InvestorsHub Logo
Followers 84
Posts 32139
Boards Moderated 85
Alias Born 03/22/2005

Re: None

Thursday, 02/09/2023 7:06:31 PM

Thursday, February 09, 2023 7:06:31 PM

Post# of 229
Old Dominion - >>> 3 Top Trucking Stocks Under Heavy Accumulation

FX Empire

by Lucas Downey

February 6, 2023

Here are three companies under heavy accumulation.

Old Dominion Freight Line Inc. (ODFL) Analysis

First is the less-than-truckload hauler Old Dominion Freight Line (ODFL). The trucking stock is up 30% in 2023.

Healthy institutional accumulation has likely helped lift the shares higher, which you can see via the MAPsignals chart below. Since November there’ve been 6 unusually large volume inflows (green bars):

With a 12-month forward P/E of 30.8, shares could be attractive after a pullback. According to FactSet, the company is estimated to earn $13.30 per share in fiscal year 2024.

One thing is for sure, the shares have been in demand lately.

Knight-Swift Transportation Holdings Inc. (KNX) Analysis

Next up is Knight-Swift Transportation (KNX) which is another trucking company that operates in 3 segments: trucking, logistics, and intermodal. At MAPsignals, we believe in following large institutional flows. With the stock gaining 18% in 2023, we believe healthy accumulation is part of the story.

Since late November there’ve been 8 days where the stock jumped in price alongside outsized volumes. That can mean there’s institutional interest:

The 12-month forward P/E is pegged at 15.2X according to FactSet. Also, the company is expected to earn $4.64 per share in fiscal year 2024.

This unusual trading action suggests investors are expecting upside for the company in 2023.

Schneider National Inc. (SNDR) Analysis

The number 3 trucking firm racing higher this year is Schneider National (SNDR). This company provides transportation and logistics services. The market cap is just over $5.2 billion.

The stock has been an outperformer recently, jumping 26% in 2023. Notably, the shares have seen 4 large accumulation signals since November:

There’s no question the stock could be extended at these levels. However, this is one of the most in-demand trucking stocks according to MAPsignals research.

Strong sector leadership could mean there’s more upside for the group in 2023.

Bottom Line

ODFL, KNX, & SNDR represent 3 of the top trucking stocks so far in 2023. Healthy institutional accumulation signals make these stocks worthy of extra attention.



Join the InvestorsHub Community

Register for free to join our community of investors and share your ideas. You will also get access to streaming quotes, interactive charts, trades, portfolio, live options flow and more tools.