Why Saia and Old Dominion Stocks Are in the Fast Lane Today
Trucking specialist Saia (NASDAQ: Saia) said shipments were up 18% in April compared to a year ago, sparking some hope that the worst is in the rearview mirror following a difficult few quarters for transport companies.
The news is giving the entire sector a lift, with Saia stock zooming ahead by up to 14% on Tuesday, while shares of rival Old Dominion Freight Line (NASDAQ: ODFL) jumped as much as 7.5%. The two stocks were up 8% and 4%, respectively, as of noon ET.
Investors in trucking companies have been traveling a bumpy road lately. The industry got a big boost in the aftermath of the pandemic as customers struggled to keep their warehouses stocked, but over the past year, concerns about inflation and a slowing economy have led to softening demand for transportation services.
Source Fool.com
Saia Inc. Stock
The community is currently still undecided about Saia Inc. with 1 Buy predictions and 0 Sell predictions.
As a result the target price of 600 € shows a very positive potential of 70.45% compared to the current price of 352.0 € for Saia Inc..
