9 Best Trucking Stocks To Buy

6. Saia Inc. (NASDAQ:SAIA) 

Number of Hedge Fund Holders: 32

Saia, Inc. (NASDAQ:SAIA) is one of the largest less-than-truckload carriers in the United States, with more than 200 sites and a fleet of over 6,200 tractors and 20,800 trailers. As a national LTL carrier, the company provides time-definite and expedited services for packages weighing between 100 and 10,000 pounds. It is one of the best providers in terms of profitability.

Saia, Inc. (NASDAQ:SAIA)’s revenue for the third quarter of 2024 was $842.1 million, an 8.6% year-over-year growth, making it one of the Best Freight Stocks. Strong operational momentum was evident in the 8.5% growth in LTL shipments and the 7.7% growth in tonnage per workday overall. Furthermore, LTL revenue per hundredweight and per shipment, excluding fuel surcharges, rose by 1.7% and 0.9% YoY, respectively. Additionally, operating cash flow increased 45.54% year over year.

In honor of its 100th anniversary, the company announced on December 18, 2024, that it will be partnering with Tesla to launch electric semi-trucks, showcasing its commitment to sustainability and innovation. The trucks’ remarkable effectiveness and performance established Saia, Inc. (NASDAQ:SAIA) as a pioneer in sustainable logistics.

Brian Ossenbeck, an analyst at JPMorgan, increased the firm’s price objective for Saia, Inc. (NASDAQ:SAIA) from $499 to $566. The firm claims that less-than-truckload equities “have rapidly re-rated once again” in response to the election results and the perception that the freight recession is ending.” The analyst informs investors in a research note that sentiment in the sub-sector is still favorable and that JPMorgan considers less-than-truckload to be the most preferred category in transport, with positioning continuing to move away from U.S. railroads. Models were modified to better represent November’s operating performance.

Israel Englander’s Millennium Management was the largest stakeholder in the company from among the funds in Insider Monkey’s database. It owns 210,359 shares worth $91.98 million as of Q3.