Yahoo Finanza Best Trucking Stocks to Buy for July 2023
The industrial space is trucking higher in 2023.
Here are 3 of the best trucking stocks to buy for July 2023.
Saia, Inc. (SAIA) Analysis
First is transporter Saia, Inc. (SAIA). The stock has rallied 65% in 2023.
This company is on the smaller side with a $9.2B market cap.
The stock has been under accumulation recently which you can see in the MAPsignals chart below. Over the past week, there’ve been 2 unusually large volume inflows (green bars). These are likely institutional footprints:
Heavy demand for a stock can be bullish over the medium-to-longer-term. With a forward P/E of 24.9, shares could be attractive. According to FactSet, the company is estimated to earn $13.93 per share in fiscal year 2024, up from $12.22 estimates in 2023.
High-ranking trucking stocks are attracting capital in 2023.
FedEx Corp. (FDX) Analysis
Next up is FedEx Corp. (FDX) which is a global shipper. Shares are up 45% in 2023.
Look at this, YTD, there’ve been a dozen days where the stock lifted in price alongside chunky volumes. That’s a tailwind powering the stock higher:
The company has a healthy growth profile as earnings are set to ramp to $19.92 per share in fiscal 2025. That’s up from $17.30 earned in 2023.
With a forward P/E pegged at 12.6X, this name could be worth a spot in a trucking-oriented portfolio.
Solid fundamentals and healthy institutional support make this stock a potential opportunity.
Old Dominion Freight Line, Inc. (ODFL) Analysis
The number 3 shipping firm is Old Dominion Freight Line (ODFL). This stock has rallied 30% in 2023.
The chart reveals a more volatile path this year. However, recently the company has attracted Big Money support:
Recent highs are paved with green signals. Don’t fight the Big Money.
When sizing up stocks, it’s important to check the fundamental picture too. The company is expected to earn $12.50 per share in fiscal year 2024, well north of the $10.77 estimated EPS set for 2023.
The forward PE sits at 29.6X, which is not cheap.
This could be a solid addition to a trucking portfolio if shares pullback.
Bottom Line
SAIA, FDX, & ODFL represent 3 of the best trucking stocks for July 2023 in my opinion. Unusual buying pressure plus a favorable fundamental picture, make these stocks worthy of extra attention.
Each of these names have been top-rated at my research firm, MAPsignals. We have a ranking process that showcases high-scoring stocks like these on a weekly basis.
If you want to take your investing to the next level, learn more about the MAPsignals process here.
Follow our free insights here.
Disclosure: As of the time of this writing, the author holds no positions in SAIA, FDX, or ODFL at the time of publication.
This article was originally posted on FX Empire
