XPO Stock (NYSE:XPO), Trade Ideas

Following the spinoff of its contract logistics division (GXO) in 2021 and freight brokerage operations (RXO) in 2022, XPO is moving closer to becoming a pure-play asset-based less-than-truckload carrier. On a pro forma basis for the November RXO spinoff, We estimate LTL shipping now makes up 60% of total revenue, with XPO's European truckload and LTL operations making up 40%. That said, XPO's LTL segment EBITDA mix is much higher than 60%. We believe XPO intends to divest its European trucking division once it finds the right buyer.

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Less-than-truckload carrier Estes said Monday it will start opening terminals it has acquired from defunct Yellow Corp. as part of a &#34;national expansion.&#34;

Estes to Open at Least 20 Terminals This Year

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Less-than-truckload carrier XPO (NYSE: XPO) announced Wednesday it has begun opening the service centers it acquired from bankrupt Yellow Corp (OTC: YELLQ).

XPO purchased 26 owned terminals and two le

XPO Starts Opening Terminals Acquired from Yellow

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What Happened: A Donald Trump-supporting trucker who goes by Chicago Ray on X.com posted a video on Friday stating that he was planning to refuse delivery routes to New York City starting this week.

Truckers For Trump Hit The Brakes On Deliveries To New York City Over Fraud Ruling

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Shares of trucking, transportation and freight stocks are trading lower following weak earnings from J.B. Hunt and weak guidance from Knight-Swift.

<p>Less-than-truckload carrier Estes said Monday it will start opening terminals it has acquired from defunct Yellow Corp. as part of a "national expansion."</p>

<p>The carrier acquired 24 service centers for $249 million at <strong>Yellow's</strong> (OTC: <a class="ticker" href="https://www.benzinga.com/stock/yellq#OTC">YELLQ</a>) first auction, which concluded in early December. It picked up five leased properties for $35 million at a second auction a couple of weeks later.</p>

<p>A more than $1.5 billion stalking horse bid from the company in September set the minimum valuation for Yellow's real estate portfolio ahead of the auctions. That bid eclipsed an offer from rival carrier <strong>Old Dominion Freight Line</strong> (NASDAQ: <a class="ticker" href="https://www.benzinga.com/stock/odfl#NASDAQ">ODFL</a>).</p>

<p>Estes opened a 58-door terminal in Florence, South Carolina, last week. It said it will soon open locations in Reno, Nevada (54 doors), and Cinnaminson, New Jersey (92 doors). The latter two properties were acquired from Yellow's estate.<br /><script type="text/javascript">
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<p>In total, Estes plans to open at least 20 terminals this year, the first eight by the end of June. The company will add locations in Tacoma, Washington; San Fernando Valley, California; Detroit; and Austin, Texas, among other areas this year, totaling 985 doors.</p>

<p>Estes has also added more than 130 tractors and 6,000 trailers, as well as other equipment, from Yellow's former locations.</p>

<p>"These acquisitions represent the single biggest influx of terminals and equipment in Estes' recent history" said Webb Estes, the company's president and chief operating officer.</p>

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<p>Last week, <strong>XPO</strong> (NYSE: <a class="ticker" href="https://www.benzinga.com/stock/xpo#NYSE">XPO</a>) said it had opened three of the 28 locations it acquired from Yellow as part of an $870 million acquisition, and <strong>Saia</strong> (NASDAQ: <a class="ticker" href="https://www.benzinga.com/stock/saia#NASDAQ">SAIA</a>) said it had begun the relaunch of the 28 locations valued at $244 million that it purchased from the estate.</p>

<p>"Acquiring these terminals was just step one — we're now focused on putting them to work as quickly as possible to better serve our customers, which is exactly what we're doing with these first ones" said Carrie Johnstone, Estes' vice president of customer experience and innovation.</p>


<p>The post <a href="https://www.freightwaves.com/news/estes-to-open-at-least-20-terminals-this-year">Estes to open at least 20 terminals this year</a> appeared first on <a href="https://www.freightwaves.com">FreightWaves</a>.</p>

<p>Benchmark  analyst Christopher Kuhn   maintains XPO (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/XPO#NYSE">XPO</a>) with a Buy and raises the price target from $125 to $140.</p>


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Benchmark Maintains Buy on XPO, Raises Price Target to $140

<p><strong>XPO's</strong> (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/XPO#NYSE">XPO</a>) short percent of float has risen 3.16% since its last report. The company recently reported that it has <strong>4.97 million shares sold short</strong>, which is 4.9% of all regular shares that are available for trading. Based on its trading volume, <strong>it would take traders 4.46 days to cover their short positions on average.</strong></p>
<h3>Why Short Interest Matters</h3>
<p>Short interest is the number of shares that have been sold short but have not yet been covered or closed out. <a href="https://www.benzinga.com/money/how-to-short-a-stock/">Short selling</a> is when a trader sells shares of a company they do not own, with the hope that the price will fall. Traders make money from short selling if the price of the stock falls and they lose if it rises.</p>
<p>Short interest is important to track because it can act as an indicator of market sentiment towards a particular stock. An increase in short interest can signal that investors have become more bearish, while a decrease in short interest can signal they have become more bullish.</p>
<p><strong>See Also:</strong> <a href="https://www.benzinga.com/short-interest"><strong>List of the most shorted stocks</strong></a></p>
<h3>XPO Short Interest Graph (3 Months)</h3>
<p><img src="https://www.benzinga.com/files/images/story/2024/1713273317_0.png" alt="short_fig" /></p>
<p>As you can see from the chart above the percentage of shares that are sold short for XPO has grown since its last report. This does not mean that the stock is going to fall in the near-term but traders should be aware that more shares are being shorted.</p>
<h3>Comparing XPO's Short Interest Against Its Peers</h3>
<p>Peer comparison is a popular technique amongst analysts and investors for gauging how well a company is performing. A company's peer is another company that has similar characteristics to it, such as industry, size, age, and financial structure. You can find a company's peer group by reading its 10-K, proxy filing, or by doing your own similarity analysis.</p>
<p>According to <a href="https://pro.benzinga.com/">Benzinga Pro</a>, XPO's peer group average for short interest as a percentage of float is 4.56%, which means the company has <strong>more</strong> short interest than most of its peers.</p>
<p>Did you know that increasing short interest can actually be <strong>bullish</strong> for a stock? <a href="https://www.benzinga.com/money/how-to-make-money-on-a-short-squeeze/"><strong>This post by Benzinga Money explains how you can profit from it.</strong></a></p>
<p><em>This article was generated by Benzinga's automated content engine and was reviewed by an editor.</em></p>


Short Sellers

Short Ideas

(XPO) - Analyzing XPO's Short Interest

<p>XPO (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/XPO#NYSE">XPO</a>) has outperformed the market over the past 5 years by 28.44% on an annualized basis producing an average annual return of 40.15%. Currently, XPO has a market capitalization of $14.48 billion. </p>
<p><strong>Buying $100 In XPO:</strong> If an investor had bought $100 of XPO stock 5 years ago, it would be worth <strong>$545.39</strong> today based on a price of $124.48 for XPO at the time of writing.</p>
<h3>XPO's Performance Over Last 5 Years</h3>
<p><img src="https://www.benzinga.com/files/images/story/2024/1713205823_0.png" alt="comp_fig" /></p>
<p>Finally -- what's the point of all this? The key insight to take from this article is to note how much of a difference compounded returns can make in your cash growth over a period of time.</p>
<p><em>This article was generated by Benzinga's automated content engine and reviewed by an editor.</em></p>


$100 Invested In This Stock 5 Years Ago Would Be Worth $500 Today

<p>B of A Securities  analyst Ken Hoexter   maintains XPO (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/XPO#NYSE">XPO</a>) with a Buy and raises the price target from $137 to $139.</p>


B of A Securities Maintains Buy on XPO, Raises Price Target to $139

<p>Raymond James  analyst Patrick Tyler Brown   maintains XPO (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/XPO#NYSE">XPO</a>) with a Outperform and raises the price target from $130 to $145.</p>


Raymond James Maintains Outperform on XPO, Raises Price Target to $145

<div>Less-than-truckload carrier <strong>XPO</strong> (NYSE: <a class="ticker" href="https://www.benzinga.com/stock/xpo#NYSE">XPO</a>) announced Wednesday it has begun opening the service centers it acquired from bankrupt <strong>Yellow Corp</strong> (OTC: <a class="ticker" href="https://www.benzinga.com/stock/yellq#OTC">YELLQ</a>).</div>

<p>XPO purchased 26 owned terminals and two leased locations from Yellow in the estate's first auction in December. XPO's $870 million bid for the terminals represented the largest allocation of Yellow's properties at the time. XPO was not active in a second auction where privately held Estes added five locations to bring its total acquisitions from Yellow to 29 properties. However, the value of those sites ($284 million) is one-third that of XPO's acquisition.</p>

<p>The three facilities XPO has opened are in the Nashville, Tennessee area; Grand Junction, Colorado; and Nogales, Arizona. The Nashville location has 100 doors and is the first of two sites that the company will open in that market during the second quarter.</p>

<p>"Our first three acquired facilities have launched on schedule, following our landmark investment in our network" stated XPO CEO Mario Harik in a news release. "With a deeper presence in strategic markets, we are introducing new premium services and expanding our existing offerings, such as our cross-border service with Mexico."<br /><script type="text/javascript">
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<p>In total, XPO acquired approximately 2,900 doors from Yellow's estate, which will complement the roughly 17,000 it was operating prior to the deal. The entirety of the acquisition is expected to produce a 10% to 15% increase in total door capacity as some of the additions are not fully incremental. XPO will be replace existing facilities with larger locations in some markets.</p>

<p>The release said the new space will enhance operational efficiencies and improve linehaul capabilities, ultimately improving service metrics.</p>

<p>On its fourth-quarter call in February, XPO said it planned to open the first 12 locations within three to six months, the next dozen in six to 12 months and the remaining sites in 12 to 18 months. Upgrades, repairs and rebranding need to be performed before the sites can be relaunched into service.</p>

<p>On the February call, management said it had opened a dozen service centers in recent quarters and those sites were accretive within 30 to 60 days. In totality, the acquired terminals will have little impact on the carrier's operating ratio this year even as depreciation and amortization expenses increase. The sites are forecast to be accretive to earnings in 2025, with the guide assuming incremental margins in the 30% to 40% range.<br /><script type="text/javascript">
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<p>XPO has been very aggressive in seizing the freight opportunity created by Yellow's closure.</p>

<p>The company continues to post tonnage gains ahead of most peers despite industrywide declines in weight per shipment. It showed positive volume trends in a first-quarter update provided a month ago, following tonnage and yield growth in the fourth quarter. It has forecast first-quarter yield (excluding fuel surcharges) to again increase by 10% year over year.</p>

<p>On Monday, LTL competitor <strong>Saia</strong> (NASDAQ: <a class="ticker" href="https://www.benzinga.com/stock/saia#NASDAQ">SAIA</a>) said it has opened two new terminals, including a location it acquired from Yellow. It acquired a total of 28 terminals valued at $244 million.</p>

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<p>With the three openings, XPO now operates 297 service centers.</p>


<p>The post <a href="https://www.freightwaves.com/news/xpo-starts-opening-terminals-acquired-from-yellow">XPO starts opening terminals acquired from Yellow</a> appeared first on <a href="https://www.freightwaves.com">FreightWaves</a>.</p>

<p>Oppenheimer  analyst Scott Schneeberger   maintains XPO (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/XPO#NYSE">XPO</a>) with a Outperform and raises the price target from $130 to $140.</p>


Oppenheimer Maintains Outperform on XPO, Raises Price Target to $140

<p><strong>XPO's</strong> (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/XPO#NYSE">XPO</a>) short percent of float has fallen 3.97% since its last report. The company recently reported that it has <strong>5.15 million shares sold short</strong>, which is 5.08% of all regular shares that are available for trading. Based on its trading volume, <strong>it would take traders 4.13 days to cover their short positions on average.</strong></p>
<h3>Why Short Interest Matters</h3>
<p>Short interest is the number of shares that have been sold short but have not yet been covered or closed out. <a href="https://www.benzinga.com/money/how-to-short-a-stock/">Short selling</a> is when a trader sells shares of a company they do not own, with the hope that the price will fall. Traders make money from short selling if the price of the stock falls and they lose if it rises.</p>
<p>Short interest is important to track because it can act as an indicator of market sentiment towards a particular stock. An increase in short interest can signal that investors have become more bearish, while a decrease in short interest can signal they have become more bullish.</p>
<p><strong>See Also:</strong> <a href="https://www.benzinga.com/short-interest"><strong>List of the most shorted stocks</strong></a></p>
<h3>XPO Short Interest Graph (3 Months)</h3>
<p><img src="https://www.benzinga.com/files/images/story/2024/1710352817_0.png" alt="short_fig" /></p>
<p>As you can see from the chart above the percentage of shares that are sold short for XPO has declined since its last report. This does not mean that the stock is going to rise in the near-term but traders should be aware that less shares are being shorted.</p>
<h3>Comparing XPO's Short Interest Against Its Peers</h3>
<p>Peer comparison is a popular technique amongst analysts and investors for gauging how well a company is performing. A company's peer is another company that has similar characteristics to it, such as industry, size, age, and financial structure. You can find a company's peer group by reading its 10-K, proxy filing, or by doing your own similarity analysis.</p>
<p>According to <a href="https://pro.benzinga.com/">Benzinga Pro</a>, XPO's peer group average for short interest as a percentage of float is 3.49%, which means the company has <strong>more</strong> short interest than most of its peers.</p>
<p>Did you know that increasing short interest can actually be <strong>bullish</strong> for a stock? <a href="https://www.benzinga.com/money/how-to-make-money-on-a-short-squeeze/"><strong>This post by Benzinga Money explains how you can profit from it.</strong></a></p>
<p><em>This article was generated by Benzinga's automated content engine and was reviewed by an editor.</em></p>


Peering Into XPO's Recent Short Interest

<p>JP Morgan has decided to maintain its Overweight rating of XPO (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/XPO#NYSE">XPO</a>) and raise its price target from $122.00 to $144.00.</p>
<p>Shares of XPO are trading up 6.32% over the last 24 hours, at $130.17 per share.</p>
<p>A move to $144.00 would account for a 10.63% increase from the current share price.</p>
<h3>About XPO</h3>
<p>Following the spinoff of its contract logistics division (GXO) in 2021 and freight brokerage operations (RXO) in 2022, XPO is moving closer to becoming a pure-play asset-based less-than-truckload carrier. On a pro forma basis for the November RXO spinoff, We estimate LTL shipping now makes up 60% of total revenue, with XPO's European truckload and LTL operations making up 40%. That said, XPO's LTL segment EBITDA mix is much higher than 60%. We believe XPO intends to divest its European trucking division once it finds the right buyer.</p>
<h3>About Analyst Ratings</h3>
<p>Analysts work in banking and financial systems and typically specialize in reporting for stocks or defined sectors. Analysts may attend company conference calls and meetings, research company financial statements, and communicate with insiders to publish "analyst ratings" for stocks. Analysts typically rate each stock once per quarter.</p>
<p>Some analysts will also offer forecasts for metrics like growth estimates, earnings, and revenue to provide further guidance on stocks. Investors who use analyst ratings should note that this specialized advice comes from humans and may be subject to error.</p>
<p>If you want to keep track of which analysts are outperforming others, you can view updated analyst ratings along with analyst success scores in <a href="https://benzinga.grsm.io/register174">Benzinga Pro</a>.</p>
<p><em>This article was generated by Benzinga's automated content engine and reviewed by an editor.</em></p>


JP Morgan Maintains Overweight Rating for XPO: Here's What You Need To Know

XPO shares are trading higher after JP Morgan maintained an Overweight rating on the stock and raised its price target from $122 to $140. Also, Barclays maintained an Overweight rating on the stock and raised its price target from $125 to $145.

<p>Barclays  analyst Brandon Oglenski   maintains XPO (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/XPO#NYSE">XPO</a>) with a Overweight and raises the price target from $125 to $145.</p>


Barclays Maintains Overweight on XPO, Raises Price Target to $145

<p>JP Morgan  analyst Brian Ossenbeck   maintains XPO (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/XPO#NYSE">XPO</a>) with a Overweight and raises the price target from $122 to $140.</p>


JP Morgan Maintains Overweight on XPO, Raises Price Target to $140

<p>TD Cowen  analyst Jason Seidl   maintains XPO (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/XPO#NYSE">XPO</a>) with a Outperform and raises the price target from $129 to $136.</p>


TD Cowen Maintains Outperform on XPO, Raises Price Target to $136

<p>B of A Securities  analyst Ken Hoexter   maintains XPO (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/XPO#NYSE">XPO</a>) with a Buy and raises the price target from $132 to $137.</p>


B of A Securities Maintains Buy on XPO, Raises Price Target to $137

XPO Announces LTL Tonnage Per Day Increased 3.5%, As Compared With February 2023

<p><strong>What Happened:&nbsp;</strong>A<strong> Donald Trump</strong>-supporting trucker who goes by Chicago Ray on X.com posted a video on Friday stating that he was planning to <a href="https://x.com/Chicago1Ray/status/1759615339422249302?s=20" style="text-decoration-line:none">refuse delivery routes to New York City starting this week</a>.</p>
<p>Ray said in the video that he spoke to about 10 other drivers who also were planning to boycott their routes to NYC over the Manhattan court&rsquo;s verdict against Trump, in which the former president was ordered to pay more than $300 million stemming from fraud charges.&nbsp;</p>
<p><strong>Basically:&nbsp;</strong>On Monday, #TruckersForTrump was <a href="https://twitter.com/search?q=%23TruckersForTrump&amp;src=typed_query&amp;f=top" style="text-decoration-line:none">trending on X</a>, with hundreds of posts, and at least dozens of videos from truckers posting in support of Ray&rsquo;s boycott. It&rsquo;s unclear whether the boycotts will cause a material disruption to New York&rsquo;s supply chain, but it does appear to be gaining traction, at least on social media.&nbsp;</p>
<p>&quot;I&#39;m in Wisconsin and I&#39;m hearing guys refusing loads,&rdquo;<a href="https://x.com/Chicago1Ray/status/1759615339422249302?s=20"> Ray posted on X Monday</a>. &ldquo;This could take longer than a week.... my advice for New Yorkers is start stocking up... there&#39;s millions of Truckers for Trump millions of us .. leave Trump TF alone.&rdquo;</p>
<p><em>Read Also:&nbsp;<a href="https://www.benzinga.com/news/24/02/37192966/trumps-355m-fine-3-year-ban-is-what-happens-if-insanity-and-outrage-had-a-baby-former-white-house-pr">Trump&#39;s $355M Fine, 3-Year Ban Is &#39;What Happens If Insanity And Outrage Had A Baby&#39;: Former White House Press Secretary</a></em></p>
<p>Trump appeared to endorse Ray&rsquo;s message by sharing a Daily Mail headline about the boycott on Truth Social, Trump&rsquo;s Twitter competitor. Another trucker, &ldquo;The Real Trucker Jake&rdquo; posted a video on Sunday declaring his support for the boycott, <a href="https://x.com/bigskyfit/status/1759221198611976275?s=20" style="text-decoration-line:none">which now has more than 1 million views on X.com.</a></p>
<p><strong>The Data:&nbsp;</strong>FreightWaves, an organization that tracks trucking news and data, said that if there is a substantial boycott, it will show up in the company&rsquo;s SONAR platform. According to an article posted on Monday, there have been no indications in<a href="https://www.freightwaves.com/news/trump-supporting-truckers-boycott-loads-to-new-york-city"> FreightWaves data that show trucking boycotts to NYC.&nbsp;</a></p>
<p><strong>Market Impact:&nbsp;</strong>If the boycott does pick up steam and starts to disrupt routes to NYC, it could impact large trucking companies such as <strong>XPO Inc</strong> (NYSE: <a class="ticker" href="https://www.benzinga.com/stock/xpo#NYSE">XPO</a>), <strong>Old Dominion Freight Line Inc </strong>(NASDAQ: <a class="ticker" href="https://www.benzinga.com/stock/odfl#NASDAQ">ODFL</a>) and more. If enough independent truckers refuse service to NYC, it could increase the rate per mile on routes to NYC and potentially even drive inflation higher by disrupting the supply chain.</p>
<p><em>Now Read:&nbsp;<a href="https://www.benzinga.com/markets/equities/24/02/37203641/elon-musk-says-10-fold-increase-in-deliveries-doable-but-theres-a-catch-it-is-an-immense-amount-">Elon Musk Says 10-Fold Increase In Deliveries &#39;Doable,&#39; But There&#39;s A Catch: &#39;It Is An Immense Amount Of Work&#39;</a></em></p>
<p><em>Image created using artificial intelligence with MidJourney.</em></p>


XPO shares are trading lower after Morgan Stanley downgraded the stock from Equal-Weight to Underweight.

<p>Top Wall Street analysts changed their outlook on these top names. For a complete view of all analyst rating changes, including upgrades and downgrades, please see our <a href="https://www.benzinga.com/analyst-ratings/">analyst ratings page</a>.</p>
<ul>
<li>UBS raised the price target for <strong> Urban Outfitters, Inc.</strong> (NASDAQ: <a class="ticker" href="https://www.benzinga.com/stock/urbn#NASDAQ">URBN</a>) from $21 to $41. UBS analyst Jay Sole upgraded the stock from Sell to Neutral. Urban Outfitters shares gained 2.2% to close at $42.53 on Friday. <a href="https://www.benzinga.com/quote/URBN/analyst-ratings">See how other analysts view this stock.</a></li>
<li>Goldman Sachs boosted <strong> United Therapeutics Corporation </strong> (NASDAQ: <a class="ticker" href="https://www.benzinga.com/stock/uthr#NASDAQ">UTHR</a>) price target from $213 to $215. Goldman Sachs analyst Chris Shibutani upgraded the stock from Sell to Neutral. United Therapeutics shares rose 0.3% to close at $212.34 on Friday. <a href="https://www.benzinga.com/quote/UTHR/analyst-ratings">See how other analysts view this stock</a>.</li>
<li>Deutsche Bank boosted the price target for <strong> Mohawk Industries, Inc. </strong> (NYSE: <a class="ticker" href="https://www.benzinga.com/stock/mhk#NYSE">MHK</a>) from $98 to $152. Deutsche Bank analyst Joe Ahlersmeyer upgraded the stock from Hold to Buy. Mohawk Industries shares gained 0.4% to close at $110.01 on Friday. <a href="https://www.benzinga.com/quote/MHK/analyst-ratings">See how other analysts view this stock</a>.</li>
<li>Keybanc raised <strong> NerdWallet, Inc. </strong> (NASDAQ: <a class="ticker" href="https://www.benzinga.com/stock/nrds#NASDAQ">NRDS</a>) price target from $18 to $20. Keybanc analyst Justin Patterson maintained an Overweight rating. NerdWallet shares rose 2% to close at $15.52 on Friday. <a href="https://www.benzinga.com/quote/NRDS/analyst-ratings">See how other analysts view this stock</a>.</li>
<li>Piper Sandler boosted the price target for <strong> Teva Pharmaceutical Industries Limited </strong> (NYSE: <a class="ticker" href="https://www.benzinga.com/stock/teva#NYSE">TEVA</a>) from $12 to $19. Piper Sandler analyst David Amsellem upgraded the stock from Neutral to Overweight. Teva Pharmaceutical shares fell 0.7% to close at $12.01 on Friday. <a href="https://www.benzinga.com/quote/TEVA/analyst-ratings">See how other analysts view this stock</a>.</li>
<li>Keefe, Bruyette &amp; Woods raised the price target for <strong> Assurant, Inc. </strong> (NYSE: <a class="ticker" href="https://www.benzinga.com/stock/aiz#NYSE">AIZ</a>) from $170 to $182. Keefe, Bruyette &amp; Woods analyst Thomas McJoynt-Griffith downgraded the stock from Outperform to Market Perform. Assurant shares fell 0.1% to close at $174.49 on Friday. <a href="https://www.benzinga.com/quote/AIZ/analyst-ratings">See how other analysts view this stock</a>.</li>
<li>Stifel increased <strong> Viavi Solutions Inc. </strong> (NASDAQ: <a class="ticker" href="https://www.benzinga.com/stock/viav#NASDAQ">VIAV</a>) price target from $10 to $13. Stifel analyst Ruben Roy upgraded the stock from Hold to Buy. Viavi Solutions shares gained 2.4% to close at $8.91 on Friday. <a href="https://www.benzinga.com/quote/VIAV/analyst-ratings">See how other analysts view this stock.</a></li>
<li>Barclays cut <strong> Rivian Automotive, Inc. </strong> (NASDAQ: <a class="ticker" href="https://www.benzinga.com/stock/rivn#NASDAQ">RIVN</a>) price target from $25 to $16. Barclays analyst Dan Levy downgraded the stock from Overweight to Equal-Weight. Rivian Automotive shares gained 3.5% to close at $16.68 on Friday. <a href="https://www.benzinga.com/quote/RIVN/analyst-ratings">See how other analysts view this stock.</a></li>
<li>Baird raised <strong> Construction Partners, Inc. </strong> (NASDAQ: <a class="ticker" href="https://www.benzinga.com/stock/road#NASDAQ">ROAD</a>) price target from $46 to $50. Baird analyst Andrew Wittmann downgraded the stock from Outperform to Neutral. Construction Partners shares fell 7% to close at $46.81 on Friday. <a href="https://www.benzinga.com/quote/ROAD/analyst-ratings">See how other analysts view this stock.</a></li>
<li>Morgan Stanley boosted <strong> XPO, Inc. </strong> (NYSE: <a class="ticker" href="https://www.benzinga.com/stock/xpo#NYSE">XPO</a>) price target from $75 to $80. Morgan Stanley analyst Ravi Shanker downgraded the stock from Equal-Weight to Underweight. XPO shares gained 2.4% to close at $120.84 on Friday. <a href="https://www.benzinga.com/quote/XPO/analyst-ratings">See how other analysts view this stock.</a></li>
</ul>
<p>&nbsp;</p>
<p>Check This Out: <a href="https://www.benzinga.com/news/earnings/24/02/37062484/waste-management-goodyear-tire-and-3-stocks-to-watch-heading-into-monday"><em> Waste Management, Goodyear Tire And 3 Stocks To Watch Heading Into Monday </em></a></p>


Pre-Market Outlook

NRDS

RIVN

ROAD

TEVA

URBN

UTHR

VIAV

Teva Pharmaceutical To Rally Around 58%? Here Are 10 Top Analyst Forecasts For Monday

<p><a href="https://investorplace.com">InvestorPlace - Stock Market News, Stock Advice &amp; Trading Tips</a></p>
<p>There are some top transportation stocks to buy for March this year. Despite the allure of sexy stocks like <strong>Nvidia </strong>(NASDAQ:<span><a href="https://investorplace.com/stock-quotes/nvda-stock-quote/"><strong>NVDA</strong></a></span>) or <strong>Palantir </strong>(NYSE:<span><a href="https://investorplace.com/stock-quotes/pltr-stock-quote/"><strong>PLTR</strong></a></span>) taking up much of the air time in the financial media, these companies are solid options that have recently entered into buying zones. AI and semiconductor industries, respectively, could be bubbles, or at least have bubble-like qualities, which could lead to an eventual correction. Therefore, investing in some of those boring top transportation stocks to buy could be a valuable hedge if the house of cards falls down.</p>



<p>These logistics stocks can be considered blue chips, in my opinion. That is thanks to their longstanding operations, competitive moats and ability to keep their free cash flows ticking quarter over quarter. Furthermore, many of the companies on this list pay juicy dividends in addition to their predicted capital appreciation in the future.</p>



<p>So, here are seven top transportation stocks to buy for March this year.</p>



<h2>Knight-Swift Transportation (KNX)</h2>



<div><img width="300" height="169" src="https://investorplace.com/wp-content/uploads/2019/11/knight_swift_knx1600-300x169.jpg" alt="Knight Transportation truck"><div>Source: Thomas Trompeter / Shutterstock.com</div></div><p><strong>Knight-Swift Transportation</strong> (NYSE:<span><a href="https://investorplace.com/stock-quotes/knx-stock-quote/"><strong>KNX</strong></a></span>) operates freight transportation services in the U.S. and Mexico.&nbsp;</p>



<p>I like KNX stock since it&rsquo;s a contrarian play I think could pay off for investors. KNX stock <a href="https://finance.yahoo.com/news/knight-swift-transportation-holdings-inc-192715828.html">faced significant headwinds</a> in Q4 2023. The company reported a steep decline in operating income by 91% compared to Q4 2022, primarily due to a significant operating loss in third-party insurance. That contributed to a net loss of $10.7 million for the quarter.</p>



<p>But looking ahead, KNX sees a slight sequential decline in truckload margins but expects improvements in the second quarter. The company projects mid-single-digit year-over-year increases in truckload miles per tractor.</p>



<p>Still, the market appears to remain bullish on the company&rsquo;s prospects overall, as it has gained 72% in the past five years and dipped around 6% over the past year. Its operating losses are a short-term headwind, and it is on a strong path to recovery.</p>



<h2>XPO (XPO)</h2>



<div><img width="300" height="169" src="https://investorplace.com/wp-content/uploads/2020/01/xpo-stock-300x169.jpg" alt="A shot of XPO Logistics (XPO) trucks in San Francisco, California."><div>Source: Sundry Photography/Shutterstock.com</div></div><p><strong>XPO</strong> (NYSE:<span><a href="https://investorplace.com/stock-quotes/xpo-stock-quote/"><strong>XPO</strong></a></span>) offers freight transportation services across the United States, North America, the United Kingdom and Europe.</p>



<p>I think XPO has good momentum potential. That is because a month ago, the company <a href="https://www.fool.com/investing/2024/02/07/why-xpo-stock-is-accelerating-today/">made headlines</a> with its financial results that I believe will continue into this year. XPO&rsquo;s standout performance in the fourth quarter includes surpassing analyst estimates with earnings per share of $0.77 on revenue of $1.94 billion, reaching a 6% year-over-year revenue growth. That achievement was accompanied by a 28% increase in adjusted EBITDA compared to the prior year, alongside a significant improvement in operating ratio, reaching 86.5%.</p>



<p>Wall Street also sees <a href="https://stockanalysis.com/stocks/xpo/forecast/">big things</a> in the making for XPO, as its revenue is forecasted to grow 7.94% to 8.4 billion this year, while its EPS is expected to leap 118% to 3.49. These qualities make XPO one of those top transportation stocks for investors to consider.</p>



<h2>American Airlines Group (AAL)</h2>



<div><img width="300" height="169" src="https://investorplace.com/wp-content/uploads/2020/03/americanairlines-300x169.jpg" alt="American Airlines plane on ramp in Chicago Airport. American Airlines is amongst the airlines cancelling flights"><div>Source: GagliardiPhotography / Shutterstock.com</div></div><p>In 2023, <strong>American Airlines Group</strong> (NASDAQ:<span><a href="https://investorplace.com/stock-quotes/aal-stock-quote/"><strong>AAL</strong></a></span>)&nbsp;reported a <a href="https://seekingalpha.com/article/4641898-american-airlines-group-inc-aal-q3-2023-earnings-call-transcript">strong reduction in total debt,</a> approximately $10.9 billion from its peak levels in 2021, aligning with its goal of reducing total debt by $15 billion by the end of 2025. That debt reduction was highlighted by a proactive decrease in 2025 maturities by $2.3 billion.</p>



<p>Meanwhile, for the future, AAL outlined its financial and operational guidance for 2024, projecting an <a href="https://news.aa.com/news/news-details/2024/American-Airlines-reports-fourth-quarter-and-full-year-2023-financial-results-CORP-FI-01/default.aspx">adjusted loss per diluted share</a> between -$0.15 and -$0.35 for the first quarter. For the full year, it expects adjusted earnings per diluted share to be between $2.25 and $3.25.&nbsp;</p>



<p>Now could be a good time to pick up shares of AAL as <a href="https://stockanalysis.com/stocks/aal/forecast/">Wall Street&rsquo;s consensus</a> also mirrors AAL management&rsquo;s forecasts. It has a rating of Buy, with a predicted 21.68% upside for its stock price.</p>



<h2>FedEx (FDX)</h2>



<a href="https://investorplace.com/wp-content/uploads/2021/05/mm_fedex.jpg"><img width="300" height="168" src="https://investorplace.com/wp-content/uploads/2021/05/mm_fedex-300x168.jpg" alt="fedex self driving delivery car"></a><p><strong>FedEx </strong>(NYSE:<span><a href="https://investorplace.com/stock-quotes/fdx-stock-quote/"><strong>FDX</strong></a></span>) has projected a flat to low-single-digit-percent revenue growth <a href="https://investors.fedex.com/news-and-events/investor-news/investor-news-details/2023/FedEx-Delivered-Fourth-Quarter-Fiscal-2023-Revenue-of-21.9-Billion-Diluted-EPS-of-6.05-and-Adjusted-Diluted-EPS-of-4.94/default.aspx">year over year,</a> with earnings per diluted share estimated between $15 to $17 before specific accounting adjustments.&nbsp;</p>



<p>While FDX&rsquo;s projection may sound unimpressive, it&rsquo;s important to note that the company is focused on improving its diluted EPS for investors. It plans to achieve that through a combination of cost-cutting, stock buybacks and CAPEX aimed at long-term accretion.<br><br>For instance, throughout fiscal 2023, FDX returned approximately $2.7 billion to stockholders through stock repurchases and dividend payments. For fiscal 2024, it <a href="https://investors.fedex.com/news-and-events/investor-news/investor-news-details/2023/FedEx-Delivered-Fourth-Quarter-Fiscal-2023-Revenue-of-21.9-Billion-Diluted-EPS-of-6.05-and-Adjusted-Diluted-EPS-of-4.94/default.aspx">plans to repurchase</a> $2 billion of its common stock and has announced a 10% increase in its annual dividend rate. Its div yield is currently around 2% at the time of writing.<br><br>Sometimes, it pays for a company to take their foot off the gas for a bit while they iron out the operational kinks before diverting focus back to making sales. This appears to be a good strategy for FDX long-term.</p>



<h2>Norfolk Southern Corporation (NSC)</h2>



<div><img width="300" height="169" src="https://investorplace.com/wp-content/uploads/2019/07/nsc1600-300x169.jpg" alt=""><div>Source: Shutterstock</div></div><p><strong>Norfolk Southern Corporation</strong> (NYSE:<span><a href="https://investorplace.com/stock-quotes/nsc-stock-quote/"><strong>NSC</strong></a></span>) provides transportation of raw materials via its railroad network in the U.S. Its segments include the Norfolk Southern Railway Company and Intermodal.</p>



<p>NSC is another top transportation stock that would work well for investors pursuing a contrarian investment strategy. Its <a href="https://seekingalpha.com/article/4665341-norfolk-southern-corporation-nsc-q4-2023-earnings-call-transcript">revenues decreased</a> nearly 5% year-over-year in Q4 2023, with an adjusted operating ratio of 68.8%. The adjusted operating income decreased by 19%, and net income and EPS both fell by 19% and 17%, respectively.</p>



<p>The future also paints a challenging outlook for NSC. That includes a 1% to 4% revenue growth from 2023 levels, with management expecting around 3% and <a href="https://seekingalpha.com/article/4665380-norfolk-southern-less-than-stellar-2024-outlook">specific increases</a> expected in steel shipments and automotive sectors.</p>



<p>Due to the operating segment composition of NSC, demand for its services can gyrate along with the swings of the economy. That, to me, represents a market and not a company-specific issue expected to persist in the future.</p>



<p>Indeed, NSC&rsquo;s EPS is <a href="https://stockanalysis.com/stocks/nsc/forecast/">expected to surge</a> 61.94% in FY2024, along with strengthening its top line. That suggests it could be on the comeback trail.</p>



<h2>Delta Air Lines (DAL)</h2>



<div><img width="300" height="169" src="https://investorplace.com/wp-content/uploads/2020/12/delta-airlines-dal-1600-300x169.jpg" alt="Inside the airplane cabin of a Delta flight."><div>Source: EQRoy / Shutterstock.com</div></div><p><strong>Delta Air Lines</strong> (NYSE:<span><a href="https://investorplace.com/stock-quotes/dal-stock-quote/"><strong>DAL</strong></a></span>) <a href="https://ir.delta.com/news/news-details/2024/Delta-Air-Lines-Announces-December-Quarter-and-Full-Year-2023-Financial-Results/default.aspx">anticipates earnings per share</a> in 2024 to range between $6 and $7, with free cash flow projected at $3 to $4 billion. That builds upon the previous year&rsquo;s revenue achievement of $54.7 billion, a 20% increase over 2022. DAL aims to maintain this momentum with a revenue increase of 3% to 6% in the first quarter of 2024.</p>



<p>DAL is also making an effort to improve its fleet and operations, which could save the company money in the future. The company <a href="https://ir.delta.com/news/news-details/2024/Delta-Air-Lines-Announces-December-Quarter-and-Full-Year-2023-Financial-Results/default.aspx">announced a purchase agreement</a> with <strong>Airbus</strong> (OTCMKTS:<span><a href="https://investorplace.com/stock-quotes/eadsy-stock-quote/"><strong>EADSY</strong></a></span>) for 20 A350-1000s starting in 2026.</p>



<p>It&rsquo;s not common for Wall Street to come together to predict a huge upside for an airline stock like DAL. But this time, 12 of them did, giving it a <a href="https://stockanalysis.com/stocks/dal/forecast/">Strong Buy</a> consensus rating and a 32.94% predicted upside for its stock price.</p>



<p>I think the best has yet to come for DAL, so it&rsquo;s one of those top transportation stocks for investors.</p>



<h2>United Parcel Service (UPS)</h2>



<div><img width="300" height="169" src="https://investorplace.com/wp-content/uploads/2022/04/ups-1600-300x169.png" alt="Close up of UPS logo printed on a delivery truck."><div>Source: Sundry Photography / Shutterstock</div></div><p><strong>United Parcel Service</strong> (NYSE:<span><a href="https://investorplace.com/stock-quotes/ups-stock-quote/"><strong>UPS</strong></a></span>) has issued guidance that indicates expected revenue to range from approximately $92 billion to $94.5 billion. That forecast falls<a href="https://seekingalpha.com/article/4663339-ups-delivering-a-turnaround-story-in-2024"> below the consensus</a> target.</p>



<p>Despite this bearish backdrop, I still think UPS is one of those top transportation stocks for investors to consider closely.</p>



<p>The main thing that UPS has going for it is its <a href="https://stockanalysis.com/stocks/ups/dividend/">strong dividend yield</a> of around 4.4% at the time of writing. That is supported by its robust dividend growth rate of around 5%, and it has consistently paid out and raised dividends.</p>



<p>Furthermore, the stock could be seen as undervalued on some key metrics. For instance, its PE ratio of 19 times earnings and PS ratio of just 1.4 times sales are significantly below the median of its peers.</p>



<p>I think a combination of how cheap the stock is and its dividend makes it one of those top transportation stocks.<br><br><em>On the date of publication, Matthew Farley did not hold (either directly or indirectly) any positions in the securities mentioned in this article. The opinions expressed are those of the writer, subject to the InvestorPlace.com <a href="https://investorplace.com/corporate/investorplace-publishing-guidelines/">Publishing Guidelines.</a></em></p>
<div><p>Matthew started writing coverage of the financial markets during the crypto boom of 2017 and was also a team member of several fintech startups. He then started writing about Australian and U.S. equities for various publications. His work has appeared in MarketBeat, FXStreet, Cryptoslate, Seeking Alpha, and the New Scientist magazine, among others.</p></div><h3>More From InvestorPlace</h3>
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<p>The post <a href="https://investorplace.com/2024/03/the-top-7-transportation-stocks-to-buy-in-march-2024/">The Top 7 Transportation Stocks to Buy in March 2024 </a> appeared first on <a href="https://investorplace.com">InvestorPlace</a>.</p>

The Top 7 Transportation Stocks to Buy in March 2024

XPO Inc (XPO) is the highest overall rated company in the Trucking industry with an overall score of 64. XPO is up 254.99% so far this year after the company closed yesterday at $125.31.  The overall score measures the company's performance based-off both short and long term indicators and means that XPO scores better than

Should XPO Inc (XPO) Stock Be in Your Portfolio?

In a report released today, Jason Seidl from TD Cowen reiterated a Buy rating on XPO (XPO – Research Report), with a price target of $136.00. Jason...

Buy Rating Affirmed for XPO Logistics Amid Positive Performance and Strategic Growth Initiatives

Barclays analyst Brandon Oglenski maintained a Buy rating on XPO (XPO – Research Report) today and set a price target of $145.00. The company's sha...

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The shipping and trucking industry forms the lifeblood of the American economy. In 2022, the last year with full data available, the trucking indus...

JPMorgan Suggest 3 LTL Stocks to Buy Amidst Industry Market Share Shift

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ClearBridge Small Cap Growth Strategy Q2 2024 Portfolio Manager Commentary

ClearBridge Large Cap Value Strategy Q1 2024 Portfolio Manager Commentary

Trucking stocks hit the brakes as earnings worries mount

Old Dominion results weigh on trucking sector as industry challenges persist

AIRT

ALTM

ARLTF

CACG

CASY

CFCV

CHRW

CHTR

CNMD

DUOL

EADSY

FOXF

FWRD

HTLD

HUBG

IART

INFR

INSM

INTA

INTC

IRDM

JBHT

LRCX

LRGE

MCHP

MEDP

MSTR

NFLX

NSRGF

NSRGY

NVDA

OMCL

PLTR

RDNT

SHLS

SMCI

SPTN

SREA

TREX

VKTX

WERN

WING

XMTR

YLDE

Earnings

Press Releases

XPO Reports Fourth Quarter 2023 Results

Investor Group Announces Slate of Highly Qualified, Independent Director Candidates and Proposed Management Team for Norfolk Southern Corporation

XPO Provides North American LTL Operating Data for February 2024

Two XPO Leaders Named Top Women to Watch in Transportation

Four XPO Leaders Named 2024 "Pros to Know" by Supply & Demand Chain Executive Magazine

XPO Named National Less-Than-Truckload Carrier of the Year by MODE Global for Second Year in a Row

XPO Schedules First Quarter 2024 Earnings Conference Call for Friday, May 3, 2024

XPO Celebrates 30th Anniversary of Its US Trailer Manufacturing Facility

XPO Opens Three New Service Centers in Growing Freight Markets to Enhance Service for Customers

XPO Recognized as a 2024 VETS Indexes 4 Star Employer for the Second Year in a Row

ATKR

BKSR

ENVX

OTIS

SEDG

USFD

WYNN

ZBRA

ArcBest

Covenant Logistics Group, Inc. - Class A Common Stock

Covenant Logistics Gr

Heartland Express

J.B. Hunt Transport Services, Inc. - Common Stock

JB Hunt Transport Servs

Knight-Swift Transportation Holdings Inc.

Knight-Swift

Landstar System

Marten Transport

Old Dominion Freight Line, Inc. - Common Stock

Old Dominion Freight Line

P.A.M. Transportation Services, Inc. - Common Stock

P.A.M. Transportation

Ryder System

Saia

Schneider National

U-Haul Holding

U-Haul Holding Company Series N Non-Voting Common Stock

Universal Logistics Holdings, Inc. - Common Stock

Universal Logistics Hldgs

Werner Enterprises

MingZhu Logistics Holdings Limited - Ordinary Shares

MingZhu Logistics Hldgs

Full Truck Alliance Co. Ltd. American Depositary Shares (each representing 20 Class A Ordinary Shares)