Trucking stocks have surged in 2013 as a steadily improving housing market has helped boost demand. The American Trucking Associations' advanced seasonally adjusted (SA) For-Hire Truck Tonnage Index spiked 2.3 percent in May to 126.0, which was the highest level on record and up 6.7 percent year-over-year. “The 6.8% surge in new housing starts during May obviously pushed tonnage up as home construction generates a significant amount of truck tonnage.” said ATA chief economist Bob Costello. "While we heard good reports regarding freight levels during May, I have to admit I am a little surprised at the large gain in tonnage," added Costello.
Arkansas Best Corporation (NASDAQ: ABFS) shares traded in the range of $23.10 to $23.54 Wednesday before settling to close at $23.35, an increase of 1.35 percent. The stock appears to be facing resistance some resistance at $24.31 with some support at the $22.95 and $21.95 levels. Shares of Arkansas Best have gained approximately 145.0 percent in 2013.
More information on Arkansas Best and access to the free equity report can be found at: www.WallStreetFundamentals.com/ABFS
Con-way Inc. (NYSE: CNW) shares traded in the range of $40.72 to $41.69 Wednesday before settling to close at $41.12, a decrease of 1.15 percent. The stock appears to be facing some resistance at $43.37 with some support at the $39.82 and $38.37 levels. Shares of Con-way have gained approximately 48.0 percent in 2013.
More information on Con-way and access to the free equity report can be found at: www.WallStreetFundamentals.com/CNW
Old Dominion Freight Line (NASDAQ: ODFL) shares traded in the range of $43.73 to $44.57 Wednesday before settling to close at $43.86, a decrease of 1.19 percent. The stock appears to be facing some resistance at $47.90 with some support at $42.58. Shares of Old Dominion Freight Line have gained approximately 28.0 percent in 2013.
More information on Old Dominion Freight Line and access to the free equity report can be found at: www.WallStreetFundamentals.com/ODFL
YRC Worldwide, Inc. (NASDAQ: YRCW) shares traded in the range of $34.29 to $36.47 Wednesday before settling to close at $35.32, a decrease of 0.84 percent. The stock appears to have some support at the $34.08 and $31.47 levels. Shares of YRC Worldwide have gained approximately 35.0 percent in 2013.
More information on YRC Worldwide and access to the free equity report can be found at: www.WallStreetFundamentals.com/YRCW
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