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.
While US Xpress Enterprises Inc (NYSE: USX) is expanding its Variant truck segment, it is missing out on “fully participating in the strongest truckload market in a generation,” according to BofA Securities.