9 Best Trucking Stocks To Buy

3. United Parcel Service Inc. (NYSE:UPS)

Number of Hedge Fund Investors: 43 

As the biggest package delivery company in the world and one of the Best Freight Stocks, United Parcel Service, Inc. (NYSE:UPS) operates a huge fleet of over 500 aircraft, 100,000 vehicles, and hundreds of sorting facilities to deliver an average of over 22 million products daily to homes and businesses globally. About 64% of the company’s overall revenue comes from domestic US package operations, with overseas packages accounting for 20%. The rest consists of contract logistics, truckload brokerage, and air and ocean freight forwarding. The business is presently looking at “strategic alternatives” for Coyote, the truck brokerage business it purchased in 2015.

United Parcel Service, Inc. (NYSE:UPS) reported $22.2 billion in revenue for the third quarter of 2024, a 5.6% YoY increase. The U.S. Domestic Segment increased by 5.8% year on year, driven by a 6.5% increase in average daily volume. The International Segment rose by 3.4% year on year to $4.41 billion, while Supply Chain Solutions climbed by 8.0% year on year to $3.38 billion, primarily due to growth in air and ocean forwarding and USPS air cargo onboarding.

Oppenheimer maintained an Outperform rating on United Parcel Service, Inc. (NYSE:UPS) shares and increased the price target from $140 to $146. The company reported that its adjusted EPS for the third quarter of $1.76 exceeded both its expectation and the consensus of $1.60 and $1.63, respectively. According to Oppenheimer, UPS is now projecting $91.0 billion in consolidated sales and a 9.6% adjusted operating margin in 2024.

Ken Griffin’s Citadel Investment Group was the largest stakeholder in the company from among the funds in Insider Monkey’s database. It owns 3.4 million shares worth $469.17 million as of Q3.