NEW YORK (TheStreet) -- Now that FedEx Corporation  (FDX) missed the analyst earnings targets by $0.02 yesterday, what freight and logistics stocks should you be buying?

The miss mostly reflecting the rise in the strength of the dollar. The good news is that the volume of packages increased by 2% in the express segment, and 5% in the ground segment, reflecting the growth in the economy. The increase in the ground segment benefited from the acquisition of the logistics company GENCO Distribution System Inc. FedEx is the largest consumer of jet fuel after the U.S. military, almost 1.5 billion gallons a year, so naturally it is sensitive to jet fuel price increases.

So, what are the best air freight and logistics companies investors should be buying? Here are the top three, according to TheStreet Ratings, TheStreet's proprietary ratings tool.

TheStreet Ratings projects a stock's total return potential over a 12-month period including both price appreciation and dividends. Based on 32 major data points, TheStreet Ratings uses a quantitative approach to rating over 4,300 stocks to predict return potential for the next year. The model is both objective, using elements such as volatility of past operating revenues, financial strength, and company cash flows, and subjective, including expected equities market returns, future interest rates, implied industry outlook and forecasted company earnings.

Buying an S&P 500 stock that TheStreet Ratings rated a buy yielded a 16.56% return in 2014 beating the S&P 500 Total Return Index by 304 basis points. Buying a Russell 2000 stock that TheStreet Ratings rated a buy yielded a 9.5% return in 2014, beating the Russell 2000 index, including dividends reinvested, by 460 basis points last year.

Check out which air freight and logistics companies made the list. And when you're done, be sure to read about which highly volatile tech stocks to buy now. Year-to-date returns are based on June 17, 2015, closing prices. The highest-rated stock appears last.

ECHO ChartECHO data by YCharts
3. Echo Global Logistics, Inc. (ECHO)

Rating: Buy, B+
Market Cap: $947.4 million
Year-to-date return: 12.4%

Echo Global Logistics, Inc. provides technology-enabled transportation and supply chain management solutions in the United States.

"We rate ECHO GLOBAL LOGISTICS INC (ECHO) a BUY. This is driven by a number of strengths, which we believe should have a greater impact than any weaknesses, and should give investors a better performance opportunity than most stocks we cover. The company's strengths can be seen in multiple areas, such as its revenue growth, largely solid financial position with reasonable debt levels by most measures, impressive record of earnings per share growth, compelling growth in net income and solid stock price performance. We feel its strengths outweigh the fact that the company shows weak operating cash flow."

Highlights from the analysis by TheStreet Ratings Team goes as follows:

  • The revenue growth came in higher than the industry average of 0.5%. Since the same quarter one year prior, revenues rose by 14.5%. This growth in revenue appears to have trickled down to the company's bottom line, improving the earnings per share.
  • ECHO has no debt to speak of therefore resulting in a debt-to-equity ratio of zero, which we consider to be a relatively favorable sign. Along with the favorable debt-to-equity ratio, the company maintains an adequate quick ratio of 1.47, which illustrates the ability to avoid short-term cash problems.
  • ECHO GLOBAL LOGISTICS INC has improved earnings per share by 40.0% in the most recent quarter compared to the same quarter a year ago. The company has demonstrated a pattern of positive earnings per share growth over the past two years. We feel that this trend should continue. During the past fiscal year, ECHO GLOBAL LOGISTICS INC increased its bottom line by earning $0.71 versus $0.62 in the prior year. This year, the market expects an improvement in earnings ($1.00 versus $0.71).
  • The company, on the basis of net income growth from the same quarter one year ago, has significantly outperformed against the S&P 500 and exceeded that of the Air Freight & Logistics industry average. The net income increased by 37.0% when compared to the same quarter one year prior, rising from $2.43 million to $3.33 million.
  • Powered by its strong earnings growth of 40.00% and other important driving factors, this stock has surged by 72.84% over the past year, outperforming the rise in the S&P 500 Index during the same period. We feel that the stock's sharp appreciation over the last year has driven it to a price level which is now somewhat expensive compared to the rest of its industry. The other strengths this company shows, however, justify the higher price levels.
EXPD ChartEXPD data by YCharts
2. Expeditors International of Washington, Inc. (EXPD)

Rating: Buy, A-
Market Cap: $9.1 billion
Year-to-date return: 7.2%

Expeditors International of Washington, Inc. provides logistics services.

"We rate EXPEDITORS INTL WASH INC (EXPD) a BUY. This is based on the convergence of positive investment measures, which should help this stock outperform the majority of stocks that we rate. The company's strengths can be seen in multiple areas, such as its revenue growth, largely solid financial position with reasonable debt levels by most measures, increase in stock price during the past year, impressive record of earnings per share growth and increase in net income. We feel its strengths outweigh the fact that the company shows weak operating cash flow."

Highlights from the analysis by TheStreet Ratings Team goes as follows:

  • The revenue growth came in higher than the industry average of 0.5%. Since the same quarter one year prior, revenues rose by 12.5%. Growth in the company's revenue appears to have helped boost the earnings per share.
  • EXPD has no debt to speak of therefore resulting in a debt-to-equity ratio of zero, which we consider to be a relatively favorable sign. To add to this, EXPD has a quick ratio of 2.34, which demonstrates the ability of the company to cover short-term liquidity needs.
  • Compared to where it was a year ago today, the stock is now trading at a higher level, reflecting both the market's overall trend during that period and the fact that the company's earnings growth has been robust. Turning our attention to the future direction of the stock, it goes without saying that even the best stocks can fall in an overall down market. However, in any other environment, this stock still has good upside potential despite the fact that it has already risen in the past year.
  • EXPEDITORS INTL WASH INC has improved earnings per share by 30.9% in the most recent quarter compared to the same quarter a year ago. The company has demonstrated a pattern of positive earnings per share growth over the past two years. We feel that this trend should continue. During the past fiscal year, EXPEDITORS INTL WASH INC increased its bottom line by earning $1.92 versus $1.70 in the prior year. This year, the market expects an improvement in earnings ($2.23 versus $1.92).
  • The company, on the basis of net income growth from the same quarter one year ago, has significantly outperformed against the S&P 500 and exceeded that of the Air Freight & Logistics industry average. The net income increased by 27.3% when compared to the same quarter one year prior, rising from $83.82 million to $106.70 million.
FDX ChartFDX data by YCharts
1. FedEx Corporation (FDX)

Rating: Buy, A
Market Cap: $50.2 billion
Year-to-date return: 1.7%

FedEx Corporation provides transportation, e-commerce, and business services in the United States and internationally.

"We rate FEDEX CORP (FDX) a BUY. This is based on the convergence of positive investment measures, which should help this stock outperform the majority of stocks that we rate. The company's strengths can be seen in multiple areas, such as its revenue growth, largely solid financial position with reasonable debt levels by most measures, solid stock price performance, impressive record of earnings per share growth and compelling growth in net income. We feel its strengths outweigh the fact that the company shows low profit margins."

Highlights from the analysis by TheStreet Ratings Team goes as follows:

  • FDX's revenue growth has slightly outpaced the industry average of 0.5%. Since the same quarter one year prior, revenues slightly increased by 3.7%. Growth in the company's revenue appears to have helped boost the earnings per share.
  • The current debt-to-equity ratio, 0.45, is low and is below the industry average, implying that there has been successful management of debt levels. To add to this, FDX has a quick ratio of 1.73, which demonstrates the ability of the company to cover short-term liquidity needs.
  • Powered by its strong earnings growth of 63.41% and other important driving factors, this stock has surged by 29.58% over the past year, outperforming the rise in the S&P 500 Index during the same period. Turning to the future, naturally, any stock can fall in a major bear market. However, in almost any other environment, the stock should continue to move higher despite the fact that it has already enjoyed nice gains in the past year.
  • FEDEX CORP reported significant earnings per share improvement in the most recent quarter compared to the same quarter a year ago. The company has demonstrated a pattern of positive earnings per share growth over the past two years. We feel that this trend should continue. During the past fiscal year, FEDEX CORP increased its bottom line by earning $6.79 versus $4.92 in the prior year. This year, the market expects an improvement in earnings ($8.94 versus $6.79).
  • The net income growth from the same quarter one year ago has significantly exceeded that of the S&P 500 and the Air Freight & Logistics industry. The net income increased by 53.4% when compared to the same quarter one year prior, rising from $378.00 million to $580.00 million.

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