." Kauffman said he believes "investors are being given the opportunity to take advantage of a pullback in the stock."
03/05/19
MSCO
03/05/19
UPGRADE
Target $25
MSCO
Equal Weight
Echo Global upgraded to Equal Weight from Underweight at Morgan Stanley
Morgan Stanley analyst Ravi Shanker upgraded Echo Global (ECHO) to Equal Weight and raised his price target to $25 from $22 as part of his broader research note recommending that investors buy Truck Load names. The analyst contends that the behavior of the industry over the past 6 months suggests a "potential structural bull case of rates re-basing higher" and expects the industry multiples to re-rate higher as well. Shanker anticipates 25%-50% upside to Truck Load stocks from their current levels. Outside of Echo Global, the analyst also highlights Knight Swift (KNX), Schneider National (SNDR), Werner Enterprises (WERN), and U.S. Xpress Enterprises (USX) as his "top picks" in the Freight Transportation sector, saying they trade "below trough valuation" despite better than expected 2019 guidance.
ODFL Old Dominion
$139.63

-4.01 (-2.79%)

10/26/18
KEYB
10/26/18
NO CHANGE
Target $150
KEYB
Overweight
Old Dominion price target cut to $150 from $170 at KeyBanc
KeyBanc analyst Todd Fowler lowered his price target on Old Dominion to $150 from $180. In a research note to investors, Fowler says additional margin expansion and favorable yield dynamics support continued earnings growth into 2019, despite slower tonnage growth from company-specific initiatives and macro factors. Combined with potential capital deployment as CapEx normalizes and favorable valuation, he reiterates an Overweight rating.
10/30/18
BOFA
10/30/18
UPGRADE
Target $139
BOFA
Buy
Old Dominion upgraded to Buy from Underperform at BofA/Merrill
BofA/Merrill analyst Ariel Rosa double upgraded Old Dominion to Buy from Underperform and lowered its price target to $139 from $143. Rosa said the recent price decline provides a buying opportunity and notes the company's strong balance sheet and top management team that has a strong record of compounding growth.
02/08/19
KEYB
02/08/19
NO CHANGE
Target $160
KEYB
Overweight
Old Dominion price target raised to $160 from $150 at KeyBanc
KeyBanc analyst Todd Fowler reiterated an Overweight rating on Old Dominion and raised his price target to $160 from $150 following the company's Q4 results. While he notes challenging comparisons following strong performance in 2018, Fowler says he is encouraged by commentary suggesting further margin improvement potential against a stable backdrop, as well as increased capital deployment as capex normalizes. Fowler raised his estimates, and now sees 2019E EPS $8.15 from $7.90, including a Q1 EPS estimate of $1.67 and 2020 EPS of $8.60.
02/26/19
BOFA
02/26/19
DOWNGRADE
BOFA
Neutral
Old Dominion downgraded to Neutral from Buy at BofA/Merrill
BofA/Merrill analyst Ariel Rosa downgraded Old Dominion to Neutral from Buy and raised its price target to $158 from $154 citing valuation.
WERN Werner
$29.55

-4.55 (-13.34%)

12/13/18
LOOP
12/13/18
NO CHANGE
Target $42
LOOP
Buy
Solid truck volumes, low fuel prices to drive Werner Q4, says Loop Capital
Loop Capital analyst Jeffrey Kauffman kept his Buy rating and $42 price target on Werner, also raising his FY19 EPS view by 5c to $2.80 and FY20 by 6c to 2.96. The analyst is positive on the company's upcoming Q4 results based on the "solid truck volumes and lower-than-expected fuel prices" based on his channel checks and management discussions which, he says, also helped him predict a strong quarter in Q3. Kauffman sees Werner as one of his "better ideas in the trucking space" given its 11.4-times forward earnings multiple.
01/22/19
DBAB
01/22/19
NO CHANGE
DBAB
Buy
Deutsche Bank names Werner short-term investment idea
Deutsche Bank analyst Amit Mehrotra placed a "Catalyst Call" on Werner Enterprises (WERN) as a short-term investment idea. Despite the recent rally in U.S. Transportation stocks, Werner shares still trade at a "meaningful discount" to fair value at this point in the cycle, Mehrotra tells investors in a research note. He points out that the stock has significantly lagged peer Knight-Swift (KNX) year-to-date. The analyst keeps a Buy rating on Werner.

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NYSE Market Internals

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