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.

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Source Fool.com