9 Best Trucking Stocks To Buy

4. J.B. Hunt Transport Services Inc. (NASDAQ:JBHT)

Number of Hedge Fund Investors: 39

In terms of revenue, J.B. Hunt Transport Services, Inc. (NASDAQ:JBHT) is one of the leading surface transportation firms in North America. Its main business segments are asset-light truck brokerage (11%), for-hire truckload (6%), heavy goods final-mile delivery (7%), dedicated trucking services that cater to customer-specific fleet needs (28%), and intermodal delivery, which uses Class I rail carriers for the underlying line-haul movement of its owned containers (48% of sales in 2023).

Positive long-term trends for intermodal shipping include shippers’ attempts to reduce transportation costs by converting modes (truck to rail) and secular restraints on the increase of truckload capacity.

One of the Best Freight Stocks, J.B. Hunt Transport Services, Inc. (NASDAQ:JBHT)’s intermodal volume rose 5% year over year in Q3 2024, with eastern network loads rising 3% and transcontinental network loads climbing 7%. The company’s Truckload segment’s operating income rose 6% to $8.2 million, mostly as a result of better network balance and cheaper trailing capacity expenses.

Citi analyst Ariel Rosa maintained a Buy rating on J.B. Hunt Transport Services, Inc. (NASDAQ:JBHT) and increased the price objective from $204 to $227. Despite mixed Q3 financial reports and generally cautious Q4 outlooks, the business claims that confidence in North American transports has “rapidly improved.” Investors are “chasing stocks that have already risen considerably, with companies having to significantly outperform estimates to justify current valuations,” according to Citi officials. On the other hand, there is a growing chance that 2025 earnings will fall short.

Paul Marshall And Ian Wace’s Marshall Wace LLP was the largest stakeholder in the company from among the funds in Insider Monkey’s database. It owns 524,991 shares worth $90.47 million as of Q3.

Parnassus Mid Cap Fund stated the following regarding J.B. Hunt Transport Services, Inc. (NASDAQ:JBHT) in its Q3 2024 investor letter:

“We welcomed J.B. Hunt Transport Services, Inc. (NASDAQ:JBHT) to the portfolio during the quarter. The largest intermodal transportation provider in the country, J.B. Hunt is well positioned to benefit when freight volumes improve. J.B. Hunt is the largest provider of intermodal trucking services in the country. Freight volumes have been in an extended downturn, and we believe that freight volumes are poised to inflect higher and that J.B Hunt’s margins should recover sharply.”