NEW YORK, NY -- (Marketwire) -- 02/21/13 -- The Trucking Industry has experienced a resurgence over the past few months. The American Trucking Associations' advanced seasonally adjusted (SA) For-Hire Truck Tonnage Index increased 2.9 percent to 125.2 in January, the highest on record. Five Star Equities examines the outlook for companies in the Trucking Industry and provides equity research on J.B. Hunt Transport Services, Inc. (NASDAQ: JBHT) and Swift Transportation Co. (NYSE: SWFT).
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The trucking industry represents a very important component of the US economy. According to the US Bureau of Economic Analysis, the trucking industry adds about 5 percent to the Gross Domestic product each year.
"The trucking industry started 2013 with a bang, reflected in the best January tonnage report in five years," ATA Chief Economist Bob Costello said. "While I believe that the overall economy will be sluggish in the first quarter, trucking likely benefited in January from an inventory destocking that transpired late last year, thus boosting volumes more than normal early this year as businesses replenish those lean inventories."
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J.B. Hunt Transport Services, Inc., together with its subsidiaries, provides transportation and delivery services in the continental United States, Canada, and Mexico. For the full year 2012 the company reported record revenues of $5.1 billion, a year-over-year increase of 12 percent. Shares of J.B. Hunt have gained over 11 percent year-to-date.
Swift began operations in 1966 with one truck and a foundation of trust, and has since grown into North America's premier truckload carrier. Shares of the company have soared over 45 percent year-to-date. The company reported net income in the fourth quarter grew 27 percent year-over-year to $46.9 million.
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