Stocks

3 Trucking Company Stocks To Watch In September 2022

3 Top Trucking Companies To Check Out In The Stock Market Now

Trucking company stocks are a type of stock that represents ownership in a trucking company. Trucking companies transport goods and materials by road. They are an essential part of the supply chain, and they play a vital role in the economy. As a result, trucking company stocks could be a good stock market investment for several reasons.

First, trucking companies are essential to the economy, as they ship goods all over the country. Second, the trucking industry is relatively resistant to economic downturns, as people still need to ship goods even when the economy is struggling. Finally, trucking companies have been benefiting from recent technological advances, such as self-driving trucks, which have made them more efficient and profitable.

As a result, it wouldn’t surprise me if investors start paying closer tabs to some of the top trucking company stocks right now. If this has you keen on the trucking sector, here are three trucking company stocks for your watchlist in the stock market today.

Trucking Company Stocks To Watch Right Now

J.B. Hunt Transport Services (JBHT Stock)

First off, we have J.B. Hunt Transport Services (JBHT). In brief, J.B. 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, final mile, and more. J.B. Hunt has operations in the United States, Canada, and Mexico.

Just back in July, the company announced its Board Of Directors has declared a quarterly cash dividend of $0.40 per common share. Meanwhile, in the same month, J.B Hunt Transport Services reported that the company’s Board Of Directors authorized a new share repurchase program totaling $500 million.

Aside from that, JBHT stock is down approximately 14% in 2022 as of Wednesday’s closing bell 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?

trucking company stocks (JBHT stock)
Source: TD Ameritrade TOS

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Schneider National Inc. (SNDR Stock)

Next, let’s dive into Schneider National Inc. (SNDR). Schneider’s comprehensive suite of offerings includes truckload, intermodal, dedicated, brokerage, refrigerated, and cross-border solutions. Schneider provides innovative solutions that optimize customer supply chains, reduce transportation spending, and improve efficiencies along the entire supply chain – from raw materials to final delivery. In July, Schenider National reported a beat for its most recent second quarter 2022 financial results.

In the report, Schneider National posted second quarter 2022 earnings of $0.72 per share, along with revenue of $1.7 billion. Wall Street’s consensus earnings estimate was $0.68 per share and revenue of $1.7 billion. This reflects a revenue increase of 28.4% during the same period, the previous year. In addition, the company said it estimates 2022 earnings per share of $2.60 to $2.70, which is revised higher from the previously announced outlook from the company of $2.55 to $2.70.

Mark Rourke, Chief Executive Officer and President of Schneider commented in his letter to shareholders, “Two of our strategic growth offerings crossed meaningful milestones in the quarter. Dedicated operated over 6,000 tractors in the quarter, an increase of over 40% from a year ago. Our Logistics segment achieved record earnings of $47.3 million on 21% growth in revenue over a year ago.” Moreover, shares of SNDR stock are still down over 15% as of Wednesday’s close at $22.33 per share. Keeping this in mind, will you be adding SNDR stock to your list of trucking company stocks to watch now?

SNDR stock
Source: TD Ameritrade TOS

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Knight-Swift Transporation 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 more than 23,000 trucks and provides transportation services to a variety of industries, including retail, food and beverage, manufacturing, and healthcare. Also back in July, the company’s board of directors declared a quarterly cash dividend of $0.12 per share of common stock.

In the same month, Knight-Swift Transportation reported its most recent Q2 2022 financial results. Diving in, the company reported second-quarter revenue of $2.0 billion. Meanwhile, Knight-Swift Transportation notched in earnings of $1.41 per share. The second quarter’s revenue numbers reflect a 41.9% increase over the same period, in 2021.

Additionally, David Jackson, CEO of Knight-Swift, said in his release to shareholders, “We achieved double-digit revenue growth and expanded margins in each of our reportable segments during the quarter. Although the spot market softened during the quarter, the Truckload segment operated with a sub-80% Adjusted Operating Ratio, while our Logistics segment grew load count 48.2% and continues to provide significant value to our customers through our power-only and traditional brokerage service offerings.” Moving on, year-to-date shares of KNX stock have fallen more than 17%, while closing out Wednesday’s trading session at $49.92 per share. Do you think KNX stock could be a good value addition to your portfolio right now?

KNX stock chart
Source: TD Ameritrade TOS

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The views and opinions expressed herein are the views and opinions of the author and do not necessarily reflect those of Nasdaq, Inc.

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