J.B. Hunt Transport Services (NASDAQ:JBHT) Stock Price Target Cut by TD Cowen

Key Points

• TD Cowen lowered its J.B. Hunt price target to $283 from $297 while maintaining a “hold” rating, implying 23.13% potential upside from the prior close.
• Analyst sentiment remains broadly positive, with a consensus “Moderate Buy” rating and average price target of $280.83, despite estimates ranging from $200 to $370.
• J.B. Hunt exceeded quarterly expectations, reporting $1.91 in EPS versus $1.71 expected and $3.50 billion in revenue, up 19.4% year over year; institutional investors own nearly 75% of the company.

J.B. Hunt Transport Services (NASDAQ:JBHT - Get Free Report) had its target price decreased by equities research analysts at TD Cowen from $297.00 to $283.00 in a research report issued to clients and investors on Monday, Benzinga reports. The brokerage presently has a "hold" rating on the transportation company's stock. TD Cowen's target price points to a potential upside of 23.13% from the stock's previous close.

A number of other brokerages have also recently commented on JBHT. Sanford C. Bernstein reaffirmed an "outperform" rating on shares of J.B. Hunt Transport Services in a report on Thursday, July 16th. Morgan Stanley reiterated an "underweight" rating and set a $200.00 price target (up from $190.00) on shares of J.B. Hunt Transport Services in a research note on Monday, July 6th. Truist Financial boosted their price objective on shares of J.B. Hunt Transport Services from $280.00 to $295.00 and gave the company a "hold" rating in a research report on Thursday, July 16th. Stifel Nicolaus upped their price objective on J.B. Hunt Transport Services from $225.00 to $261.00 and gave the stock a "hold" rating in a research note on Monday, July 13th. Finally, Stephens upped their price objective on J.B. Hunt Transport Services from $360.00 to $370.00 and gave the stock an "overweight" rating in a research note on Thursday, July 16th. One analyst has rated the stock with a Strong Buy rating, fifteen have assigned a Buy rating, nine have assigned a Hold rating and one has assigned a Sell rating to the company. Based on data from MarketBeat, the company currently has a consensus rating of "Moderate Buy" and an average target price of $280.83.

J.B. Hunt Transport Services Stock Performance

Shares of J.B. Hunt Transport Services stock traded down $4.37 during trading hours on Monday, reaching $229.83. 289,259 shares of the stock traded hands, compared to its average volume of 1,014,889. The company has a 50 day moving average price of $260.43 and a 200 day moving average price of $257.62. The firm has a market capitalization of $21.59 billion, a price-to-earnings ratio of 32.55, a P/E/G ratio of 1.88 and a beta of 1.31. J.B. Hunt Transport Services has a one year low of $136.46 and a one year high of $299.76. The company has a quick ratio of 1.26, a current ratio of 1.26 and a debt-to-equity ratio of 0.31.

J.B. Hunt Transport Services (NASDAQ:JBHT - Get Free Report) last issued its quarterly earnings data on Wednesday, July 15th. The transportation company reported $1.91 earnings per share for the quarter, topping the consensus estimate of $1.71 by $0.20. The firm had revenue of $3.50 billion for the quarter, compared to analysts' expectations of $3.26 billion. J.B. Hunt Transport Services had a net margin of 5.31% and a return on equity of 18.75%. The business's quarterly revenue was up 19.4% on a year-over-year basis. During the same quarter in the prior year, the business earned $1.31 EPS. On average, equities research analysts expect that J.B. Hunt Transport Services will post 7.58 earnings per share for the current fiscal year.

Institutional Inflows and Outflows

A number of large investors have recently modified their holdings of JBHT. BlackRock Inc. bought a new stake in J.B. Hunt Transport Services during the second quarter valued at about $1,833,602,000. Janus Henderson Group PLC boosted its stake in shares of J.B. Hunt Transport Services by 1.1% in the first quarter. Janus Henderson Group PLC now owns 3,982,720 shares of the transportation company's stock worth $843,937,000 after acquiring an additional 41,887 shares during the period. Jupiter Topco LLC purchased a new stake in shares of J.B. Hunt Transport Services during the second quarter worth about $891,349,000. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC grew its position in shares of J.B. Hunt Transport Services by 64.7% during the second quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC now owns 1,056,398 shares of the transportation company's stock worth $305,753,000 after purchasing an additional 414,837 shares in the last quarter. Finally, Barrow Hanley Mewhinney & Strauss LLC bought a new stake in J.B. Hunt Transport Services during the 2nd quarter valued at approximately $287,581,000. Hedge funds and other institutional investors own 74.95% of the company's stock.

J.B. Hunt Transport Services Company Profile

J.B. Hunt Transport Services, Inc is a transportation and logistics company headquartered in Lowell, Arkansas. Founded in 1961 by Johnnie Bryan Hunt and Johnelle Hunt, the company has grown from a small trucking operation into a major provider of freight transportation and supply-chain services across North America.

The company's primary business activities include intermodal transportation, which combines rail and truck services; dedicated contract services, which provides customized fleet and delivery operations for individual customers; and integrated capacity solutions, including freight brokerage and third-party logistics.

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