Trucking stocks are presenting a buying opportunity amid seasonal weakness, according to Christopher Kuhn, analyst at Benchmark. The assessment follows a recent pullback in the sector, which has softened key metrics despite sustained freight demand.
Benchmark’s view centers on asset-based truckload operators and intermodal providers, which have faced declining average tractor counts as carriers reduce over-the-road fleets. Spot rates remain approximately 40% above year-ago levels for dry van, flatbed, and reefer segments, though contract rates have softened relative to 2025 levels.
Knight-Swift (NYSE: KNX) is highlighted as a standout performer, with shares trading at $69.04 and delivering a 61% return over the past year. The company’s second-quarter 2026 results exceeded expectations, with adjusted earnings per share of $0.63, an 80% year-over-year increase, and revenue of $2.1 billion, surpassing the $2.04 billion forecast. Stifel, Benchmark, and Citizens have all raised price targets for Knight-Swift to $88, $90, and $90, respectively, while maintaining Buy or Market Outperform ratings.
Other major carriers such as Schneider (NYSE: SNDR), Saia (NASDAQ: SAIA), XPO (NYSE: XPO), and J.B. Hunt (NASDAQ: JBHT) are also cited in the analysis. The sector’s dynamics reflect capacity exiting the market faster than freight demand is slowing, a trend Kuhn suggests could support valuations in the near term. Freight brokers, including CH Robinson, are reducing carrier counts on their platforms following a recent Supreme Court decision and a large nuclear verdict, further tightening capacity.
