While economic activity is still strained in many ways, some sectors are finally recovering and even returning to near-pre-pandemic levels. For instance, while shipping at the country’s ports remains a significant bottleneck, shipping via truck has begun to improve over the past several months, making trucking stocks appealing to investors.

While increases in freight declined mid-year in 2021. The Cass Freight Index has shown some growth since then into 2022. Even showing year-over-year (YOY) increases in recent months from a mostly solid 2021.

Although freight was reduced in late summer and early fall, one can expect rates to increase yet again as we approach the holidays. Of course, if you want to capitalize on the increases in freight, the way to do so is not through buying goods but through investing. And, indeed, there are several trucking stocks to buy if you are looking to invest.

Here are some of the best trucking stocks right now:

  • Old Dominion Freight Line (Nasdaq: ODFL)
  • TFI International Inc. (NYSE: TFII)
  • ArcBest Corp (Nasdaq: ARCB)
  • USA Truck Inc. (Nasdaq: USAK)
  • Saia Inc. (Nasdaq: SAIA)

Trucking stocks to invest in.

Best Trucking Stocks Right Now

Now, let’s take a closer look at each of these trucking stocks and why they are a good addition to your portfolio.

No. 5 Old Dominion Freight Line

Old Dominion Freight Line is a less than truckload (LTL) shipping company based in Thomasville, NC. LTL is exactly what it sounds like: a load that is considered less than a full truckload, which is between 24 and 26 pallets. A full truckload trailer is between 48’ and 53’ feet, while Old Dominion’s trailers are between 26’ and 53’.

This trucking stock is worth over $28 billion and its stock has a P/E ratio of 24. It also pays a dividend with a forward yield of 0.47%. Its most recent earnings report showed quarterly revenue of $1.7 billion, a YOY increase of 26%. Net income also showed strong YOY growth at $376 million, up almost 40%. Its share price has roughly doubled since its pandemic low.

No. 4 TFI International

TFI International is a Canadian transportation and logistics company based in Quebec. It provides LTL, package and courier, logistics and truckload services. TFI is the largest LTL provider in Canada and has nearly 50,000 trailers and over 200 straight trucks. It expanded to U.S. parcel services with a 2010 acquisition. Its stock price has increased nearly tenfold from its pandemic low in March 2020.

The company is worth over $8 billion and its stock has a P/E ratio of 15 and an EPS of $6.52. It also pays a forward dividend of 1.14%. Revenue for the quarter ending June 2022 was $2.4 billion compared to $1.84 billion last year. Its net income, however, was down 33% YOY to $277 million . The EBITDA increased from $246 million to $386 million. Its share price has increased over 400% since its pandemic low, one of the largest increases among all trucking stocks.

No. 3 ArcBest Corporation

ArcBest Corporation is a holding company for truckload and LTL freight. Its business also includes household goods moving, freight brokerage and transportation management. Its headquarters is located in Fort Smith, Arkansas. It’s formerly known as Arkansas Best before being renamed to ArcBest in 2014.

ArcBest is valued at just over $1.8 billion and its stock has a P/E ratio of 6 with an EPS of $11.53. It pays a dividend with a forward yield of 0.66%. Its most recent available earnings report, for the quarter ending June 2022, shows revenues of $1.4 million, compared to $949 million last year. Operating income was $137 million, up from just $74 million last year and net income was $102 million, up from $61 million. Its share price has also shown impressive growth since its March 2020 low.

Best Trucking Stocks No. 2 USA Truck Inc.

USA Truck Inc. is a smaller trucking stock with headquarters in Van Buren, Arkansas. This trucking stock provides “capacity solutions” to customers throughout North America and offers both asset and asset-light services. Those include customized truckload, dedicated contract carriage and intermodal and third-party logistics freight management services.

USA Truck’s market cap is just $286 million, but it has a favorable P/E ratio of around 9 and an EPS of $3.69. Its net income has seen a slight decrease for Q2 2022 to $3.2 million, down from $4.2 million last year. Revenue has increased from $170 million to $202 million. Its share price has grown around eight times its pandemic low and analysts expect it to increase quite a bit more over the next year. In fact, it has one of the most favorable outlooks of the trucking stocks on this list.

Best Trucking Stocks No. 1 Saia Inc.

Saia Inc. is an LTL and freight shipping logistics company based in Johns Creek, Georgia. It originated in 1924 with a single vehicle in Louisiana; it was actually founder Louis Saia Jr.’s car with the seats taken out. Since its rather humble beginnings, it has grown to 3 offices, 84 owned facilities and 90 leased service facilities as of 2020. Saia is ranked among the top 10 LTL carriers in the U.S.

The company has a market cap of around $5 billion and its stock has a P/E ratio of 15 with an EPS of $12.63. For Q2 2022, its revenue was $746 million, up from $571 million last year. Its operating income was $146 million, an increase from $82 million last year, and its net income was $109 million versus $62 million last year. Its share price has increased more than 150% since its pandemic low, making it a great addition to your list of trucking stocks to invest in.

The Bottom Line on the Best Trucking Stocks

With continued delays in shipping and supply chain shocks, these trucking stocks could be a valuable addition to your portfolio. But, as always, it’s important to do your own research and due diligence before making any investment decisions. And remember this is just one of the many investment opportunities out there to be explored.