3 Best Trucking Companies to Check Out on the Stock Exchange Now
Trucking company shares are a type of stock that represents ownership of a trucking company. Trucking companies transport goods and materials by road. They are an essential part of the supply chain and play a vital role in the economy. Therefore, shares of a trucking company could be a good stock market investment for several reasons.
First, trucking companies are essential to the economy because they ship goods across the country. Second, the trucking industry is relatively resilient to economic downturns because people still need to ship goods even when the economy is struggling. Finally, trucking companies have benefited from recent technological advancements, such as self-driving trucks, which have made them more efficient and profitable.
As a result, it wouldn’t surprise me if investors started paying closer to some of the major trucking stocks right now. If you’re passionate about the trucking industry, here are three trucking company stocks for your watchlist in the stock market today.
Trucking stocks to watch right now
JB Hunt Transportation Services (JBHT Stock)
First of all, we have JB Hunt Transportation Services (JBHT). Briefly, JB Hunt Transport Services, Inc. is an American transportation and logistics company headquartered in Arkansas. The company specializes in providing a variety of transportation and logistics services, including intermodal, dedicated, last mile, and more. JB Hunt is present in the United States, Canada and Mexico.
Last July, the company announced that its board of directors had declared a quarterly cash dividend of $0.40 per common share. Meanwhile, in the same month, JB Hunt Transport Services announced that the company’s board of directors had authorized a new share buyback program totaling $500 million.
Other than that, JBHT stock is down about 14% in 2022 as of Wednesday’s close at $172.39 per share. Given the company’s track record and recent news, do you think JBHT is a good trucking company stock to buy now?
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Schneider National Inc. (SNDR stock)
Then let’s dive into Schneider National Inc. (NRDS). Schneider’s comprehensive suite of offerings includes full load, intermodal, dedicated, brokerage, refrigerated and cross-border solutions. Schneider offers innovative solutions that optimize customer supply chains, reduce transportation expenses and improve efficiency throughout the supply chain, from raw materials to final delivery. In July, Schenider National announced a beat for its latest financial results for the second quarter of 2022.
In the report, Schneider National posted earnings of $0.72 per share in the second quarter of 2022, along with revenue of $1.7 billion. The consensus estimate for Wall Street earnings was $0.68 a share and revenue of $1.7 billion. This reflects a revenue increase of 28.4% over the same period the previous year. Additionally, the company said it estimates 2022 earnings per share of $2.60 to $2.70, which is revised up from the company’s previously announced guidance of $2.55 to 2. $.70.
Mark Rourke, CEO and Chairman of Schneider, said in his letter to shareholders:Two of our strategic growth offerings achieved significant milestones during the quarter. Dedicated operated over 6,000 tractors in the quarter, an increase of over 40% from a year ago. Our Logistics segment achieved a record profit of $47.3 million on 21% revenue growth a year ago.Additionally, SNDR shares are still down more than 15% as of Wednesday’s close at $22.33 per share. With that in mind, will you add SNDR stocks to your list of trucking company stocks to watch now?
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Knight-Swift Transportation Holdings Inc. (KNX stock)
Last but not least, Knight-Swift Transportation Holdings Inc. (KNX) is one of the largest trucking companies in the United States. It operates a fleet of over 23,000 trucks and provides transportation services to a variety of industries, including retail, food and beverage, manufacturing, and healthcare. Also in July, the company’s board of directors declared a quarterly cash dividend of $0.12 per common share.
In the same month, Knight-Swift Transportation released its latest second-quarter 2022 financial results. Plunging, the company reported second-quarter revenue of $2.0 billion. Meanwhile, Knight-Swift Transportation reported earnings of $1.41 per share. The second quarter revenue numbers reflect a 41.9% increase over the same period in 2021.
Additionally, Knight-Swift CEO David Jackson said in his statement to shareholders:We achieved double-digit revenue growth and increased margins in each of our reportable segments during the quarter. Although the spot market weakened during the quarter, the full truckload segment operated with an adjusted operating ratio below 80%, while our logistics segment increased the number of loads by 48.2% and continues to deliver significant value to our customers through our traditional brokerage and electricity-only service. offerings.Moving on, KNX shares year-to-date are down more than 17%, while closing Wednesday’s trading session at $49.92 per share. Do you think KNX stocks could be a good value addition to your portfolio right now?
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