Freight Stocks Plummet as Record-High Diesel Squeezes Profit Margins: 7 Names To Watch
Diesel is up 70% over the past year. J.B. Hunt fell 13% on a Q3 profit warning, dragging Knight-Swift, XPO and Old Dominion lower.
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Bernstein Initiates Coverage On Saia with Outperform Rating, Announces Price Target of $439
Bernstein analyst David Vernon initiates coverage on Saia (NASDAQ:SAIA) with a Outperform rating and announces Price Target of $439.
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Shares of logistics and freight-related companies are trading lower amid sympathy with J.B. Hunt after that company's CFO said at an industry conference that its Q3 earnings may fall 5%-10% quarter-over-quarter due to cost effects.
Shares of logistics and freight-related companies are trading lower as ICE Brent crude prices reach over $100 per barrel for the first time since late July. Diesel prices are on track to set a new record high for 2026, which will cut into margins for a sector that depends on the fuel.