- Wolfe Research analyst Scott Group downgraded the trucking sector to Underweight from Market Weight and adjusted the ratings for several related stocks.
- Group says while supply chains remain under “significant stress with few signs of improvement,” inventory levels are finally starting to improve.
- The analyst expects to see a gradual supply chain improvement in 2022, leading to slower freight demand and pricing gains in the second half of the year.
- He believes 2022 will represent “peak earnings for a bunch of transports.”
- The analyst downgraded Covenant Logistics Group Inc (NASDAQ:CVLG) to Underperform from Peer Perform with a price target of $23 (a downside of 1.3%).
- The analyst downgraded TFI International Inc (NYSE:TFII) to Peer Perform from Outperform.
- The analyst downgraded Forward Air Corp (NASDAQ:FWRD) to Peer Perform from Outperform.
- The analyst downgraded Westinghouse Air Brake Technologies Corp (NYSE:WAB) to Underperform from Peer Perform with a price target of $92 (a downside of 5%).
- The analyst downgraded Landstar System, Inc. (NASDAQ:LSTR) to Underperform from Peer Perform and announced a price target of $169 (a downside of 1.5%).
- The analyst downgraded U.S. Xpress Enterprises Inc (NYSE:USX) to Underperform from Peer Perform to Underperform and announced a price target of $5 (a downside of 6.5%).
- The analyst upgraded C.H. Robinson Worldwide Inc (NASDAQ:CHRW) to Outperform from Peer Perform and announced a price target of $124 (an upside of 12%).
- Price Action: CVLG shares are trading lower by 6.43% at $23.43, FWRD by 1.58% at $116.76, LSTR by 4.35% at $171.53, TFII down by 2.3% at $102.40, USX lower by 5.48% at $5.35, CHRW higher by 0.65% at $110.37 and WAB higher by 0.23% at $96.77 on the last check Thursday.
DaVita Q2 EPS $2.30 Beats $2.09 Estimate, Sales $2.93B Miss $2.93B Estimate
DaVita (NASDAQ:DVA) reported quarterly earnings of $2.30 per share which beat the analyst consensus estimate of $2.09 by 10.05 percent. This is a 12.88 percent decrease over earnings of $2.64 per share from the same
