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Bumpy Roads Ahead for 8 Truckers on High Price/Earnings, Weak Technicals

NEW YORK (TheStreet) – Most trucking companies have enjoyed life in the fast lane so far in 2014. Now it seems like the roads ahead are bumpy. The eight truckers noted here have elevated 12-month trailing price-to-earnings ratios between 21.3 and 26.3.

Five of eight have declining 12x3x3 weekly slow stochastics and closes on Friday below their five-week modified moving averages will result in negative weekly chart profiles.

The Dow Transportation Average closed at 8154 on Tuesday and will have a negative weekly chart on a close Friday below its five-week MMA at 8174.

Note that six of eight truckers have gains of 16% to 47% year to date.

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Here are the post-earnings for these eight companies. Two “crunching the numbers” tables follow.

Con-Way (CNW) ($50.73) has been above its 200-day simple moving average at $42.97 since April 17 and set a multiyear intraday high at $50.98 on July 1. The stock traded as low as $47.06 on July 29 then popped above its 50-day SMA at $49.00 after beating analysts earnings estimates on July 30.

The weekly chart is positive but overbought with its five-week modified moving average at $49.03 but a close below $49.03 would shift the chart to negative. Semiannual and monthly value levels are $46.47 and $45.97, respectively, with a weekly pivot at $50.93.

Heartland Express (HTLD) ($23.23) beat analysts earnings estimates on July 18 and the stock set an all-time intraday high at $24.23 on July 24. The stock is above all five moving averages in the second “crunching the numbers” table.

The weekly chart is positive with its five-week MMA at $22.27, but the price pattern appears parabolic. Quarterly and semiannual value levels are $20.85 and $20.19, respectively, with a weekly pivot at $22.11 and monthly risky level at $24.84.  

JB Hunt (JBHT) ($76.55) set an all-time intraday high at $79.89 on Jan. 22 then traded as low as $69.33 on March 25. The 200-day SMA has been a magnet at $75.10 since Jan.29. The company reported quarterly earnings on July 15 and matched analysts' estimates. Given positive guidance the stock popped from $72.94 on July 15 to $79.79 on July 16 then returned to the 200-day at $75.10 on Aug. 7.

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