Those who own shares of Arkansas trucking companies have even more reason to celebrate the July 4 holiday.
Shares of P.A.M. Transportation Services Inc. (NASDAQ :PTSI) closed Monday at $30.25, up $1.36 and breaking through a 52-week high of $28.96. Shares of the Tontitown-based trucking company have gained 20.3 percent in the past 10 trading days.
Shares of Fort Smith-based Arkansas Best Corp. (NASDAQ: ABFS) closed Monday at $50.57, up 36 cents and also setting a new 52-week high. The share price of the less-than-truckload trucking company is up more than 18 percent since June 1.
Lowell-based J.B. Hunt Transport Services Inc. shares (NASDAQ: JBHT) closed Monday at $25.53, up 62 cents and near a 52-week high of $25.90.
Van Buren-based USA Truck Inc. shares (NASDAQ: USAK) closed Monday at $19.20, up $1.38, or more than 7.7 percent. However, USA Truck shares are on the rebound after falling from a 52-week high of $32.
Industry analyst David G. Ross of Stifel Nicolaus said in a report dated June 28 that the trucking sector has had a good first half of 2006 and now enters its strongest months. Recent optimism from executives within FedEx's freight unit, and positive comments from Arkansas Best and YRC Worldwide Inc. are driving interest in trucking stocks, according to Ross.
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