October was a tough month for some of the biggest shares in the ASX transport sector. Fortunately, that allowed some of the market’s smaller transport companies to shine.
The ASX transport shares that outperformed their peers over the month of October probably aren’t those you’re thinking of.
5 top performing ASX transport shares in October
A quick note before we start; this list only contains shares with market capitalisations of more than $100 million.
Regional Express Holdings Ltd (ASX: REX)
The REX share price outperformed its transport peers during the month of October, potentially on the back of optimism surrounding Australia’s domestic borders.
Over the month just been, the company’s business looked towards a brighter future without lockdowns and travel restrictions.
In fact, on 18 October, REX announced it plans to resume offering domestic flights from the middle of November.
The REX share price gained 5.33% over the course of October, finishing the month trading at $1.58.
Lindsay Australia Limited (ASX: LAU)
October was also a great month for the Lindsay Australia share price.
The integrated transport, logistics, and rural supply company’s stock gained 5.26% over the course of last month. It finished October trading at 39.5 cents.
The only price-sensitive news released by Lindsay last month was its annual investor presentation which, once again, detailed a strong financial year 2021.
K&S Corporation Ltd (ASX: KSC)
Another transportation and logistics company to make this list is K&S Corporation.
The K&S Corporation share price bested many other ASX transport companies in October. It gained 4.12% to end the month at $1.77.
The company’s gains came despite it maintaining its silence throughout the period.
Silk Logistics Holdings Ltd (ASX: SLH)
While October was a struggle for many ASX transport shares, one of the exchange’s new faces managed to end the month in the green.
The Silk Logistics share price gained 2.22% over the course of last month, finishing it at $2.30.
The ‘port-to-door’ technology-focused logistics company debuted on the ASX in July. Under its prospectus, shares in the company were offered at $2 apiece.
That meant investors who got in on the company before its initial public offering (IPO) could boast a 15% gain on their investment at the end of October.
Dalrymple Bay Infrastructure Ltd (ASX: DBI)
Finally, the fifth best performing ASX transport share for the month of October was none other than Dalrymple Bay Infrastructure.
Over the course of last month, the Dalrymple Bay Infrastructure share price gained 1.33% to end the month trading at $2.28
While there was no news from the coal transportation company in October, it did continue its ongoing on-market buy back.
The post Which ASX transport shares were the best performers during October? appeared first on The Motley Fool Australia.
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Motley Fool contributor Brooke Cooper has no position in any of the stocks mentioned. The Motley Fool Australia’s parent company Motley Fool Holdings Inc. has no position in any of the stocks mentioned. The Motley Fool Australia has no position in any of the stocks mentioned. The Motley Fool has a disclosure policy. This article contains general investment advice only (under AFSL 400691). Authorised by Bruce Jackson.
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