Transportation stocks continue to hit fresh all-time highs. So the question is, how much further can they climb? The short answer: There is a lot more upside if you look at the price of the transports sector relative to its most important expense.
Yesterday PetSmart (Nasdaq: PETM) reported mixed quarterly results. Sales were unimpressive but profits did jump. The main reason shares are surging higher today is due to continued talks surrounding the company being taken private in the near future.